The key to most property transactions comes down to a buyer’s ability to secure finance.
But over the past 12 months, as interest rates have risen against a backdrop of higher property prices, obtaining finance hasn’t always been easy.
The first step most would-be buyers take is speaking to a mortgage broker and getting a pre-approval in place.
This episode explores whether pre-approvals are really worth the trouble.
What you’ll learn:
- (0:31) Introduction
- (2:22) Understanding Pre-Approvals and Pre-Qualifications for Loans
- (2:55) The Process and Benefits of Pre-Approvals
- (3:45) Conditions and Final Approval for Loans
- (4:34) The Importance of Pre-Approvals in a Rising Interest Rate Environment
- (5:26) Downsides and Potential Risks of Pre-Approvals
- (6:00) The Conditional Nature of Pre-Approvals
- (6:15) The Impact of Changing Financial Situations and Property Valuations
- (6:47) How Time-Consuming Are Pre-Approvals?
- (7:04) Necessary Paperwork for Pre-Approvals
- Loads more…
Links and Resources:
Australian Government – Moneysmart: Getting a Home Loan
#HomeLoans #PreApproval #FinanceTips #RealEstateAustralia #MortgageAdvice