There’s nothing quite like the thrill of finding the perfect house to buy – but there are still a few steps involved in making sure you get handed the keys. Getting homeloan pre-approval a critical move that can set you up for success – and can make the difference between a successful offer and a missed opportunity
Home loan pre-approval is a conditional offer from a lender, outlining how much they are willing to lend you, often in the form of a letter. There are a number of definite advantges to getting pre-approval:
- Know your borrowing capacity:
Knowing how much you can afford to spend on your new home, even before you begin house hunting, lets you set a realistic budget and focus their search, and It means you can attend open inspections with confidence, knowing exactly what you can afford.
- Show that you’re serious:
Real estate agents often view pre-approved buyers more favourably, as it signals that they are a serious, qualified buyer and financially ready to proceed. This can be a decisive factor when making an offer, as vendors (sellers) are more likely to consider a confident, pre-approved buyer over someone whose financial status is unknown.
- Timing can be everything:
In a market where properties can sell quickly, a pre-approval can give you a significant advantage over other potential buyers who haven't yet sorted their finances, potentially putting you at the front of the queue.
For everyone thinking of buying at Noarlunga, a home loan pre-approval is a powerful tool. It not only provides you with peace of mind but also strengthens your position, turning you from a casual browser into a qualified and competitive buyer ready to act when the perfect property comes along.
Renewal SA recommends that you seek professional advice from a mortgage broker or financial planner to help receive pre-approval from the lender that best suits your circumstances. Our highly experienced sales team are also here to help – just phone 1800 965 250 – or contact us at info@livenoarlunga.com.au