Your Home Loan application checklist:
Helping you feel confident and prepared

Applying for a Pepper Money home loan on a computer

 Last updated: 07 October 2025 |  Estimated read time: 3 minutes

At Pepper Money, we know that applying for a home loan can feel like a big step. That’s why we’re here to make it as straightforward and supportive as possible. Whether you’re buying your first home, refinancing, or investing, this checklist will help you understand what’s needed and when.

Step 1: 
Getting to know you

Estimated timeframe:
1-3 business days

Before we dive into documents, we’ll have a chat to understand your goals, financial position, and what kind of loan might suit you best.

To establish your identity, you'll typically need to provide:

  • Either your driver’s licence and passport
    or
  • Your driver’s licence or passport, plus your Medicare card and birth certificate.

For PAYG income, there are two options:

Option 1:

  • Your most recent payslip
  • 3 consecutive months of bank statements showing proof of salary

Option 2:

  • Either your most recent payslip or 3 months of bank statements showing proof of salary
  • Plus one of the following:
    • Letter of Employment
    • Notice of Assessment (from the ATO)
    • Latest PAYG Payment Summary

Your payslip must:

  • Include your name and your employer’s name and ABN.
  • Be dated within the last four weeks.
  • Show at least 3 months of year-to-date (YTD) gross and net income.

For casual or contract workers:

  • A minimum of 6 months of bank statements showing income

The documentation required depends on whether you're applying as Full Doc or Alt Doc.

Full Doc:

  • Last one or two years’ tax returns and notice of assessments
    or
  • Last one or two years’ financial statements executed by a registered tax agent or accountant

Alt Doc:

  • Evidence of GST and ABN registration for at least 6 months
  • Declaration of financial position
  • Plus one of the following:
    • 6 months of business bank statements
    • 6 months of lodged Business Activity Statements (BAS)
    • Pepper Money accountant’s letter (eligibility criteria apply)

Please note: The documentation required will depend on your individual circumstances and the product option you're applying for. Not all options are available to every applicant – this will be confirmed during your application process.

  • Government income: Centrelink letter or bank statements
  • Rental income: Lease agreement or agent statement

  • Bank statements: Typically the last 3 months
  • Details of assets: Savings, super, property, vehicles or personal belongings
  • Details of liabilities: Credit cards, personal loans, car loans
  • Living expenses: Food, transport, utilities, insurance, entertainment

  

Document being reviewed

Step 2:
Reviewing your documents

Estimated timeframe:
2-5 business days

Once we’ve got your paperwork, we’ll assess your financial position and may issue an Approval in Principle, also known as a conditional approval.

You may also need:

  • Proof of deposit
  • Gift letter (if receiving financial help)
  • Property details (if you’ve found one)
  • First Home Owner Grant (FHOG) application (if eligible)
  • Insurance declarations
  • Existing loan statements (if refinancing)

  

Document being reviewed

Step 3:
Final approval

Estimated timeframe:
3-7 business days

After valuation and final checks, we’ll issue your Formal Approval and send your loan agreement.

What to do:

  • Review your loan agreement carefully
  • Ask questions if anything’s unclear
  • Consider whether the loan agreement meets your needs and objectives. If it does, sign and return the documents.

  

Document being reviewed

Step 4:
Settlement.
It’s time to move in!

Estimated timeframe:
2-5 weeks

We’ll confirm your settlement date and finalise everything so you can start your home loan journey.

Final steps:

  • Confirm settlement details with your conveyancer or solicitor
  • Ensure all signed documents are returned
  • Confirm the transfer of funds to complete settlement
  • Celebrate your new home!

Downloadable Checklist

Want to tick things off as you go? Keep track of your progress and stay organised with our home loan application checklist.
Download the checklist

We’re here to help.

If you’re unsure what applies to you, chat with a Pepper Money home loan expert or your broker. We’re here to help you find a way forward. Get in touch with any questions or to learn more.

Barry Saoud - Pepper Money General Manager, Mortgages and Commercial Lending

Contributor | Barry Saoud, General Manager, Mortgages and Commercial Lending

Barry joined Pepper Money in July 2021 as General Manager, Mortgages and Commercial Lending. He is responsible for the strategic direction and operating performance across product, credit, and settlements for mortgages, commercial loans, personal loans, and direct sales. Read more.

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Information provided is factual information only and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser.

All applications for credit are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply. 

The results of the borrowing power calculator are based on information you have provided and is to be used as a guide only. The output of the calculator is subject to the assumptions provided in the calculator (see 'about this calculator') and are subject to change. It does not constitute a quote, pre-qualification, approval for credit or an offer for credit and you should not enter commitments based on it. The interest rates do not reflect true interest rates and the formula used for the purpose of calculating estimated borrowing power is based on the assumption that interest rates remain constant for the chosen loan term. Your borrowing power amount will be different if a full application is submitted and we complete responsible lending assessment. The results in the calculator do not take into account loan setup or establishment fees nor government, statutory or lenders fees, which may be applicable from time to time. Calculator by Widgetworks.

Pepper Money Personal Loans is a brand of Pepper Money Limited. Credit is provided by Now Finance Group Pty Ltd, Australian Credit Licence Number 425142 as agent for NF Finco 2 Pty Limited ACN 164 213 030. Personal information for Pepper Money Personal Loans is collected, used and disclosed in accordance with Pepper’s Privacy Policy & the credit provider’s Privacy Policy.

Pepper Money Limited ABN 55 094 317 665; AFSL and Australian Credit Licence 286655 (“Pepper”). All rights reserved. Pepper is the servicer of home loans provided by Pepper Finance Corporation Limited ABN 51 094 317 647. Pepper Asset Finance Pty Limited ACN 165 183 317 Australian Credit Licence 458899 is the credit provider for asset finance loans.

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