Why Home Loan Pre Approval Makes Sense
If you are planning on buying a property, home loan pre approval is an excellent way to help you go about doing so more confidently and more intelligently.
Having your loan pre approved will give you a clear idea of what your borrowing capacity is, meaning you will know exactly what you can afford. This can help save you time by letting you focus only on homes that are in your price range.
When you discover a property you are interested in, your pre approval will show real estate agents and sellers that you are serious about buying a home, and will put you in a better position to negotiate.
If the house is selling at auction, you won’t have to miss out for fear of making an unconditional bid - your finances will already be arranged, letting you proceed with assurance.
And when you’re convinced you’ve found your future home, final unconditional approval can happen very quickly - even within a few hours.
The best thing about home loan pre approval is that it is free, valid for up to three months and completely no-obligation.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.