Q: What are the eligibility criteria for Legal Home Loans
A: To qualify for a legal home loan in Australia, you’ll need to meet the following eligibility criteria:
- Be at least 18 years old
- Be an Australian citizen or permanent resident.
- Have a stable income and employment history.
- Have a good credit score.
- Provide proof of savings and other financial commitments.
- Meet the lender’s loan-to-value ratio (LVR) requirements.
Q: What are the documents needed for Legal Home Loans?
A: When applying for a legal home loan in Australia, you’ll need to provide the following documentation:
- Proof of identity, such as a passport or driver’s license.
- Proof of income, such as pay slips or tax returns.
- Proof of employment, such as a letter from your employer.
- Proof of savings and other financial commitments, such as bank statements and credit card statements.
- Property details, such as the address and purchase price.
- Insurance details, such as home and contents insurance.
- Loan details, such as the loan amount and term.