Do you want the confidence of walking into your dream home and making an offer knowing you are backed by pre-approved finance?
Looking for a new home can be both daunting and exhilarating. Whether it be purchasing your first home, moving houses, or building an investment portfolio, pre-approved loans allow you to shop with confidence.
What is a pre-approval?
A pre-approval is a conditional approval granted by a lender that allows you to apply for a home loan up to a certain limit. It allows you to focus on your property search with a clear idea of affordability in mind. The document requirements are similar to full formal approvals as the lender must consider your income, current commitments such as other loans or credit cards, living expenses, deposit, and funds to complete the purchase.
Why is it important to obtain a pre-approval?
- Demonstrating to the seller you are serious
- Provides an idea of how much you can afford
- In a position to move quickly and bid with certainty
- No obligation