home loan pre-approval...

Home loan pre-approval is offered by most banks and lenders and is usually valid for three months. It is straightforward and something you should definitely get if you possibly can, no matter how much you are intending to borrow. A pre-approval is similar to full finance approval except that the property you intend to purchase has not yet been determined. If you want to be able to negotiate with confidence or bid at auction under pretty much the same conditions as a cash contract, then home loan pre-approval is for you.

Unconditional Pre-Approval

There are many 'versions' of home loan pre-approvals and many are only indications. If you want something you can rely on, what you are looking for is unconditional pre-approval. It will typically cost you some money in processing and assessment fees, but is the only way to get pre-approval and allows you to negotiate with confidence or bid at auction under pretty much the same conditions as a cash contract.

Your Valuation still needs to stack up

Bear in mind that your valuation will still be a condition of your approval. In slower real estate markets, valuations can often come in lower than you might expect. If you are intending to buy at auction or sign a cash contract, it is highly advisable to get the property valued prior to the auction or signing, through the lender you intend to go with.

Get Pre-Approval through a Good Mortgage Broker

You can organise Pre-Approval through a good mortgage broker. We recommend Robert Claxton at Loan Market. His services are free and he has helped many home owners in our area over many years and understands local property values and finding the home loan which is in your best interest.

You can call Robert Claxton direct on 0439 910 229 or click on the link to view his profile www.loanmarket.com.au/qld/robert.claxton.htm