Documents You Need For Mortgage Pre-Approval
First Home Buyers Guide to a Stress-Free Mortgage Pre-Approval
Getting mortgage pre-approval can be a stressful process for first home buyers as they await the Bank to come back with their offer.
You can significantly reduce the processing time by providing all required documentation upfront.
So Rupert from The Mortgage Lab has produced a list of documents that you will probably need to produce to get mortgage pre-approval.
Documents Required For Pre-Approval:
- a copy of your current Passport (or Drivers License and Birth Certificate)
- if you are employed:
- your 3 most recent payslips
- 2 years confirmation of any bonuses you receive
- if you are self-employed:
- if applying before September 2017 = Accountant prepared Financials for March 2016 year
- if applying after 1st September 2017 = Accountant prepared Financials for March 2017 year
- 3 months of your spending (eftpos) account statements
- Note: these must include the bank accounts that receive your wages
- 3 months of your Savings account statements
- a printout or screenshot showing the balance of any KiwiSaver Accounts (only required if you plan to use KiwiSaver for your deposit)
- if you are receiving a Gift from your family
- a copy of the Gifting Declaration
- Note: Mortgage Lab can provide a template for this if you require.
These documents aren’t necessary at the approval stage but showing them can make the bank more relaxed about your application
- if you are purchasing the property in a Trust
- a copy of the Trust Deed
- if you have a Student Loan
- a copy of your Student Loan balance from the IRD website
- any information you have on the property you are interested in. Usually this arrives as a Tender Pack or an Auction Pack from the Real Estate Agents.
- if you are purchasing an investment property
- a copy of a rental assessment from a Rental Firm or a Real Estate Agent
It may look like a lot of documentation but it actually amounts to: ID, income, bank statements and proof of deposit.
Any bank that receives this information at the time of the application will happily assess your file as quickly as possible.