Looking for a Quick Home Loan? Here’s What You Need to Know


Looking for a Quick Home Loan? Here’s What You Need to Know

Looking for a Quick Home Loan? Here’s What You Need to Know

Do you need a home loan soon? Well, you just have to be lucky. Now, many lenders are prioritizing faster loan approval. However, lenders can also play an important role in speeding up the process.

Timing is important when you find the perfect home as you rush to secure it. But getting a quick Home Loan is equally important.

The good news is that processing times for home loans at major banks have reached record speeds, with even smaller lenders reducing processing times, the latest reported Broker Pulse survey.

Having your loan sorted should not be­ overlooked.

You must get your loan re­ady by settlement date­, six weeks after contract signing. If you don’t, the­ seller can charge inte­rest and fees .

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Loan Approval Time­frames Explained

Differe­nt lenders take diffe­rent times to process home­ loans. Some claim it’s as fast as an hour, but that’s rarely true.

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Ge­nerally, allow four to six weeks from application to having funds available­. Need money soone­r? We can find a fast lender and spe­ed things up.

Prioritize the right home loan for your needs, rather than rushing to choose a mortgage with a faster maturity period. Here are five ways to speed up the home loan process:

Contact us first:
Start a conversation with us to understand the nature of your loan, the amount of deposit required, and see how ready your finances are to approve the lender. Our search and resource acquisition may provide an estimate of current approval timelines with various lenders.

Complete your forms:
Collect all important documents commonly requested by lenders, such as pay slips, birth certificates and other proofs of identity, as well as recent bank statements covering 3-6 months Don’t know the requirements? We are here to help you through this process.

Avoid major lifestyle changes:
Stay away from major life changes by starting a new job or business before applying for a loan. Such changes could raise questions from lenders, potentially delaying the approval process. Stabilizing your budget and business can mitigate such concerns and make the approval process easier.

4. Double-check you’ve completed the application accurately

Any mistakes in your application can result in the documents being returned to you for correction, putting the brakes on the entire process. Additionally, we can help reduce the potential for inconsistencies in your application.

5 Ask us about pre-approved loans

Waiting until you have paid off your deposit and applying for a mortgage can be a very important, stressful process. Loan pre-approval is one way to help speed up the loan application process and can increase your vendor negotiating power.

Call us today for more tips on getting your credit on the line – we’ll be happy to help you move into your new home faster

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