What Comes First – the Property or the Loan?

Looking for your first or new home is an exciting though sometimes daunting prospect. The deciding of what kind of property you want and what you don’t, where you’d like to buy, how big the yard needs to be, it can be very easy to get caught up with all the planning of it all. Way down the list comes the tricky part – the finance and this really needs to be foremost in buyers minds before they even start to check the for sale listings.

Getting pre-approval for a home loan or even a check to find out if you’re eligible at all for finance should be at the top of your list and certainly well be before you make an offer on your dream home.

In today’s booming property market, competition is stiff for buyers. Having pre-approval for finance or knowing how much you are able to borrow, while not a necessity will certainly put you in a good position. Most vendors are hoping to sell their property with the least amount of fuss and if you’re putting in an offer and already have mortgage pre-approval, your application is likely to be looked at more favourably.

Having pre-approval also helps with the settlement process giving you more time to get all the paperwork organised as opposed to trying to get loan approval done by a deadline. You really don’t want to rush this process to ensure that you get the correct loan for your circumstances. Afterall, the loan is likely to be with you for some time.

If you think that getting pre-approval for a home loan is where you’d like to start, the first step is to contact Annette. She will then go over your options and advise on what steps you need to take in order to start looking for your dream home.

Need some Advice about loans?

A mortgage broker can help you find the right loan and secure the finance that’s most suitable for you. It will also ensure you avoid making mistakes.

Any questions you may have regarding loans, contact Annette Tothill on 0420 973 551.