Pre-Qualified Home Loan Approval

Pre-Qualified Home Loan Approval - How does it work?

Prequalification will provide you with your credit score, along with a solid idea of what you can afford. Over 90% of home loan applications with a prequalification certificate are approved.

You can get prequalified by using online tools, or by contacting a bond originator / your bank for assistance

What is a prequalification?

Getting prequalified for a home loan means you know your credit score, and what you can realistically afford in home loan repayments every month. It's not a guarantee of a home loan, but it's a very good indicator of what size home loan the bank will grant you. This also means that when you set off house-hunting, you are shopping in the right price-bracket for your affordability.

Getting bond prequalification: What are the benefits?

You'll know what you can realistically afford, so you can start house hunting with the right price bracket in mind.

You'll know your credit score. Ideally your credit score should be above 600 in order to have your home loan application approved by the bank (670+ is considered an excellent credit score). If you have a low credit score, you should look at ways to improve it, such as by paying your accounts in full and on time, clearing your credit card debt, and closing accounts once you've paid the balance owed.

As a qualified buyer, you make your offer to the seller that much stronger by demonstrating that you have done your homework on how much you can afford to pay.

Over 90% of home loan applications with a prequalification certificate are approved.

How do I get prequalified?

The DIY Option Online

The first one is a DIY, online prequalification using the free, online tool; click here to go to the online tool now.

You register online, your credit score is checked, you input your income and expenses; and within a matter of minutes, you know what you can afford. You are issued with a prequalification certificate, and you're good to start shopping.

Working With a Home Loan Specialist

In-depth prequalification, with the help of a home loan expert, means working closely with a home loan specialist. They'll examine your income and expenses, and of course your credit score, like a bank would, and issue you with a Qualified Buyer's Certificate. Our Home Loan Specialist is ready to assist you today, contact Avia on email here 

You are now ready to start shopping for your home! 

Remember your pre-qualification is only valid for 90 days! Make sure you do not apply for loans, or fall behind on any credit agreements during this time, as it may affect your final application.

Contact our Team to assist you with finding the perfect home.

The Last Step - Applying for a home loan

Once you've found a home that matches your price bracket, and you've made the offer to purchase, it's time to put your prequalification certificate to good use and apply for a home loan.

Making your home loan process & finding the perfect home for you, the best experience of your life!