If you’re in the market for a new property, then it’s important to be realistic about the amount of money you can afford to borrow.
Most people looking to purchase a property either for investment or personal use, will need to borrow money. Having a Pre-Approved loan is one way of ensuring your property search stays within a budget that a lender will approve.
Brisbane Home Loans, always recommends a Pre-Approval as the first step in your home buying journey to avoid unnecessary applications, and costs that cannot be recouped.
Loan Pre-Approval means that you submit a preliminary application to a lender prior to finding a property to purchase. The lender will review your application and confirm what type of loan and the maximum amount the lender will provide.
When applying for a Pre-Approved loan you will need to provide documentation, such as proof of deposit, proof of income, current monthly expenses, and any current credit commitments like personal loans or credit cards.
Irrespective of the amount the lender approves as part of the process, we always encourage clients to be prudent and borrow within their ability to service the loan.
- It is free and valid up for 3 months
- It gives you clear guidance on how much money you can spend.
- You won’t be setting yourself up for disappointment if you think you can spend more than your lender agrees to lend you.
- It allows you to shop with confidence and bid at auctions should your dream home come onto the market.
- It shows your estate agent that you are serious about buying a home.
- That all eligibility information supplied to the lender is true and correct.
- That the lender has received all the documentation necessary to verify deposit, security, assets, liabilities and income.
- The lenders satisfactory assessment (including a valuation) of any property offered as security for your client’s loan(s).
- Whether Lenders Mortgage Insurance is required. If it is required (generally when the loan amount is for more than 80% of the value of the security property) the loan(s) will be provided only if the insurer agrees to provide the insurance. The borrower will also need to pay the Lenders Mortgage Insurance premium.
The duration of the pre-approval will vary depending on the type of pre-approval and the lending institution. Once we understand your needs, our Mortgage Brokers will offer possible options.
In general terms, we need to establish what you need and understand your personal financial position. You can use the following as a guide:
- How much deposit you have saved;
- An indication of the price range of the properties you’re considering
- Your income;
- Your assets;
- Your living expenses;
- Other loans you may have; and
- Credit card debts.
As each client is different, this list is just an indication. We will provide a more definitive list as part of our initial meeting.
Either book an appointment online or call us on 07 3889 9250 and we can book a phone appointment with one of our experienced Mortgage Brokers.
Once the appointment is booked, we will send you an email containing a list of the information you should start to gather to make the process quicker.
We can also, email you and provide you access to our client portal via the internet where you can upload the necessary information prior or after out telephone meeting.
"Good Old Fashion Service" - Every Day
Why Choose Brisbane Home Loans
You're In Good Hands
Brisbane Home Loans is all about good old fashioned personal service without exception.
We continue to work for you after the deal is finished, ensuring that we asses any new offers that become available which may be of benefit to you.
We Tailor Things To You
We take the time to listen to your needs and then search the market for the best products that satisfies your needs at the lowest possible cost to you.
One Stop Lending
We give our clients access to Home Loans, Investment Loans, Commercial Loans and Asset Loans. You will only need to deal with one person for all your financing needs.
How We Work With Our Clients
We can meet clients in our office, in their home, office or the local coffee shop. Our initial interview will help us understand what you need in the short, medium and long term so that we can source the lender which will work best for you.
The world of financing continues to be more and more complicated. Our Finance Specialists have experience in finding the right product to meet the specific needs of each of our clients. During this phase, we identify three options that may be suitable for our client’s needs.
Our Finance Specialists will present available options to our clients providing a clear explanation of any differences, benefits and downfalls for each option.
Our Finance Specialists work with our clients to have all the loan documentation signed and the loans established.
Our services don’t just stop once the loan is settled. We will establish a reasonable review time-frame to ensure everything is running as planned, and also ensure our clients are kept up to date with any beneficial finance options available in the market.
Being Our First Home It Was Great Having The Knowledge of Daniel & The team at Brisbane Home
We have been working with Daniel and the team at Brisbane Home Loans for the purchase of our first home, being first home buyers it has been great having the knowledge of Daniel & the team at Brisbane Home Loans to support us. We can’t thank them enough for their support and making themselves available to answer all of our questions. I’d highly recommend Brisbane Home Loans.
We Saved More Than 1% On Our Existing Home Loans
We didn’t realize how important it was to review our home load until we engaged with Daniel and Jordan at Brisbane Home Loans. They helped in submitting our application which resulted in a saving of over 1% in interest on our loans, plus a reduction in our on going bank fees. I would recommend this business and thank Daniel and Jordan for making the process so easy.
Sam and Nicky
It was Our First Home and We had No Idea. Thanks to The Team From Brisbane Home Loans
Daniel and the team at Brisbane Home Loans were super helpful and friendly to me as it was my first home loan and I had no idea! They answered all my questions and were very hardworking. Would definitely recommend to a friend.
They Made Buying Our First Home Easy and Fun. Thanks
The team at Brisbane Home loans have been super helpful and extremely professional to assist us with all our first home questions.
will be recommending them to everyone I know looking to buy!
Thanks for Helping me Turn my Dream into a Reality
Service was great, very informative and kept me up to date on all progress and all steps. Follow up after it was all done and dusted was also great. Took the stress out of it which was a great help for my busy life. I would totally recommend Dan and Jordan to anyone.
Thanks for helping me get my dream into a reality.
Car Loan Approved In Less Than 3 Hours – So Wrapped
I could not believe how quickly Jordan was able to organise my car loan. He was so helpfull and I am truly greatfull.