Home Loan Pre Approval
Home loan pre-approval allows you to bid at auctions with confidence and shop for your new home with peace of mind.
If you’re thinking of buying a property, a home loan pre-approval is definitely worth considering regardless of how much you are thinking of borrowing.
A home loan pre-approval will give you clear guide on how much money you have to work with putting you in a stronger position to negotiate with a vendor or bid at auction.
Advantages of Home Loan Pre-Approval:
- Home loan pre-approval is free
- Valid for up to 3 months
- Enables you to go shopping for your home with confidence
- Final unconditional finance approval, is faster
Make Sure You Get Formal Pre-Approval
There are a number of different types of home loan pre-approval provided by lenders, from a simple short form through to a formal written pre-approval.
To be sure of your borrowing capacity, secure a formal pre-approval. It is the only way to get the pre-approval you need to negotiate with confidence or bid at auction under almost the same conditions as a cash contract.
A Loan Market mortgage broker will help you secure home loan pre-approval so you can shop for your new home with confidence.
Apply For Home Loan Pre-Approval
*After You Have Found Your Property
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.
Are You Moving To A New Property – Bridging Loans?
Bridging home loans are a good way to buy a new property before the sale of your existing home.