First Home Buyer Checklist: What to Prepare Before Applying
Buying a first home can feel easier to navigate when you know what information may be requested early. This guide outlines common preparation steps before speaking with a broker or lender.
Clarify your deposit and savings position
Start with a clear view of your savings, regular contributions and any funds that may be available for purchase costs. Lenders usually look closely at where deposit funds came from and whether savings habits are consistent.
Prepare income and employment records
Recent payslips, employment details and income history may be requested. If your income includes overtime, bonuses, commissions or allowances, keep supporting records available for assessment.
List existing debts and commitments
Credit cards, personal loans, buy now pay later facilities and living expenses can affect borrowing assessment. A complete list helps avoid delays later in the process.
Understand the next steps before you apply
A broker can help you understand the information required, possible loan structures and what may happen from pre-approval through to settlement, subject to lender criteria.