Banks are becoming more stringent when it comes to processing home loan applications, and many buyers fall short in over-promising and under-delivering with their vendor when it comes to buying a property subject to finance. Today, we are going to talk about understanding the terms 'Pre-approval' and 'Approval' when it comes to securing a loan.
Evan Davis, Founder and CEO of Money Cat Finance has over 16 years of experience in mortgage broking and multiple successful ventures in the property development and investment space. Evan specialises in self-employed lending and had a passion for helping Australians realise the great Australian dream of home ownership.
1. What is a pre-approval?
a). What can it allow you to do?
b). How long does it last?
c). What will help you get your pre-approval through faster?
d). What obstacles can make the process longer?
e). If you have a pre-approval is it for a certain interest rate?
f). What do you need to do in the pre-approved time to ensure that if you do need to apply again, the process is easy?
2. What is a conditional approval or an indicative approval?
a). Why does the property need to be valued by the bank to approve the loan?
b). What happens if the bank values the property as less than what we paid for it?
3. When does the loan become an 'approved' loan?
CONTACT:
Evan Davis can be contacted by mobile on: 0413 467 246
Email: evan@moneycat.com.au
Money cat has offices in Prahran and Moorabbin.
Need Copywriting?
Call the 'Real Copy Right' Hotline: 5977 8889
Email: orders@realcopyright.com.au
Ep122: Sophie Lyon - The VCAT Process
Ep121 - Mark Perree: House and Contents Insurance - What You Need to Know When Selling Your House
Ep120: David Banks - Should I Buy First or Sell First?
Ep119: Kiani Mills - Title Insurance
Ep118: Lisa Carlyle and Chloe Martopo - How to Make Your Styling Unique to Your Property
Ep117: Luke Piccolo - Family Matters: Knowing the Steps When Selling a Deceased Estate
Ep116: Alistair McLean - The Appeal of the Retro and Mid-Century Home
Ep115: Shaun Moriarty and Steven Persson - Campaign Agent Collaborating with Homes For Homes
Ep114: Frank Valentic - Frank‘s Top 10 Don‘ts When It Comes to Investing
Replay Ep71: Josh Summers - Flipping Properties
Replay Ep52: Frank Valentic - The Cost of Selling
Replay Ep78: Nello Traficante - Using the Equity in Your Home to Buy an Investment
Ep113 - Town Taster: Venus Bay
Replay Ep56 - Sophie Lyon: The New Residential Tenancies Act
Ep112 - Christmas Recap Episode
Ep111: Chris Samartzis - Pool and Spa Safety Barriers and What You Need to Know When Buying, Selling and Leasing a Property
Ep110: Jodie Pipkorn from DISER - Energy Ratings - What Do They Mean?
Ep109: Kristen and Jax - Understanding the Different Sales Commission Structures
Ep108 - Town Taster: Lalor
Ep107: Tim Carson - Buying a Property for a Short Term Holiday Investment
Join Podbean Ads Marketplace and connect with engaged listeners.
Advertise Today
Create your
podcast in
minutes
It is Free
The No-Frills Teacher Podcast
Heal, Survive & Thrive!
Summarize | رادیو سامرایز
The Jordan B. Peterson Podcast
The Mel Robbins Podcast