A Home Loan Pre-Approval allows you to be 100% confident when you go to make an offer on a property because it tells you how much you can afford. Your pre-approval will usually be for your maximum borrowing capacity, meaning if you find a property that is priced at a higher amount, you are still free to negotiate.
Get Home Loan Pre Approval
To be 100% confident, get your local mortgage broker to help with your home loan pre-approval. Simply contact us on 13 LOAN (+61 2 9249 3739 direct) or fill in the brief contact form on this page and will be in touch shortly.
This is a completely obligation free service that includes:
- Finding the right loan from a panel of major banks and secure lenders
- Negotiating with the lender to get you a more personalised home loan package
- Help you compile supporting documentation and determining eligibility
- Help complete the application
Your Home Loan Pre-Approval Application
A home loan pre-approval application is assessed in exactly the same way as a full approval. The only difference is that the property you will purchase has not yet been determined.
Once your pre-approval application is submitted and assessed, your mortgage broker will contact you to confirm the success of your pre-approval application and discuss any terms or conditions that will need to be met.
These conditions generally include:
• finding a suitable property
• receipt of a registered valuation
• mortgage insurance acceptance (if applicable).
Your mortgage broker may encourage you to apply for more than you are thinking of borrowing. You can always reduce the amount, but if you need more than planned you will already be pre-approved for the higher amount.
Once you have found your property, you will need to advise your mortgage broker and provide a copy of the contract of sale. Full approval of your loan can take as little as an hour or it may take a few days if valuations are required.
To ensure that you do not miss out on any opportunities, get your local mortgage broker to help you with your home loan pre-approval. Simply complete our brief mortgage broker request form.
