The Chasers Channel

TCC 14 - Are Pre-Approvals Really Worth It?



The key to most property transactions comes down to a buyer’s ability to secure finance.

But over the past 12 months, as interest rates have risen against a backdrop of higher property prices, obtaining finance hasn’t always been easy.

The first step most would-be buyers take is speaking to a mortgage broker and getting a pre-approval in place.

This episode explores whether pre-approvals are really worth the trouble.

What you’ll learn: 

  • (0:31) Introduction
  • (2:22) Understanding Pre-Approvals and Pre-Qualifications for Loans
  • (2:55) The Process and Benefits of Pre-Approvals
  • (3:45) Conditions and Final Approval for Loans
  • (4:34) The Importance of Pre-Approvals in a Rising Interest Rate Environment
  • (5:26) Downsides and Potential Risks of Pre-Approvals
  • (6:00) The Conditional Nature of Pre-Approvals
  • (6:15) The Impact of Changing Financial Situations and Property Valuations
  • (6:47) How Time-Consuming Are Pre-Approvals?
  • (7:04) Necessary Paperwork for Pre-Approvals
  • Loads more…

Links and Resources:

Australian Government – Moneysmart: Getting a Home Loan

#HomeLoans #PreApproval #FinanceTips #RealEstateAustralia #MortgageAdvice