Home Loan Pre-Approval
Considering purchasing a house? You might have come across the term “pre-approval” and its significance in the home-buying journey.
Pre-approval, also referred to as conditional approval, indicative approval, approval in principle or home seeker based on the financial institution, is essentially a lender’s preliminary promise to grant you a loan for a future property purchase. This assurance hinges on you selecting an appropriate home and maintaining your current income and financial status.
Securing a pre-approval positions you advantageously, which can translate into better deals and accelerating your path to acquiring your ideal home.
Always remember that a pre-approval indicates that a bank or lender is highly likely to approve your loan when you apply however it is never a 100% guarantee.
Talk to us to get your pre-approval journey started today.