Understand the home loan application process

How do you actually apply for a home loan with us? What’s involved? What do we need from you?

While getting conditional approval from us online is a useful exercise, it doesn’t guarantee you’ll get a home loan. When you’re ready to formally apply, we’ll ask you a number of questions—and ask for supporting documents—before you get the go-ahead.

1. Identification

We need to know that you are you. So we’ll ask for one primary photographic form of ID (e.g. passport or driver licence), and one non-photographic form (e.g. birth certificate). We’ll also need one secondary document (e.g. Medicare card or recent utility bill).

2. What you earn

We’ll ask for details about your income so we can see if you’ll be able to meet your loan repayments (and a mortgage won’t put you under undue stress).

  • If you’re a wage/salary earner, we’ll need either a bank statement (which shows your last two salary payments), or two of your last three payslips, or a letter from your employer that outlines your employment details.
  • If you’re self-employed, we’ll need your accountant’s details, and your last two years of financial statements.
  • If you’re receiving superannuation, we’ll need either a super fund statement, or bank statement showing your income.
  • If you’re receiving government income, we’ll need either a current Centrelink statement, or a current bank statement that shows your government payments.
  • If you receive income from rental properties, we’ll need either a current bank statement that shows this, or a current lease arrangement, or a letter from your real estate agent/property manager.
  • Lastly, if you receive investment income, we’ll need to see either your shareholding certificate(s), or a current dividend statement notice.

3. What you own

We’ll ask you if you have savings in non-NAB accounts, and for any shares, property or significant assets (e.g. castle, island, small Russian gas field) you might have. We’ll need supporting documentation.

4. What you owe

We’ll ask for details on any non-NAB loans, credit cards, store cards, leases and other personal debts.

Many people take the chance to completely overhaul their finances before they buy a home. It’s a splendid opportunity to get your finances in order—and get things as simple and stress-free as possible. You might refinance your credit cards, or you may consider a debt consolidation loan. But if it’s not with NAB, we’ll need to know the details.

5. Residential status

If you’re renting, we’ll ask for details of the property owner (or estate agent).

6. Other things to think about

  • Do you have a First Home Owner Grant (FHOG)? We’ll need to see your completed FHOG application.
  • If you're building a property or already negotiated a contract, we’ll need cost estimates and timelines, or a copy of the builder’s contract.
  • Receiving a gift (money) to help you buy your home? We’ll need a letter from your benefactor detailing their contribution and the repayment conditions (if any).
  • Need a hand finding a home loan ? Try our ‘choosing the right home loan tool’ to narrow down your options.

Important information

The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.

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