Tick off the documents, questions and checks before you apply for a new home loan or refinance an existing one.
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Work through this checklist before you apply for a new home loan or a refinance. It is grouped in the order most people need it: first the facts about your current position, then the documents a lender will ask for, then the questions that decide whether an offer is genuinely cheaper, and finally the checks before you sign.
Why it matters. Under the National Consumer Credit Protection Act 2009, lenders and brokers must make reasonable inquiries about your requirements, objectives and finances and verify what you tell them, so a complete, accurate application is faster and less likely to be declined. The questions for the lender cover the items that most often turn a low advertised rate into a dearer loan: fees, revert rates, break costs and conditional cashbacks.
How to use it. Tick items as you go; your ticks stay in this browser only. Take the questions section to every lender or broker you speak to, and write down the answers so you can compare them line by line. A worked example of comparing two offers is in the home loan comparison checklist guide, and the switching steps are in the refinancing process guide.
Limits. Lenders differ in what they require, particularly for self-employed borrowers, guarantor loans, construction loans and borrowers with income from overseas. This list is general information, not financial advice.
Repayment Examples and Checklists
A practical checklist for comparing Australian home loan offers, the documents lenders ask for, the questions that reveal real cost, and a worked comparison of a basic and a package loan.
Refinancing Mistakes and Official Sources
How Australian mortgage brokers are paid and regulated, what the best interests duty requires, when going direct to a bank makes sense, and the questions to ask before you choose.
Refinancing Mistakes and Official Sources
The step-by-step refinancing process in Australia, from application and valuation to the discharge authority, electronic settlement and the payout figure, with a timeline and checklist.
