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, apply 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 with your home loan pre-approval so you can shop for your new home with confidence.