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Employment
a borrower's employment details are a major factor that a lender considers in their capacity to repay considerations.
It is essential to show that you can service your home loan repayments and to keep in mind that centrelink payments do not count as income, as well as supplying a deposit of 20%.
Learn MoreWhen you apply for a home loan, lenders look at two of the most important factors: your employment and job stability. Banks need to know how much of your spare income will be taken up by mortgage payments.
What they're seeking for is work stability, which ensures that you'll always have money coming in. Even if you have a higher-than-average monthly salary, your chances of getting approved are minimal if you can't show your job security to your lender.
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