How much can I spend and what will my payments be? This is where a home loan pre approval comes into play.
Buying a home can be overwhelming, especially if you don't know how much you can borrow before making your commitment to purchase your new home.
We can help you compare all home loan options and set up a home loan preapproval before you hit the open homes. This can give you confidence in knowing how much you can spend and this also allows you to negotiate a better price on your new home knowing that your loan is pre-approved and ready to go when you are.
Our Home Loan Pre-Approval process costs you nothing and commits you to nothing. We work hard for you to present you with the best home loan options on the market today that will save you money - then you get to make the final decision.
Being a Fox Home Loan client means that:
Here at Fox Home Loans, our team care about helping you understand your credit score and what it means for you. Speak with your Home Loan Lending Specialist about how we help you protect your credit score and what you can do to grow your credit rating.
A home loan pre approval is confirmation of your ability to obtain a mortgage loan without having any formal contract in place. The pre approval gives you a hard number that we can approve you for, which allows you to go out and shop around for homes.
You’ll fill out an online pre approval for a home loan and receive confirmation based on the amount you’re eligible to receive. This number is generally good for 90 days. It’s an offer but not a commitment to lend you that amount. There are a number of factors that could change your pre approval amount.
Keep in mind that a pre approval is different from a prequalification. Prequalification is the first step, which is only an estimate of how much you’ll be eligible to borrow based on rough personal finances and a credit check.
This step is more commonly used when a prospective home buyer is unsure if they’re even eligible to receive a home loan.
The best thing about a home loan pre approval through Fox Home Loans is that it doesn’t cost you a thing and it doesn’t lock you into anything. You’re free to take this pre approval and go to someone else if you feel compelled to do so.
A pre approval is necessary in the home buying process because it shows the seller of the home you’re trying to buy that you’re serious about purchasing it.
It’s proof that you’re a capable buyer. It could make the difference when it comes to negotiations if the seller is choosing between your offer and another offer.
In some cases, real estate professionals won’t even work with you until you have a home loan pre approval. They may think that you’re not ready or serious about your intention to buy and could only waste their time.
Receiving a pre approval for a home loan is a necessary step of the process and not something that you should overlook.
Getting mortgage pre approvals is easy through Fox Home Loans. All you need to do is fill out our online form with basic contact information, your credit score, and income information. We’ll work hard to crunch the numbers and see what types of mortgage loans you may be eligible for.
The best thing about getting your loan through Fox Home Loans is that we leave no stone unturned. If you’ve been turned down by the other guys, we’ll continue searching and sifting through a number of qualified lenders until we find a loan package that works for you.
We generally offer multiple choices as well which gives you the freedom to choose the home loan package that makes the most sense for you.
Home loan pre-approval is a process by which a lender reviews your financial and credit history to determine how much money they would be willing to lend you for a home purchase. Pre-approval is not a guarantee that you will receive a loan, but it does provide an indication of how much you can borrow and the terms of the loan.
To obtain pre-approval, you typically need to provide the lender with information about your income, assets, and debts, as well as your credit score. The lender will use this information to assess your creditworthiness and calculate how much they are willing to lend you.
The pre-approval process typically takes a few days to a week, depending on the lender and the complexity of your financial situation. Once you receive pre-approval, you can start shopping for homes with the confidence of knowing how much you can afford to borrow.
Enquire for Pre ApprovalA first home buyer loan is a type of home loan specifically designed for individuals who are purchasing their first home. These loans typically have features that are intended to help first-time buyers enter the property market, such as lower deposit requirements, reduced or waived fees, and government incentives.
It’s important to do your research and compare the features and costs of different loans to find the one that best suits your individual needs and financial situation. Or leave it to the experts at Fox Home Loans. We’re here to help first home buyers navigate the complex road to owning their first home.
Enquire for your First Home LoanHome loan refinance is the process of replacing an existing home loan with a new loan from a different lender or with a different loan product from the same lender. The primary purpose of refinancing a home loan is usually to obtain a better interest rate or to access different loan features or benefits.
When you refinance a home loan, you essentially pay off the existing loan with a new loan, and the terms and conditions of the new loan may differ from those of the old loan. For example, you may be able to obtain a lower interest rate, switch from a variable rate to a fixed rate or vice versa, or access features such as offset accounts or redraw facilities.
Refinance your Home LoanBefore you start the process of switching home loans, it’s important to consider why you want to make the switch. Do you want to lower your interest rate, access different loan features, or consolidate debt? Understanding your reasons for switching can help you choose the right loan product and lender.
It’s important to note that switching home loans can be a complex process, and it may be helpful to seek advice from a mortgage broker like Fox Home Loans to ensure that you are making the right decision for your individual circumstances.
Switch Home LoansAn investment property loan is a type of home loan designed specifically for individuals who are looking to purchase a property for investment purposes rather than to live in themselves. These loans are typically used to purchase a property that will be rented out, with the rental income used to help repay the loan.
It’s important to carefully consider the costs and risks associated with investing in property and to do your research to find the right investment property loan for your needs. A financial advisor or mortgage broker may be able to provide guidance and advice to help you make informed decisions about your investment strategy.
Enquire for an Investment Property LoanA renovation home loan, also known as a home renovation loan or a home improvement loan, is a type of home loan that is specifically designed for borrowers who want to renovate or improve their existing home. These loans can provide funding to cover the cost of renovations or improvements, which can be a more affordable way to upgrade a home than selling and buying a new property.
If you are considering a renovation home loan, it’s important to have a clear understanding of your renovation plans and budget, and to work with a reputable lender or mortgage broker who can help you find the right loan product for your needs.
Enquire for a Renovation Loan
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Enter some basic details in our simple online form.
Discuss your loan preferences and application information.
Your Lending Specialist will discuss all details of your pre-approval.
With our technology, you can simply sign your loan documents electronically.
Your loan funds will be processed when settlement is finalised. It's that simple!
Enter some basic details in our simple online form.
Discuss your loan preferences and application information.
Your Lending Specialist will discuss all details of your pre-approval.
With our technology, you can simply sign your loan documents electronically.
Your loan funds will be processed when settlement is finalised. It's that simple!
Enter some basic details in our simple online form.
Discuss your loan preferences and application information.
Your Lending Specialist will discuss all details of your pre-approval.
With our technology, you can simply sign your loan documents electronically.
Your loan funds will be processed when settlement is finalised. It's that simple!
as a Financial Services Group helping customers Australia wide
of processed applications for everyday Australians and SME businesses
customers provided with genuine, efficient service
Also known as a conditional approval, a home loan pre-approval is when a lender agrees in principle to lend you the money to purchase your new home – but hasn’t fully approved the loan yet. Borrowers often look for a home loan pre-approval to have a budget in mind of what they’ll be able to borrow for a new home.
Home loan pre-approvals is what we do for our customers – all day, every day. In some cases, we can have your home loan pre-approved the same day, so you can go house hunting with peace of mind. We know that buying a home can be stressful – so let’s make it a great experience for you – call our Home Loan Experts on 1300 665 906 for an obligation free preapproval.
Your home loan preapproval amount will depend on several factors. Lenders will want your mortgage repayments to be no more than 30 percent of your gross monthly income, and your monthly debt repayments (e.g. credit cards, store cards, car finance) being no more than 35 percent of your gross monthly income. Lenders will also want to see that you have saved funds for a home loan deposit when assessing your preapproval. Talk to our Home Loan Specialists and book in for a free servicing calculation to see how much you could get preapproved for. Call us on 1300 665 906 or apply now – its obligation free.
Our initial home loan enquiry form takes about 1 minute to complete.
Next, our Home Lending Specialists will connect with you within 1-2 hours of submitting your obligation-free online enquiry (Monday to Friday).
Once we receive your supporting documents, your dedicated Home Lending Specialist will submit your loan application to the best home loan financier for pre-approval, which can be confirmed in as little as 2 hours. However this can be dependent on several factors:
Ensuring all required information is supplied the lender on application
Dealing with a lender’s turnaround time (lead time)
The responsiveness of the applicant to answers the lender’s questions (if any)
The applicant’s credit history and banking conduct will also determine how fast a pre-approval is confirmed.
Home loan preapprovals typically last from 60-90 days, but this can vary from lender to lender. Your Home Loan Specialist will advise you on the full process, simply call us on 1300 665 906 to find out more – or apply now to fast track your enquiry.
This depends on your deposit, the amount you’re borrowing, and several other factors. Our Lending Specialists can let you know if you qualify for a product without, or if it’s something you’ll require to proceed.
