Every lender has its own policies, but most assess the same core areas when reviewing a home loan application.

The key criteria

• Income and employment — stability and how it’s verified
• Living expenses — what you actually spend each month
• Existing debts and limits — including unused credit card limits
• Credit history — repayment behaviour and enquiries
• Deposit and savings — size and how it was saved

Ways to strengthen your application

Reduce or close unused credit cards, keep your spending consistent in the months before applying, and avoid multiple credit applications in a short period.

This article is general information only and does not take into account your objectives, financial situation or needs. Speak with a Pinnacle Mortgage broker for advice tailored to you.