Low Doc/Alt Doc shouldn't lock you out of a home loan

To apply for a home loan, you’ll need to provide documents to verify your identity, employment, and financial position. 

To prove your identity:

• Australian passport

or

• International passport showing a valid Australian permanent residency visa

To prove your deposit:

• 3 months banks statements showing a savings balance 

• Recent share trading statement, showing current value

To prove your income:

For PAYG applicants you’ll need two recent payslips plus one of the following: 

• Most recent group certificate  
• Most recent notice of assessment  
• Current letter of employment 
• Bank statements - showing last 3 months’ salary 

For Self-Employed applicants, the required documents vary depending on how long you’ve been self-employed.

At least 6 months:

You’ll need to be able to show at least 6 months of GST and ABN registration and provide declaration of financial position, as well as one of the following: 6 months business bank statements, 6 months BAS-Pepper Money accountant’s letter (not accepted if ABN registered for < 12 months, on loan sizes > $1.5m or on Plus).

Over a year:

Last 2 years tax returns and notices of assessments, or

Last 2 years financial statements executed by a registered tax agent or accountant

Different lenders charge different upfront and ongoing monthly fees, which should be factored in when saving your deposit. Some of these can be added to your loan balance, while others will need to be paid upfront – fees include establishments or application fees, and risk or mortgage insurance fees. Other smaller fees will be added to your balance each month.

You can view a summary of our home loan fees.

You’ll also need to pay solicitor fees along with local and state government taxes and levies. These can’t be added to your house loan balance and are usually paid upon settlement.

The interest rates for home loans tend to vary for each individual, depending on a range of factors: 

• The amount you need to borrow against the property value; known as the Loan-to-Value Ratio (LVR) 
• The size of your deposit  
• Your income 
• Credit history 
• Any assets you own 
• Any liabilities or credit obligations
• Chosen repayment type – paying off interest-only, or principal and interest 
• The purpose of the loan – if it’s for an owner-occupier or investment property

You can find out what interest rate you might be eligible for in under five minutes using our home loan interest rate calculator. It’s quick, easy and won’t impact your credit score.

Your Pepper Money Home Loan Journey can take up to six weeks – this is the typical timeframe for a home purchase, however the process may be quicker if all the necessary documentation is provided sooner. 

Delays in decisions are often caused by incorrect or missing documentation. 

Learn more about Pepper Money Home Loan application process or for more information speak to a Lending Specialist on 137 377.

This is a calculation based on your total income, expenses, current credit exposure and your credit history. You can estimate your borrowing capacity in under 5 minutes using our home loan calculator - it’s quick, easy and won’t impact your credit score.

We’re one of Australia's leading non-bank lenders! 

We were established in 2000 to help Australians achieve their financial dreams through providing flexible financial solutions that factor in the ups and downs of real life. Since then, we’ve become one of the largest, most trusted, and award-winning non-bank lenders in Australia and New Zealand.