Find a Pre Approval Home Loan with AUSUN Finance
At AUSUN Finance, our experienced brokers are here to simplify the process of getting a home loan in Melbourne. Whether you’re buying your first home, upgrading to a new one or investing, we can provide support at every step, working closely with you to understand your financial situation and find you a suitable home loan with pre approval. With our extensive network of lenders and personalised guidance, you can be ready to act fast once you find your dream home.
The Benefits
Know Your Budget
A mortgage pre approval helps you understand how much you can afford, setting clear limits on your property search. This eliminates guesswork and ensures you focus only on homes within your budget.
Stronger Position in Negotiations
With pre approval in hand, sellers and agents see you as a serious buyer, giving you an edge in negotiations and potentially leading to a better deal.
Faster Loan Approval Process
Pre approval finance simplifies the final loan approval process. Once you’ve found your property, much of the initial home loan application checklist has already been completed, allowing you to move quickly and confidently.
Peace of Mind
A pre approval home loan provides financial clarity and reduces stress. Knowing your borrowing capacity helps you make informed decisions without worrying about last-minute surprises.
What is Home Loan
Pre Approval?
Home loan pre approval is an indication from a lender of how much they’re willing to lend you for a property purchase, based on an assessment of your financial situation. It provides a clear budget framework and demonstrates to sellers that you’re a serious buyer. Pre approval for home loans usually involves submitting financial documents, such as proof of income, expenses and credit history. While not a formal loan guarantee, it’s an essential first step in the property-buying journey that can take the stress out of applying for home loans in Australia.
Why Choose AUSUN Finance as
Your Pre Approval Finance Broker?
- Access to a wide range of lenders and loan products, helping you compare home loans in Australia
- Dedicated support throughout the application process
- Expert negotiation on your behalf to secure competitive rates
- Transparent and hassle-free service from start to finish
Pre Approval
What is a pre-approval?
Pre-approval is an indication from a lender that you’re eligible to apply for a home loan up to a certain limit. You’re under no obligation to take the loan, and the lender has no obligation to lend you that amount, but it can show sellers you’re serious about buying and that you’re confident you can afford the property.
Key advantages of getting for a pre-approval:
- Provide a price range of the properties you should be looking for.
- Setting your optimal budget upfront.
- Confidence when negotiating your purchase or going for an auction.
- Saving time on the formal loan application after your purchase as some of the work has already been done, so it’s a lot easier and quicker to get the loan application formally approved.
New Purchase Finance
Buying your first home or a new investment property?
We understand buying your first home is one of your top priorities. As it is probably your first time buying a property and looking for a loan product, you may feel unsure where to start. For an investment purchase, it’s also critical to understand the return the property will provide as well as the interest and fees that you will be paying so you can have a clear picture of the overall ROI of the investment.
We provide our clients with many options including loan structure design, flexible payment, interest only, increased loan term as well as low rates, from the most competitive lenders in the marketplace.
- We will compare over 50 lenders in our panel to find the most suitable loan for you.
- For first home buyers, who might be tight on savings. In such circumstances, we will explain how Lender’s Mortgage Insurance works and whether this cost applies to you.
- We will let you know whether you are able to access any government assistance or concessions, such as First Home Owner Grant etc.
- After determining the right lender and product for you, we will let you know what are the documents that are required for the loan application.
- We will take care of your home loan application from start to end. You can rest assured to have the most smooth loan application you can expect.
AUSUN Finance will be with you every step of the way making your first home buying experience a pleasure.
Refinance
When should you consider a refinance?
Have you asked yourself the following questions?
- Has your home loan needs changed over time? Is your existing loan still the best one for you?
- Would you like to consolidate other types of debts by borrowing more from the equity you gained in your home or investment property?
- Are the interest rate and fees that you are paying for your existing home loan still competitive in the market?
If the answer is YES to any of the questions above, you might take some time to think about refinancing.
How we can help you with refinancing:
- We will help you review your latest home loan needs and any considerations on refinancing.
- Determine the best loan product in the market for you, and very importantly discuss with you the benefits of refinancing to the product as well as your overall refinancing cost.
- Handled the paperwork of your refinances application from start to finish.
Construction Loan
What is a construction loan?
A construction loan is a mortgage loan product designed for those who are would like to a new home or investment property. It generally works as below:
- You have purchased a vacant land or a land with an old house to be demolished, and then you have arranged with a builder to build a house on it in an agreed timeframe. The builder would require you to pay 5% of the total construction cost as a deposit.
- You apply for a construction loan and the application is approved.
- The builder commences the construction.
- The lender releases funds to the builder as progress is made.
Features of construction loans
- You will only be charged interest on the actual drawn down amount instead of the full loan amount. This can help you save money during the construction process.
- Your cash flow is bettered managed as the during the construction period, it’s only interest payment.
Low Doc Loan
What is Low Doc Loan?
Low Doc Loans(Low Documentation Loans) have lots of flexibility on the required documentation. They are generally for the self-employed who may find it difficult to apply for a traditional home loan, because many businesses may write off expenses, reinvest profits back into a business which makes it difficult to show a high level of business income.
Features of Low Doc Loan:
- Self-declared income
- Accountant’s letter to advise on turnover and profitability
- Good credit history for existing and previous loans
- Potentially higher interest rate than a traditional home loan, although some products in the market offer very similar interest rates.
Frequently Asked Questions
Have questions in your mind? We’re here to help.
How long do pre approvals last?
A home loan pre approval typically lasts between 3 to 6 months, depending on the lender. This timeframe gives you a window to find a suitable property and make an offer before needing to reapply. If your pre approval expires before you find a property, you may need to update your financial details and submit a new application, as lenders want to ensure your financial situation remains stable.
How do you get pre approval for a home loan?
What are the steps to obtain a mortgage pre approval?
What are the differences between pre approval home loans and conditional approval home loans?
How can pre approved mortgages help you secure a property faster?
Get Started Today
Ready to take the first step toward homeownership? AUSUN Finance can guide you through the process and help you find suitable pre approved mortgages. Contact us today to speak with one of our friendly brokers.