The Approval Process.

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The Approval Process

For home loans, business loans, commercial loans and car loans

When it comes to home loans, understanding the approval process will empower you to save you confusion, frustration and time, and at Mint Money, we’ll help you put those pieces together. As professional and trusted loan advisors, we understand the mechanics of the approval process and we’re here to explain the process from start to finish.

From a buyer’s perspective, knowing the approval process is paramount to a streamlined transaction.

Our 8 step loan application process

STEP 1 - Selecting the right loan

When we meet, we’ll discuss your situation and objectives. We’ll provide you unbiased and trusted advice, then it’s a matter of choosing the right lending product for you. We’ll provide you with all the necessary information. Interested in meeting.

STEP 2 - Submitting your loan application

We’ll submit your application to the lender for approval – all fine print read, all lines signed, no confusion. Turnaround time varies between one and five days but using Mint Money will ensure it happens efficiently.

STEP 3 - Start looking when you have conditional approval

Start looking for your new home once conditional approval is given. It may be valid for up to six months. Finance is subject to conditions such as property valuation, we’ll walk you through all of this.

STEP 4 - Purchasing your new property

Once you’ve found a property either from auction or by negotiation with the real estate agent (you may have completed a contract), contact us. We’ll let you know what to be aware of and what to do next.

STEP 5 - Getting a property valuation

We’ll organise independent valuers to confirm (for you and the lender) that you are paying what the property is worth. This can take up to five days, but using Mint Money will ensure it streamlines the process.

STEP 6 - Formal approval to purchase your home

Within 1-2 days of the valuation being returned and provided all conditions have been satisfied, formal approval will be issued.

STEP 7 - Understanding your mortgage requirements

We’ll guide you through your final mortgage documentation and ensure you understand your loan repayments and fees.

STEP 8 - Settlement

Settlement occurs when your solicitor, the seller’s solicitor and the lender sign the contracts. Your solicitor or real estate agent will ring you to confirm this has been completed.

Congratulations! You now own your new property!

How does it all work?

At Mint Money, we’re mortgage and finance brokers, meaning we act on your behalf to find and secure the best available loan for your needs, and walk you through everything along the way. We’re not a financial institution, we’re unbiased, we’re trusted and our services don’t cost a thing.

Say goodbye to paperwork, confusing fine print, unexpected fees and spending time trying to make sense of it all – that’s where we come in.

We’ll help you:

  • decide which lender to go with
  • choose the loan that will maximise your return
  • budget
  • choose the right options for you
  • choose the loan that will maximise your return
  • budget
  • get through the approval process
  • read all the fine print
  • calculate how much you can borrow
  • avoid confusion and endless hours of researching
  • understand any extra costs

Securing the right loan is easy with Mint Money.

Get ahead today. Speak with a Mint Money approval process expert now.

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