THE LOAN APPLICATION PROCESS

THE LOAN APPLICATION PROCESS

Applying for a home loan typically entails four phases:

Initial Conversation

This is the first contact you’ll have with your mortgage consultant. We’ll discuss your situation, your needs, objectives and goals, and then determine if you’re likely to qualify for a loan. At this point, you’ll decide whether to use us as your mortgage consultant.

Returning your application and documents

If you decide to use us, we’ll ask you to complete a customer information form. We’ll also ask for supporting documents such as your ID, pay slips and bank statements. The process will go faster if you can provide these up front, all at once.

Initial assessment

After we have your application and supporting documents, we’ll do a preliminary assessment of your situation. This is a very detailed process where we identify..
• any possible problems from a lending point of view
• your borrowing capacity
• which lenders can help
• which loans offer the best fit at the lowest interest rates

Loan recommendation

After the preliminary assessment, we’ll recommend two or three loans that fit your needs and ask you to pick the one that works best for you.

Lodge the loan to the Lender

Once you’ve chosen your loan, we’ll prepare your application for the lender. We’ll ask you to provide any final documents and sign the lender’s privacy form. Then we’ll prepare the application and highlight the strengths that make it most appealing to that particular lender. When everything is assembled and ready, we’ll submit (or “lodge”) the application.

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