Top 6 reasons to use a mortgage broker for home loan pre-approval

1. We can get your loan approved very quickly, if you need it.

Loan Market knows the lenders with the fastest approval times and the lowest rates. Our brokers will quickly take the steps to take to get your loan moving quickly.

Our mortgage brokers have relationships with over 30 lenders and know what's needed to processes your application it as quickly as possible with each of those lenders.

 2. We'll get you a formal approval, which is much better than any 'instant' online approval.

Be wary of any website that offers you a pre-approved home loan without taking the time to assess your financial situation. Unless a bank or lender has fully assessed and approved your financials, any ‘approval’ you get may not accurately reflect what a bank or lender will actually lend you.

A formal loan approval is a type of approval issued by a bank or lender after they have received and reviewed documents from you or your mortgage broker that outline your current financial situation. Once the lender or bank has approved your loan, based on the documents you provided, you’ll have a formal loan approval that allows you to shop with confidence.

3. Buying and shopping for property will be much easier.

Home loan pre-approval means you've got a bank of your side, ready to lend you an approved amount of money when you've found the property you want.

Here's the top 3 ways shopping is easiest with pre-approval:
You can attend open homes and auctions and know what your price limit is.
You can see how spending more will impact your repayments
Your final loan will be organised faster.
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4. Your loan approval will be good for months.

Pre-approval lengths differ from lender-to-lender but but most pre-approvals expire after 3 months. When your pre-approval expires your mortgage broker can easily apply for the loan again for you and there is no cost involved. In most situations reapplying for the loan is a simpler process because your previous application contains the information needed.

When reapplying for a loan you should be aware of any changes in the interest rate of the product you applied for as both fixed and variable rates can change independent of each other..

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5. Amazing Service. Zero Cost

There's no cost for getting a home loan pre-approval from a mortgage broker or a bank. The reason for this is that the lender you choose will pay the mortgage broker.

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6. We've helped hundreds of Australians with pre-approval every week.

For more than two decades we've been helping Australians find the right home loan and getting our customers pre-approved is something we do well. If you want to see the unfiltered and unbiased reviews of our customers, check out our Google Reviews !