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

STRATEGY GUIDE: Tax on Super & Division 296

STRATEGY GUIDE: Tax on Super & Division 296

One of the most talked about tax legislation changes that will impact less than 0.5% of the Australian adult population is Division 296.The main controversy of course is that the limit of $3m in super or above, is not indexed. So most young adults today will be...

read more
MONEY GUIDE: Setting up an SMSF

MONEY GUIDE: Setting up an SMSF

Setting up an SMSF can be complicated. Not getting it right can materially affect your financial situation and retirement plans.The first question you need to be sure about is whether an SMSF is the right fit. Seeking specialised financial advice can help you...

read more
Market implications for rising risks in the Middle East

Market implications for rising risks in the Middle East

The recent escalation of hostilities between Iran and Israel, now involving direct US military action, has created a complex environment for global investors. Over the past few days, markets have reacted with modest levels of volatility but have largely maintained...

read more