Let's talk about your credit needs

Let's talk about your credit needs

by admin4WP

Total Choice Home Loans can discuss all of your finance needs, including home loans, insurance and superannuation.

How much can I borrow?

Total Choice Home Loans will help work out what you can afford to borrow by calculating what you can comfortably afford in loan repayments. This will give you a strong initial indicator of your eligibility for the loan amount you are considering.

What’s the best loan for me?

Total Choice Home Loans is accredited with all major Banks and many other Lenders and can offer a choice of 100’s of loan types. We will help you make a well informed decision by providing key information on loan features, rate options & fees.

Pre-approving your loan

Pre-approval is the first stage in the loan application process. With pre-approval you:

  • Have a realistic budget when shopping for a property, confirmed by an entitlement certificate.
  • Can be treated as a serious buyer by an agent.

Applying for your loan

Once you have found your new property, to complete your application we need certain information from you, either in the form of original documents or certified copies.

When you come in to apply for your home loan, please bring:

  • Details of monthly expenses, including any loan repayments you may have, credit card limits and ATO Assessment Notice
  • A detailed list of assets (what you own) and liabilities (what you owe)
  • Your latest superannuation statement
  • Confirmation of other income (e.g. trust income, investment income)
  • Details of other expenses (e.g. child support payments)
  • Proof of savings (3 months statements or passbooks)
  • A full copy of the Contract of Sale for the property you plan to purchase including any annexures or special conditions (if available)
  • Proof of Identity validating your name, residential address, and date of birth. For example: Drivers
  • Licence and Medicare Card.
If you are an employee (PAYG)
  • 2 recent pay slips showing monthly salary (before/after tax)
  • Most recent Payment Summary or Tax Return with ATO notice
If you are self employed
  • Last 2 years’ Business/Company Tax Returns (including balance sheet and profit and loss statement)
  • Last 2 years’ Personal Tax Returns and Assessment Notices
If you are refinancing from another lender
  • Last 6 months loan statements and your Council rates notice
If you are building
  • Plans (in electronic format if available) specifications, council approval, a Builder’s
  • Contract (signed by both customer and builder) or, if the builder, an Owner Builder Independent
  • Adviser’s Report