Home Loans - Home loan application process

Once you and your Mortgage Choice broker have chosen a home loan that’s right for you, it’s time to submit an application. The process varies between lenders, but we’ve provided a general order of events below.

  • 1
    1 hour

    We'll meet with you to understand your financial & lifestyle goals. We'll search through hundreds of home loans to find the one that's right for you, calculate your borrowing power, work out repayments and answer any questions that you may have.

  • 2
    1 - 2 days

    Once we've helped you choose the loan that's right for you, we'll help you prepare the application and guide you through the process.

  • 3
    3 - 5 days

    The lender will provide conditional approval while they organise the property valuation and conduct a credit check. We'll stay in touch with the lender and keep you informed along the way.

  • 4
    5 - 8 days

    Unconditional (full) approval is formal acknowledgement that your home loan application has been approved.

  • 5
    5 -10 days

    Your loan is both a significant financial commitment and a strong financial foundation. We'll cover the cost of a discussion with our FinChoice financial adviser to help you manage your money through this major change, work out a plan for the future, and help protect what you're building along the way.

  • 6
    5 - 10 days

    Once your loan documents arrive, we'll organise a time to meet and help you complete the document.

  • 7
    5 - 15 days

    Loan settlement: if you're purchasing a property, your solicitor / conveyancer will organise settlement directly with the lender, according to the settlement date on the contract of sale. If you're refinancing your existing home loan, the lenders will liaise directly to exchange the documents.

  • 8
    Total process 4 - 8 weeks

    Keeping in touch: our service doesn't end once your loan settles. We will stay in touch to make sure your home loan is the right solution for your needs now and in the future.

What is home loan pre-approval?

When it comes to buying a home, it’s good to have all your ducks in a row before you start house hunting, and having home loan pre-approval in place means you’re good to go when you find the home of your dreams.

Find out more - watch this quick video.

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