Here’s what you need to know about pre-approvals.

Rate drops create further opportunities

Eariler this month the Reserve Bank of Australia (RBA) announced a 0.15% rate cut, taking the official cash rate to just 0.1%. Lending laws have been up for discussion and it looks like the ball could very well be in the first home buyers and upgraders court in the future. Read on to learn how a pre-approval could benefit you and get in touch if you would like to explore your options.

It’s the corner piece to owning property

Pre-approval for a loan is like placing a corner piece of a jigsaw puzzle down on your coffee table. It costs nothing and has no immediate impact on your ability to complete the puzzle, but it is crucial because it provides you with an essential step in the right direction to the end product. The corner piece focuses the scope and dimensions of your puzzle and is the beginning of your exciting journey to becoming a homeowner. After all, you must start somewhere to put all the pieces together.

An extra set of eyes on the prize

Pre-approval is a subtle but distinct advantage to achieving the Australian dream of owning your first home. Once the corner piece is in place, all the nitty gritty details of your finances are given a ballpark figure. But getting pre-approval can be either light work or laborious, prolonged heavy lifting. As your local mortgage broker, I can be your extra set of eyes, to help place all the other pieces together accurately and efficiently. Not all lenders move quickly on pre-approvals and different lenders will access you as suitable (or not) for their products. I can provide you with a lender suitable to your situation and with all bells and whistles attached to that pre-approval.

The completed image

The beauty of a pre-approved loan is the strength it gives you at auctions or when browsing the real estate market. Securing your dream home at an affordable price requires urgency in providing an offer, and you can’t do that without pre-approval (actually you can, but that could be disastrous!). I want to help you complete the puzzle of owning a property that you love. So let’s put the corner piece in place…start by talking to me today, I’ll work out the most appropriate lenders for you, so that the process of being assessed for your first home loan isn’t as complicated as you thought when you first looked at all the pieces strewn over that coffee table.

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