7 Steps Of Lending

7 Steps Of Lending

Ready for a financial breakthrough?
Call us now for personalized loan solutions and expert advice tailored to your goals.

Securing a home loan involves several steps, which are outlined below:

1. Determine your borrowing capacity: The first step is to assess your borrowing capacity based on your income, expenses, and other financial obligations. To estimate your borrowing capability, you can use online calculators or talk with a mortgage broker.

2. Choose a home loan type: There are different types of home loans, such as variable rate, fixed rate, split rate, interest-only, and line of credit. Consider your needs and preferences to choose a loan that suits you.

3. Compare loan options: Explore and evaluate multiple loan options provided by various lenders. To find the best loan for you, consider the interest rates, fees, repayment periods, and other loan features.

4. Pre-approval: After deciding on a loan, you can file for pre-approval, which is a conditional approval for a specific loan amount. This gives you an idea of how much you can afford to spend on a home and enables you to confidently make an offer.

5. Find a property: Start searching for a property that fits your requirements and budget. When you find a property that appeals to you, you can make an offer, and if it is accepted, you can proceed to the next step.

6. Formal approval: After you have found a property and made an offer, you can apply for formal approval of the home loan. This involves providing the lender with additional documentation such as payslips, bank statements, and identification.

7. Settlement: Once your loan is approved, you will need to sign the loan agreement and any other relevant documents. Your lender will then transfer the funds to the seller, and you will become the legal owner of the property.

Overall, securing a home loan can be a complicated process, and it is critical to seek professional advice from a mortgage broker or financial advisor to ensure you make the best choice for your specific situation.

FAQs

Got questions? Find answers to some of the most commonly asked questions about our financial solutions, processes, and services to help you make informed decisions.

What is Lender’s Mortgage Insurance (LMI)?
How can making extra repayments benefit me?
What is Stamp Duty?
Which loans have a redraw option?

Testimonials

Discover how we’ve helped our clients navigate their financial journeys with personalized solutions. Read their stories of success and empowerment below.

A 5-STAR RATED FINANCIAL SOLUTIONS PROVIDER BY OUR CLIENTS

At Reliiance Financial Solutions, we have been privileged to have worked with hundreds of remarkable individuals and families.

Very few things come close to receiving their genuine appreciation of our services. All we can say in return is – the pleasure was all ours.

It is also our pleasure to share some client testimonials with you. Please click on Video Testimonials to view them all. Use the buttons at the bottom of the screen to navigate through the videos.

Scroll to Top