How To Get Home Loan Pre-Approval
There are many advantages of getting home loan pre approval, but the one which tops most people's lists is peace of mind.
Knowing you are one step closer to securing the finance for your own home is a great feeling.
The best aspect of home loan pre-approval is that it gives you an estimate of how much you can afford to spend on a property, which gives you a price range to look at when you start searching for houses.
It will give you an idea of your borrowing capacity, although this can vary between lenders and home loan products.
The great thing about being able to get your home loan pre-approved is that it gives you the freedom to go to an auction and if you find the home of your dreams, you can make an offer on it.
However, your home loan pre-approval lasts for three months so there is no need to rush into buying a home.
After you get your approval, you can freely start searching for a property, bringing you one step closer to becoming a homeowner.
For more detailed information about your situation, talk to a Loan Market mortgage broker today.Tags: borrowing capacity, home loan pre-approval, mortgage broker