# Documents you need for pre-approval: a complete checklist

> **Reading time:** 6 min  •  **For:** First home buyers about to start pre-approval

Pre-approval is the moment your house hunt gets real. It's also the moment you stop guessing your budget and start house-hunting with a number a lender has actually looked at. The catch: lenders want a fair pile of paperwork before they'll put that number in writing. Here's exactly what to pull together so your broker can lodge in a day, not a fortnight.

## Quick links
- [Moneysmart: Applying for a home loan](https://moneysmart.gov.au/home-loans)
- [NAB: Home loan pre-approval](https://www.nab.com.au/personal/life-moments/home-property/buy-first-home/pre-approval)
- [ANZ: Home loan application checklist](https://www.anz.com.au/personal/home-loans/get-started/checklist/)
- [CommBank: Conditional pre-approval](https://www.commbank.com.au/home-loans/understanding-the-home-loan-process.html)
- [MFAA: Find a broker](https://findabroker.mfaa.com.au/)

## What pre-approval actually is

Pre-approval (sometimes called "conditional approval" or "approval in principle") is the lender's signal that, based on the financial picture you've given them, they'd lend you up to a certain amount. It is **not** a guaranteed loan. Moneysmart describes it as showing "you're eligible to apply for a loan up to a certain amount". It doesn't commit you, and it doesn't commit the lender either.

Three terms to keep straight:

- **Pre-approval / conditional approval.** Your finances have been checked. The loan is subject to conditions (usually a satisfactory property valuation and a final credit check).
- **Unconditional / formal approval.** Comes after you've made an offer. The lender has valued the specific property, re-verified your situation, and is ready to fund the purchase.
- **Settlement.** The loan is drawn and the property is yours.

Pre-approval typically lasts **3 months with the major banks** (CBA, NAB, ANZ, Westpac), with some non-majors stretching to 6 months. Once it lapses, you re-submit current documents and your broker re-runs the assessment.

## The document checklist

<div class="ig">
  <div class="ig-head">
    <span class="ig-pill">Checklist</span>
    <p class="ig-title">The pre-approval document checklist</p>
  </div>
  <div class="ig-grid-4">
    <div class="ig-card">
      <p class="ig-card-h" style="color: #4608B3;">🪪 Identity (100 pts)</p>
      <ul>
        <li class="ig-box">Driver's licence or passport</li>
        <li class="ig-box">Medicare or birth certificate</li>
        <li class="ig-box">Recent utility / rates bill</li>
      </ul>
    </div>
    <div class="ig-card">
      <p class="ig-card-h" style="color: #4608B3;">💼 Income (PAYG)</p>
      <ul>
        <li class="ig-box">2 most recent payslips</li>
        <li class="ig-box">ATO income statement / PAYG summary</li>
        <li class="ig-box">Employment letter (if new/casual)</li>
      </ul>
    </div>
    <div class="ig-card">
      <p class="ig-card-h" style="color: #4608B3;">💰 Savings & deposit</p>
      <ul>
        <li class="ig-box">3 months bank statements (all accounts)</li>
        <li class="ig-box">Evidence of deposit source</li>
        <li class="ig-box">Gift letter (if applicable)</li>
      </ul>
    </div>
    <div class="ig-card">
      <p class="ig-card-h" style="color: #4608B3;">💳 Debts & expenses</p>
      <ul>
        <li class="ig-box">Credit card statements (every card)</li>
        <li class="ig-box">Personal/car loan statements</li>
        <li class="ig-box">HECS balance + BNPL accounts</li>
        <li class="ig-box">3 months transaction statements</li>
        <li class="ig-box">Rental ledger (if renting)</li>
      </ul>
    </div>
  </div>
  <div class="ig-card ig-tone-warn" style="margin-top: 12px;">
    <p class="ig-card-h" style="color: #9a3412;">🧑‍💼 Self-employed extras</p>
    <ul>
      <li class="ig-box">Personal + business tax returns (2 yrs)</li>
      <li class="ig-box">Matching ATO Notices of Assessment</li>
      <li class="ig-box">12 months BAS + current P&L / balance sheet</li>
      <li class="ig-box">ABN + GST registration details</li>
    </ul>
  </div>
  <p class="ig-foot">From a complete pack to a pre-approval letter is typically <strong>2–5 business days</strong>.</p>
</div>

### Identity (100 points of ID)
Lenders verify you using the standard 100-point check. You'll need at least two forms, one with a photo.

- **Photo ID.** Driver's licence or passport (70 points)
- **Secondary ID.** Medicare card, birth certificate, or recent utility bill in your name (25–40 points)
- **Proof of address.** Recent rates notice, utility bill, or rental ledger

*Proves:* You are who you say you are.

### Income (PAYG employees)
- **Two most recent payslips.** No older than 60 days, showing year-to-date figures (ANZ requires YTD covering at least 3 months of continuous employment)
- **ATO Income Statement or PAYG Summary.** Last financial year, downloadable from myGov
- **Employment contract or letter from employer.** Useful if you're new in the role, on probation, or casual
- **Tax return or Notice of Assessment.** Sometimes requested, especially for bonus or commission income

*Proves:* Stable income to service the loan.

### Income (self-employed)
This is the bigger pile. Most lenders want a track record:

- **Personal tax returns.** Last 2 financial years
- **Business tax returns.** Last 2 financial years
- **ATO Notices of Assessment.** Matching both years, no older than 22½ months
- **BAS (Business Activity Statements).** Last 12 months
- **Profit and loss statement and balance sheet.** Current year if returns aren't lodged yet
- **ABN and GST registration details**

A handful of lenders (including NAB) will look at a single year's financials if your loan-to-value ratio is 80% or under. Low-doc options exist if you've been trading 12+ months but don't have two full tax years.

*Proves:* Your business income is real, steady, and likely to continue.

### Savings and deposit
- **3 months of bank statements** for every account holding savings
- **Evidence of the deposit source.** Savings, sale of asset, inheritance, First Home Super Saver release
- **Gift letter** if part of your deposit is a gift from family. The letter needs to state the amount, that it's non-repayable, and be signed by the giver.

#### The "genuine savings" rule
If you're borrowing more than 80% of the property value (so paying less than 20% deposit), most lenders require **5% of the purchase price as genuine savings**. That means funds you've accumulated yourself over at least 3 months, demonstrated through bank statements. Gifts, tax refunds, and one-off windfalls usually don't count as genuine savings, though they can still form part of your deposit.

*Proves:* You can save consistently and you have the money you say you have.

### Debts and expenses
- **Credit card statements.** Most recent statement for every card, even ones you never use (lenders assess the limit, not the balance)
- **Personal loan or car loan statements.** Current balance and repayments
- **HECS/HELP balance.** Shown on your latest Notice of Assessment or ATO account
- **Buy-now-pay-later accounts.** Afterpay, Zip, Klarna, etc. Lenders see them on bank statements anyway, so disclose them.
- **3 months of everyday transaction account statements** for the expense assessment
- **Rental ledger or last 3 months of rent payments on bank statements** if you're renting

*Proves:* Your real cost of living and what's already committed before the new mortgage.

### Other
- **First Home Owner Grant or QLD First Home Buyer concession** documentation if you're claiming either
- **Insurance details** if you already hold landlord or building cover

## Self-employed vs PAYG: at a glance

<div class="ig">
  <div class="ig-head">
    <span class="ig-pill">Compare</span>
    <p class="ig-title">PAYG vs self-employed: what's different</p>
  </div>
  <div class="ig-grid-2">
    <div class="ig-card">
      <p class="ig-card-h">💼 PAYG employee</p>
      <ul>
        <li class="ig-tick">2 most recent payslips</li>
        <li class="ig-tick">ATO income statement / PAYG summary</li>
        <li class="ig-tick">Employment letter <em>(if new/casual)</em></li>
        <li class="ig-tick">Tax return / NOA <em>(if bonus or commission)</em></li>
      </ul>
    </div>
    <div class="ig-card" style="background: #fff7ed; border-color: #fed7aa;">
      <p class="ig-card-h" style="color: #9a3412;">🧑‍💼 Self-employed / sole trader</p>
      <ul>
        <li class="ig-tick"><strong>Everything PAYG needs, plus:</strong></li>
        <li class="ig-tick" style="color: #9a3412;">Personal tax returns, <strong>2 years</strong></li>
        <li class="ig-tick" style="color: #9a3412;">Business tax returns, <strong>2 years</strong></li>
        <li class="ig-tick" style="color: #9a3412;">Matching ATO Notices of Assessment</li>
        <li class="ig-tick" style="color: #9a3412;">BAS for the <strong>last 12 months</strong></li>
        <li class="ig-tick" style="color: #9a3412;">Current P&L + balance sheet</li>
        <li class="ig-tick" style="color: #9a3412;">ABN + GST registration details</li>
      </ul>
    </div>
  </div>
  <p class="ig-foot">A handful of lenders (including NAB) will look at <strong>1 year</strong> of financials if your LVR is ≤ 80%.</p>
</div>

## How long pre-approval lasts (and what kills it)

Most major banks issue pre-approval for **90 days**. Some lenders stretch to 120 days or 6 months. Lenders don't go longer because your financial situation, lending criteria, and interest rates all move.

If pre-approval lapses, you re-lodge updated documents (usually fresh payslips and bank statements) and your broker resubmits. It's faster the second time if nothing's changed.

### Things that kill pre-approval

<div class="ig">
  <div class="ig-head">
    <span class="ig-pill" style="background: #dc2626;">Warning</span>
    <p class="ig-title">6 things that can kill your pre-approval</p>
  </div>
  <div style="display: grid; gap: 8px;">
    <div style="display: grid; grid-template-columns: 32px 1fr 1fr; gap: 10px; background: #fff; border: 1px solid #fecaca; border-radius: 10px; padding: 10px 12px;">
      <span style="background: #dc2626; color: #fff; border-radius: 999px; width: 26px; height: 26px; display: inline-flex; align-items: center; justify-content: center; font-weight: 700; font-size: 12px;">1</span>
      <div><strong style="color: #0f172a;">Changing jobs or going on probation.</strong></div>
      <div style="font-size: 12px; color: #475569;"><em>Do instead:</em> sit tight until settlement.</div>
    </div>
    <div style="display: grid; grid-template-columns: 32px 1fr 1fr; gap: 10px; background: #fff; border: 1px solid #fecaca; border-radius: 10px; padding: 10px 12px;">
      <span style="background: #dc2626; color: #fff; border-radius: 999px; width: 26px; height: 26px; display: inline-flex; align-items: center; justify-content: center; font-weight: 700; font-size: 12px;">2</span>
      <div><strong style="color: #0f172a;">Applying for new credit cards or BNPL.</strong></div>
      <div style="font-size: 12px; color: #475569;"><em>Do instead:</em> close unused BNPL accounts now.</div>
    </div>
    <div style="display: grid; grid-template-columns: 32px 1fr 1fr; gap: 10px; background: #fff; border: 1px solid #fecaca; border-radius: 10px; padding: 10px 12px;">
      <span style="background: #dc2626; color: #fff; border-radius: 999px; width: 26px; height: 26px; display: inline-flex; align-items: center; justify-content: center; font-weight: 700; font-size: 12px;">3</span>
      <div><strong style="color: #0f172a;">Increasing existing credit limits.</strong></div>
      <div style="font-size: 12px; color: #475569;"><em>Do instead:</em> lower limits if you can.</div>
    </div>
    <div style="display: grid; grid-template-columns: 32px 1fr 1fr; gap: 10px; background: #fff; border: 1px solid #fecaca; border-radius: 10px; padding: 10px 12px;">
      <span style="background: #dc2626; color: #fff; border-radius: 999px; width: 26px; height: 26px; display: inline-flex; align-items: center; justify-content: center; font-weight: 700; font-size: 12px;">4</span>
      <div><strong style="color: #0f172a;">Taking on a car loan or personal loan.</strong></div>
      <div style="font-size: 12px; color: #475569;"><em>Do instead:</em> wait until after settlement.</div>
    </div>
    <div style="display: grid; grid-template-columns: 32px 1fr 1fr; gap: 10px; background: #fff; border: 1px solid #fecaca; border-radius: 10px; padding: 10px 12px;">
      <span style="background: #dc2626; color: #fff; border-radius: 999px; width: 26px; height: 26px; display: inline-flex; align-items: center; justify-content: center; font-weight: 700; font-size: 12px;">5</span>
      <div><strong style="color: #0f172a;">Missing a bill or loan repayment.</strong></div>
      <div style="font-size: 12px; color: #475569;"><em>Do instead:</em> set every bill to auto-pay.</div>
    </div>
    <div style="display: grid; grid-template-columns: 32px 1fr 1fr; gap: 10px; background: #fff; border: 1px solid #fecaca; border-radius: 10px; padding: 10px 12px;">
      <span style="background: #dc2626; color: #fff; border-radius: 999px; width: 26px; height: 26px; display: inline-flex; align-items: center; justify-content: center; font-weight: 700; font-size: 12px;">6</span>
      <div><strong style="color: #0f172a;">Lender tightens criteria mid-search.</strong></div>
      <div style="font-size: 12px; color: #475569;"><em>Do instead:</em> stay close to your broker. They have alternatives.</div>
    </div>
  </div>
  <p class="ig-foot">The safest move between pre-approval and unconditional: <strong>change nothing</strong>. Lenders re-run the credit check before formal approval.</p>
</div>

Lenders re-run a credit check before unconditional approval. Aussie Home Loans and Unloan both list job changes, new credit, missed payments, and tightened lender criteria as the most common reasons pre-approved loans get knocked back at the final hurdle. The safest move between pre-approval and settlement: change nothing.

## Timeline

From a complete document pack to a pre-approval letter is usually **2–5 business days**. NAB notes it can be "a few hours" with a clean application or "a few weeks" if anything needs follow-up. Two things slow it down: missing documents and unexplained transactions on your bank statements.

## What pre-approval doesn't do

It doesn't guarantee the loan. Once you've found a place and made an offer, the lender still needs to:

1. Value the specific property
2. Re-verify your income and savings
3. Run a final credit check
4. Issue formal (unconditional) approval

That's why **the finance condition in your contract matters**. If full approval doesn't come through, the finance clause is what lets you walk away without losing your deposit.

## What's next

If you don't have a broker yet, start there. They'll do the paperwork heavy lifting and shop your application across lenders. See our guide: [How to choose a mortgage broker](/help-hub/01-mortgage-broker).

Once you've got pre-approval and you're house hunting, line up your conveyancer too. We review contracts before you sign, so [get a fixed-price quote](https://contracts.zettle.com.au/free-review?utm_source=readiness-quiz&utm_medium=referral&utm_campaign=contract-review&utm_content=article-02-pre-approval-checklist).

## Sources

- ASIC Moneysmart: [Home loans](https://moneysmart.gov.au/home-loans) and [Buying a house](https://moneysmart.gov.au/home-loans/buying-a-house)
- NAB: [Home loan pre-approval](https://www.nab.com.au/personal/life-moments/home-property/buy-first-home/pre-approval) and [Self-employed home loan](https://www.nab.com.au/personal/home-loans/self-employed-home-loan)
- ANZ: [Home loan application checklist](https://www.anz.com.au/personal/home-loans/get-started/checklist/)
- CommBank: [Conditional pre-approval and the home loan process](https://www.commbank.com.au/home-loans/understanding-the-home-loan-process.html)
- Aussie: [Reasons your home loan may be rejected after pre-approval](https://www.aussie.com.au/insights/articles/home-loan-rejection-after-pre-approval/)
- Unloan: [8 reasons your home loan may be rejected after pre-approval](https://www.unloan.com.au/learn/8-reasons-your-home-loan-may-be-rejected-after-pre-approval)
- APRA: [Activation of debt-to-income limits as a macroprudential policy tool](https://www.apra.gov.au/activation-of-debt-to-income-limits-as-a-macroprudential-policy-tool)
- MFAA: [Find a broker FAQs](https://findabroker.mfaa.com.au/frequently-asked-questions/)
- Home Loan Experts: [Genuine savings explained](https://www.homeloanexperts.com.au/genuine-savings/)