Three steps to home loan pre-approval

With the arrival of spring, it’s customary for the real estate market to spring to life. If you’re contemplating your next property investment, we strongly advise securing a pre-approved home loan. This not only streamlines your property hunt but also safeguards you from potential overspending during auctions.

How long does pre-approval take?

The time it takes to receive pre-approvals may differ between lenders once you’ve submitted your application. Please consult your 1st Street Mortgage Broker to determine the estimated processing time for your chosen lender. Ensuring you provide all necessary documentation upfront can expedite the process.

Follow these three easy steps to get your home loan pre-approval.

1. Collect your documents:

  • Proof of identity
  • Proof of income and savings
  • Proof of living expenses and other expenditure
  • Evidence of current assets and liabilities

2. Talk with us to find out:

  • How much you can borrow
  • How much you require for a deposit
  • How much you can repay each month
  • If you qualify for a government grant or concession

3. Submit Pre-approval application with a lender:

  • We fill out the forms and do all the work
  • The lender provides confirmation in writing
  • Pre-approval lasts for 3-6 months

If you’re ready to start your search for a new home or investment property, contact your 1st Street Mortgage Broker to organise pre-approval early so you are ready to act fast when you find the right property.

Learn more about the advantages of pre-approval.

Don’t hesitate to get in touch with us if you want to examine your options. Our 1st Street team are here to support you and are well-equipped to tackle any questions you might have.

Our service is completely

Free

Yes, that’s right. You pay zero, zip, nada.

1st Street’s premium service comes at no cost to you! 1st Street is paid by the lender when your loan settles, however, this will not affect your interest rate or loan fees! It is often more cost-effective for a mortgage broker to process a loan rather than the lenders processing it themselves in-house. In fact, we often find that we can save you money by negotiating on your behalf.

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