All income types should be considered when applying for a home loan. Different lenders may not accept some types of income or may only accept a lesser percentage of certain income types.
Some types of income to declare are as follows.
- PAYG income, wages or salary permanent full-time employment 2 years +
- PAYG income, wages or salary permanent part-time employment less than 1 year
- PAYG income, wages or salary permanent part-time employment less than 2 years +
- PAYG income, wages or salary permanent part-time employment 2 years +
- PAYG income, wages or salary permanent casual employment less than 1 year
- PAYG income, wages or salary permanent casual employment less than 2 years +
- PAYG income, wages or salary permanent casual employment 2 years +
- PAYG income, wages or salary permanent second job less than 1 year
- PAYG income, wages or salary permanent second job less than 2 years +
- PAYG income, wages or salary permanent second job 2 years +
- PAYG income, wages or salary overtime 12 months history
- Self employed directors salary or dividends
- Self employed depreciation
- Self employed net business profit
- Self employed net business loss
- Family Allowance Part A
- Family Allowance Part B
- Pension
- Investment rental income current
- Investment rental income proposed
- Investment income other
- Maintence payments recieved
- Other taxable income
- Other non taxable income
- Negative gearing benefit
Next the actual details of the property to be purchased or refinanced are required.