Free pre approval for a home loan.
Acquiring a free pre approval for a home loan should be easy in most cases. 90% of lenders and Mortgage Brokers will not charge anything to submit and approve your home loan pre approval application, however some do - and others exclude pre approvals all together. We can help explain the pre approval process for a home loan and guarantee you upfront that all our home loan services are free. If you have any questions upfront or down the track, you are always welcome to send us an email or call us and ask - we are happy to help you navigate the process.
Why is a home loan pre approval free?
Mortgage Brokers and banks both want your business. A Mortgage Broker gets paid a commission when your pre approval is turned into a final approval, and the bank gets your business, and in turn, interest payments. The customer, the broker and the bank all benefit from providing free pre approvals to potential clients.
How do I get a free home loan pre approval?
Talk to us or another Mortgage Broker of your choice. After getting your details and financial position, we can assess your eligibility, likelihood of approval, maximum borrowing capacity, find the best home loan deal and then submit the application on your behalf. You will no doubt have a lot of questions in the initial and later stages, so having a professional working for you to answer those questions can be invaluable in many cases.
What documents will I need to submit to get my free pre approval?
The same documents as you would a regular home loan application without a contract of sale: payslips, identification, bank statements, liability statements and other relevant documents. Another advantage of applying for a pre approval is that you can request some documents not be provided until a later date. Driver licence expired or bank won't give you a recent statement for 2 weeks? We can request that certain documents not be provided until formal approval, meaning we can get your pre approval without full documentation in many cases.
|General requirements for a free home loan pre approval:|
|Permanent Australian Resident.|
|A regular source of income i.e. a job.|
|5% deposit + costs (generally $3,000+) or a guarantor. See the costs of buying a house in Qld for more info.|
|How we can help:|
|Assess your eligibility.|
|Explain the process in full and answer any questions.|
|Calculate your affordability.|
|Help choose the right lender and home loan product for you.|
|We won't charge you.|
FAQ about free home loan pre approvals:
How long will it take to get my free pre approved?
This depends on the lender, but generally under 1 week. See the pre approval process for a more detailed explanation.
Do you charge for your service?
No. The lender pays us a commission for a successful application so you needn't pay us anything. See how does a Mortgage Broker get paid for more details including current commission rates.
Can you do after-hours appointments?
Yes! After-hours and weekend appointments are welcomed, although your finance application will generally only be processed on week days.
Do you only service Brisbane?
We can do self employed home loans all over Australia, often over the phone. Our Mortgage Broker is however based in North Brisbane, and as such can service all surrounding areas in person: Albion – Alderley – Ascot – Aspley – Bald Hills – Banyo – Boondall – Bracken Ridge – Bridgeman Downs – Brighton – Brisbane Airport – Carseldine – Chermside – Chermside West – Clayfield – Deagon – Eagle Farm – Everton Park – Fitzgibbon – Gaythorne – Geebung – Gordon Park – Grange – Hamilton – Hendra – Kalinga– Kedron – Keperra – Lutwyche – McDowall – Mitchelton – Myrtletown – Newmarket – Northgate – Nudgee – Nudgee Beach – Nundah – Pinkenba – Sandgate – Shorncliffe – Stafford – Stafford Heights – Taigum – Virginia – Wavell Heights – Wilston – Windsor – Wooloowin – Zillmere.
Will a credit check be required?
We can pre-asses your application without a credit check, however the lender will be required to do one upon application.