Applying for a pre-approval on your home loan these are four things you need to know.


Number 1 – The bank might still require extra information such as a property valuation and recent pay slips, reduced delays by preparing these documents ahead.


Number 2 – When house hunting or attending an auction keep your offer within the amount that has been pre-approved;


Number 3 – A conditional approval usually lasts three months but can be extended. however, you require another credit file check for this.


Number 4 – Work with a mortgage broker it gives you a higher chance of being formally approved and avoiding heartaches because not all pre-approvals lead to a formal approval.

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