In the current competitive real estate market, it is essential that you obtain every advantage you possibly can.
This might be as simple as doing research on the suburb through real estate platforms like domain.com.au or realeastate.com.au or as thorough as hiring a property agent to compile a complete assessment of potential properties.
Step 2 – Sorting your application
Now that you’ve picked your home loan, it’s time to apply. Your broker will be right there to offer you a guiding hand through the process. They’ll let you know what documents you need to provide, and you’ll also go through the age-old ritual of filling out and signing a number of forms. The broker will send off the application to the mortgage lender when it’s done and dusted.
Step 3 – Getting pre-approved
Once the lender gets your application, the ball’s in their court. They’ll spend some time going through the information you’ve provided to make sure all the details check out. They’ll also use a credit reporting agency to check your credit history. Once you pass, then congratulations – you’ve obtained pre-approval for the loan, and you now are ready to find your dream home!