Your dream home is just a pre-approval away
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Do you want to move one step closer to your dream home?
Do you want to know your borrowing power?
Do you want to bid at auctions?
If you answer yes to all three questions, getting a pre-approval is the right step for you.
Benefits of Pre-approval
Getting a pre-approval is one of the most important steps you need to take in purchasing a home or an investment property. It means that your lender has agreed, in principle, to lend you the amount of money you require towards your purchase. It can give you a much higher level of assurance with a written contract and will show the seller that you are a serious buyer.
Having a home loan pre-approval is a must if buying at auctions. It’s a general rule at auctions that once a hammer falls there is no cooling off period, and if you are the highest bidder you’re committed to the purchase, which means you cannot afford to leave funding to chance.
With a pre-approval in place, you’ll have the advantage when it comes to price negotiations for properties sold through private treaty as it boosts your confidence and increases your negotiating power with the seller for a fast tracked settlement.
Getting a pre-approval is free and there are no obligations to buy. It has no cost and it is your choice whether or not you will utilize the mortgage pre-approval.
Why Do I Need a Mortgage Broker to Acquire a Pre-approval?
If you need an expert to assist you with the process of acquiring a home loan pre-approval, getting help from a mortgage broker is your best option. There are several good reasons for this.
First, a mortgage broker can assess your financial circumstances and create property finance strategies suitable to your financial standing.
Second, they make the process of getting a pre-approval easier by doing the lender research, providing you with loan recommendations based on your personal situation and a lender comparison, which guides borrowers in choosing the best lender to move forward with. Mortgage Brokers have in depth experience with lenders and they can assess which lender can give you an approval the fastest time and who won’t. They are usually also the first to know about the current deals and offerings.
Third, a mortgage broker’s expertise includes finding the right loan structure for you and you are more likely to receive loan approval with the right loan structure that maximises any loan terms and features in your favour.
Mortgage Brokers have the knowledge on what lenders require from loan applicants and guide them when it comes to the documents they have to submit. They usually do the checking of documents and requirements just to ensure that you will qualify and get pre-approved. They can even complete the application for you and make follow ups with the lender, thus speeding up the entire process. As they take care of most of the paperwork for you, this saves you much needed time and stress.
These are reasons why finding the right mortgage broker is vital. If you want to deal with professional and experienced brokers who can provide you with hassle free and quality service, Investors Mortgage is glad to be of service.
Our team of brokers has been helping home buyers and investors since 2007 with the mission of creating extraordinary mortgage solutions for Australians.Let Investors Mortgage team assist you in getting your pre-approval for your dream home.
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