Fri, 2008-04-04 16:32 — administrator
Obtaining a pre approval for your home loan is an excellent way of ensuring you are eligible for a loan with a lender and will save a lot of time when an offer to puchase a property is accepted. Some purchasers have been able to negotiate better terms or price by having a home loan pre approval in place. Contact your finance broker and arrange a time to revisit the qualifier and select a loan type and the most competetive lender presently offering the loan type you prefer. Your finance broker will prepare the loan application and gather the required loan application supporting documents ready for submission to the chosen lender. Lodging a home loan application with all required information provides a greater chance of the loan application being approved quickly and without lengthy delays when additional information is requested. The home loan pre approval can last from between 90 days up to 12 months depending on which bank or lender has been selected. Once your home loan application has been pre approved you are able to seek out suitable properties and make offers to buy any that fit your criteria and are within your price range