What is Pre-Approval and why we recommend it…..

9 September 2015

What is ‘Pre-Approval’ and why you should obtain this before you sign a real estate contract…..

What is pre-approval and what is subject to finance? Many first home buyers believe you don’t need pre-approval if you intend to use a subject to finance clause in the sales contract when you find a property to buy. But that’s not the case! In this article we explain why it’s a wise move to get pre-approval on your home loan and use a subject to finance clause as well if you can.

What does ‘pre-approval’ mean?
When you’ve saved your deposit and you’re ready to purchase your home, it’s a wise move to talk to us about getting pre-approval on your home loan. Pre-approval is where a lender confirms how much money they may be prepared to lend to you to purchase a home, based on the deposit you have saved, your income, expenses and your personal financial situation.

Read On…….

 

Pre Approved

You may also like

Investment & Economic Snapshot April 2024

Investment & Economic Snapshot April 2024

As of April 2024 Highlights Risk aversion and moderating expectations for interest rate cuts pressure bond and equity markets. Australian and US inflation data releases came in higher than expected as services inflation remains elevated. Geopolitical tensions...

read more
September 2022 Newsletter

September 2022 Newsletter

Your Financial Guide Newsletter September 2022 This edition, we will introduce you to a new team member! We talk about the superannuation contribution rules that changed in July. We also talk about inflation, and the importance of being vigilant with regards to cyber...

read more
March 2022 Newsletter

March 2022 Newsletter

Your Financial Guide Newsletter March 2022 I'm sure when 2022 started, we were all hoping for a positive and less dramatic year considering the last 2 years. Sadly it's not the case, and like the rest of the world we are deeply saddened with he current plight of the...

read more