We know it's a big deal, which is why you can count on us to help you every step of the way.
What’s the best way to guarantee that you get approved for a home loan? Is there anyway to improve your chances? 
Basically, applying for a home loan is daunting. You have to choose a lender, decide what type of home loan you require, gather supporting documents…. The list goes on. The best approach is to see a Local Brisbane Mortgage Broker and let us guide you along the way.
Home loan approvals usually take around two weeks, however this time frame can vary greatly depending on whether business is quiet or in high demand. Your mortgage broker is able to get you approval much faster than if you approached the lender by yourself.
1. Lenders Credit Score
So, how do lenders decide whether to lend you half a million dollars? Turning up to see the bank manager in a dry-cleaned suit, ironed shirt and tie will not get it in the bag anymore. Unfortunately, it’s a little more complicated than that! Most lenders will use a Credit Scoring System, where all of your details from the application form are entered. This gives your application a weighted score. If your application passes a pre-determined level, you will more than likely be pre-approved, and if your application is in order, then this generally means you are approved, subject to property valuation.
2. Credit History
Lenders want to see that you are reliable and able to make the minimum repayments. Your credit profile is made up of your personal details, credit applications from the previous five years, overdue accounts, bankruptcy information and public record information. This credit profile is assessed to see if you have a good credit history.
3. Property Valuation
If you have found a property which you want to purchase, the property will need to be valued, so that the lender knows the money they lend you is suitable for the property itself. All approvals are subject to the property valuation. The loan will be 'conditional' until this is completed. If you are seeking pre-approval, the loan will be conditional upon the property you choose. Once the lender receives the report, they will check that the valuation is within the parameters of the conditional approval amount. If it is, then the loan becomes unconditional and you are now fully approved. Keep a copy of your application and any attachments for any future reference.
4. Proof of Identity
You will need to show proof of identity (even no-doc home loans have this requirement) and records of income and savings.
Putting together the best application can take time, but it worth getting it right if it helps to secure finance approval for your dream home. Your mortgage broker can do a lot of the ground work for, chase up employment records, proof of address, income documents and so on. Why risk doing it alone? Get fast approval by calling  or submit your details on line.
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