Mortgage Choice Ballarat’s Home Loan Application Proces

 

At Mortgage Choice our goal is to provide our customers with a home loan that meets their needs. This varies from client to client as everyone’s circumstances are different.

Meeting with a mortgage broker can happen at any point in the home buying process, whether it’s right when you’ve started saving, through to when you’re confident you’ve got a deposit together and even on the day you’re bidding at auction! To secure your home loan, we sit with you and establish your home loan needs, whether you are a first home buyer, investor or upgrader.

Once your needs are established the next step is to determine borrowing power – this is how much each lender is able to offer you to buy your home. This is based mainly on the your income but other factors will be included such as existing debts, credit rating and any other assets you may have.

Once we’ve crunched the numbers and found out a rough idea of your borrowing power, we work with you to structure the most suitable home loan whilst explaining the different loan types such as principle and interest (often seen as P&I), Interest only, and the different repayment options such as fixed vs variable rates. We will also explain any cost associated with the loan and answer any questions you have.

We’ll compare the best selection of loan deals and help you pick the right one for your needs. We provide all of this expert advice as no cost to you because the lenders pay us.

Next we gather all the required documentation & information that the lender will require for the application.

  • ID
  • Payslips, (Tax returns if self-employed)
  • Bank Statements
  • Savings Statements
  • Home loan statements
  • Credit card statements
  • Personal loan statements
  • Employment History
  • Residential History

We will then put together the detailed loan application for you and submit it on your behalf. We do all the follow ups and chasing with settlement agents, banks and lawyers and work closely with you right through till settlement.

Our Service doesn’t stop there, we are always available to answer any questions you have regarding your loan.

Call us today on 03 5331 3632 no matter where you are in your home buying journey to make sure you’re getting the right loan and the right advice for your finances. 

 

Posted in: Home loans

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