Home Loans

Purchasing a home is a significant milestone, and at Get Approved, we understand the importance of securing the right Home Loan. Our team is dedicated to helping you access Home Loan options from banks and lenders across the country. We provide guidance on everything from interest rate options to lenders mortgage insurance (LMI), ensuring the journey to buying a home is as seamless as possible. Our experts are here to assist with every stage, from applying for a home loan to understanding your borrowing capacity.

When it comes to Home Loan options, there are many factors to consider. For starters, understanding your financial situation and credit history is crucial. These elements play a vital role in determining your loan amount and the interest rate you may be eligible for. At Get Approved, we help you assess your credit history and financial situation, ensuring you are well-prepared for the Home Loan application process. We guide you on how to calculate home loan repayments and explore interest rate discounts that might be available to you.

Additionally, knowing the difference between fixed interest rate home loans and variable home loan rates can significantly impact your financial planning. A fixed interest rate provides stability with predictable repayments, while a variable interest rate may offer more flexibility and potential savings if market conditions change. Our team can explain these options and help you decide which best suits your needs.

Another key aspect of buying a home is understanding costs such as stamp duty and lenders mortgage insurance (LMI). LMI is often required if your loan to value ratio (LVR) is above a certain threshold. We help you navigate these costs and explore strategies like utilising an offset account to reduce the interest on your loan. Moreover, getting pre-approved for a Home Loan can streamline the buying process, giving you the confidence to make an offer when you find the perfect property.

At Get Approved, we pride ourselves on our streamlined application process. We simplify the steps involved in applying for a home loan, assisting with everything from gathering bank statements to getting pre-approved. Our expertise in the property market ensures that you have access to competitive Home Loan Rates and the best possible terms for your situation.

Get Approved is here to support you through every step. With our help, you'll understand your borrowing capacity and have a clear view of your financial situation. Reach out to us today to apply for a home loan or get pre-approved, and let us assist you in making your dream of buying a home a reality.

1. Understanding Your Needs

Your mortgage journey begins with a detailed consultation with your Finance & Mortgage Broker. Your broker will listen to your property goals, whether you’re buying a home, investing in real estate, or seeking a commercial loan. They will assess your financial situation, considering factors like income, savings, liabilities, and credit history, to provide tailored advice on loan options available to you.

2. Financial Positioning

Your broker will request relevant documentation such as bank statements, recent tax returns, and evidence of assets and liabilities to determine your borrowing capacity. They will calculate how much you can afford to borrow, considering important factors like LVR, potential LMI, and interest rates. Your broker will also advise you on how to improve your financial standing if necessary, ensuring you are in the best position to apply for a loan.

3. Comparing Loan Options

Once your financial situation is fully assessed, your broker will begin comparing loan products from a range of lenders across Australia. They will help you weigh the benefits of fixed interest rate loans versus variable interest rate loans, as well as exploring options for offset accounts and interest rate discounts. They will also explain important terms like loan features, fees, and other considerations like the potential for future rate changes or LVR adjustments.

4. Pre-Approval Process

Pre-approval is a crucial step in the property buying process. With pre-approval, you’ll have a clear idea of the loan amount you can borrow, which strengthens your position in the local property market. Your broker will help you gather the necessary documents and submit them to the lender for pre-approval, ensuring the process is as quick and straightforward as possible.

5. Submitting the Loan Application

Once pre-approval is in hand, your broker will help you complete the loan application. They will guide you through submitting all necessary paperwork to the lender, including documents like bank statements, proof of income, and details of existing liabilities. Your broker will communicate directly with the lender to ensure the application is processed quickly, ensuring no delays in getting you the loan you need.

6. Loan Approval & Settlement

After your loan is approved, your broker will review the final loan offer with you and help arrange any necessary insurance, such as mortgage protection insurance. They will also work with you to ensure you understand the terms of the loan and guide you through the settlement process. Your broker will remain available to help you navigate any final hurdles before you complete the purchase of your property.

7. Finalising Ownership

The final step is settlement, when your loan is officially advanced, and you take ownership of the property. Your broker will coordinate with the lender and conveyancer to ensure the transfer goes smoothly. Once the settlement is complete, you’ll officially become the owner of the property, and your Finance & Mortgage Broker will continue to offer guidance to help you manage your loan and stay on track with repayments.