What you'll need when applying for a home loan

For a straightforward home loan (e.g. you’re a solo borrower or not self-employed), we’ll need to see proof of identity, income and how much you owe should you apply in person with a Home Lending Specialist, or have them on hand if you choose to apply online. 

Identification

How much ID you need to bring along will depend on whether you’re a new or existing CommBank customer.

• New customers: Have a photo ID like your Australian driver’s licence, passport, proof of age card, or any two of the following:
• Birth certificate
• Citizenship certificate
• Pension card issued by Centrelink
• Overseas driver’s licence
• Household bill, e.g. rates, phone or electricity bill.
• Existing CommBank customers: We’ll need to see one of the following:
• Your CommBank debit or credit card, or passbook
• Photo ID, such as your Australian driver’s licence, passport or proof of age card
• Your telephone banking password.

Income

• Unless your salary is paid into a CommBank account, you’ll need copies of your bank statements for the last three months (or the last six months if you are casually employed), your most recent payslip, or an employment contract or letter from your employer detailing your current base wage and PAYG payment summary or tax return
• If you’re self-employed and pay yourself a regular salary, you may be eligible for a simplified verification process. Get in touch with our Home Lending Specialists to discuss your needs. Otherwise, you’ll need your: 
• Personal tax return from the most recent year (sole traders will need to provide two most recent years) and your most recent ATO Notice of Assessment or a letter from your accountant confirming that tax returns are final and have been lodged with the ATO
• Most recent business tax returns
  
• Most recent business financial statements, showing the last two consecutive years' profit and loss information.
• If you’re earning rental income from another property, we’ll need to see one of the following:
• A statement from the managing/real estate agent
• The current lease agreement
• The most recent tax returns showing your ownership of the rental property
• If you receive any government income, we’ll need to see a letter from Centrelink confirming your benefits amount
• If you have other income (e.g. investment income from shares) that isn’t listed above, we'll also require documents for these

Expenses

Calculate your current living expenses and consider any changes you may choose to make in the future, should your home loan be approved. Living expenses are the funds you need to maintain a reasonable standard of living, including expenses such as food, transport, clothes, utilities, education and healthcare. We’ll ask you for a breakdown of your monthly living expenses.

If you're earning rental income we'll also ask you for an estimate of your rental expenses for each investment property.

Other information

• If you're using an existing property you own as security, we’ll need to see either a rates notice that shows the street address and title reference, or a Notice of Valuation
• If you’ve already found a property, we’ll need to see a Contract of Sale as well as your solicitor or conveyancer’s name, address and contact details
• If you have existing insurance, we’ll need a copy of any insurance documents (e.g. policy schedules)
• If you’re building a home, provide us with the formal building tender and formal plans and specifications
• If you have savings, investments, credit cards or loans not held with CommBank, we may also require documents for these