Our practical guide to preparing for your home loan with confidence.
Ask people what the most stressful part about buying a home is. Chances are they won’t say the inspections, the auction nerves or even the move.
They’ll say the loan.
The loan is where things get real. It’s where your finances are put under the microscope, where paperwork matters, and a missing document can hold everything up.
The good news? It doesn’t have to be. Whether you’re a first-time buyer, refinancing, or don’t quite tick the traditional borrower boxes, our home loan checklist can help keep your loan application as simple as possible.
1. Have a clear picture of your finances
This is where many borrowers fall behind, because no one enjoys paperwork. But it’s not as complicated as it seems and doing it early can speed things up dramatically.
Most lenders will ask for:
- Income: How much do you earn each month after tax?
- Expenses: Rent, utilities, groceries, transport, subscriptions. What do you spend regularly?
- Debts: What do you still owe on any credit cards, existing personal loans or car loans?
- Savings: How much do you have available for a deposit and is there a buffer for fees or other emergencies?
The more honest and accurate you can be, the better your loan strategy will be and the easier it will be for your broker to be able to negotiate the best terms possible.
2. Get your paperwork together
Now for the part most people try to put off: the paperwork.
We know it’s boring, but it doesn’t have to be a pain. In fact, getting your loan documents together early can save you a serious headache down the track.
You’ll generally need:
- Identification – a driver’s licence or passport
- Proof of income – payslips or bank statements
- Details of any existing loans or debts
- Evidence of your savings or deposit
- Records of your assets — cars, shares, other property, etc.
Just think of this as like packing for a trip: you want everything in one place so you’re not scrambling at the check-in desk.
If your income is irregular or doesn’t come from a single employer, that’s okay too! Just be ready to provide alternative documentation (like BAS, bank statements, or an accountant’s letter).
3. Now’s the time to chat to a broker
Here’s a little tip: you don’t need to figure this out alone.
Mortgage brokers exist to help people just like you. They translate lender criteria into plain English, compare your options across the market, and help you apply in a way that gives you the best shot at approval.
The earlier you speak to one, the better.
The best part? In most cases, you won’t pay a fee. Brokers in Australia are generally paid by the lender after settlement, so their advice and support is free for you.
Even if your income is irregular, or your credit history isn’t spotless, a broker can help frame your situation in a way lenders understand.
4. Stay One Step Ahead
What happens after your loan is approved? Life.
You might change jobs. You might start or grow your family. You might need to move or take time off unexpectedly.
The right loan and non-bank lender, like Bluestone, gives you room to move and can help set your loan up to fit your unique needs.
5. This Is Your Moment
Most borrowers aren’t perfect on paper. Some are new to the workforce. Some have changed careers, separated finances, or bounced back from a rough patch. Others have the deposit but not the tidy stack of documents a bank might expect.
If you’ve taken time to understand your finances, gathered your paperwork, or spoken to a broker, you’re in a better position than you think.
At Bluestone, we specialise in seeing the full picture. Whether your income is steady or you’re looking for a self-employed loan, you deserve support. And when you break the process into clear, manageable steps, it becomes just that — manageable.
If you’re ready to take the next step, we’re ready to help. Speak to a broker to explore your options with us today.
Terms and conditions and lending criteria apply. All applications are subject to assessment.
The information provided in this article is general in nature and is not intended to be financial advice. We always recommend you seek your own, independent financial advice which can take into consideration your specific circumstances.
