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What are legal home loan requirements?




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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.

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