You can skim through the loan application process page for a quick overview of the entire loan application process starting from the initial pre-application process of conversing with a broker to when your home loan settles and what comes after.
Here's a three step, concise version of the loan application process:
- Pre-application process - The pre-application process starts with your initial conversation with a mortgage brokers, providing the necessary home loan documents to them and then to the lender when everything is okay and you're ready to proceed.
- Loan application - Here, you usually start by securing a reliable pre-approval and then moving on to formal or unconditional approval after valuation of the property. Once you receive the loan offer and sign things up, you proceed to settlement where you actually get the loan funds.
- Beyond settlement - Although many mortgage brokers stick only up to settlement, we have a dedicated post-settlement team that will help you manage your home loan beyond settlement so you can stay in the most competitive rate and meet your objectives.
Cheers,
Otto