Home Loan Process

(Time Frame)

Normally there are eight steps involved in the loan process; the approximate time frame is 15 to 35 days. It may vary depending on the lender of your choice.

1. Interview with customer (Day 1) : At the time of the interview we will discuss all your Home Loan or Investment loan needs, taking into consideration the financial needs you disclose to us and we can find an appropriate lender and products that suits your circumstances. Obviously we aim to obtain a product which contains the features you require and the Best Home loan interest rate possible for that product and your lenders which you are likely to be elligible for.

2. Submission of Competed Loan Application (Day 1-3) : We will submit your completed loan application along with all your supporting documents within 24 hours and we may able to get the confirmation from the lender in 48 hours.

3. Indicative Loan Approval (Day 3-6) : Most of the financial institutions will give the condition loan approval in 24 to 48 hours from receipt of a completed Loan application. If you find the property, the bank may issue a property valuation request at this time.

4. Property Valuation (Day 3-10) : Valuation of the property may take 2 to 4 Days depending on the property access.

5. Full Unconditional Loan Approval (Day 5-14) : We will receive a full unconditional loan approval letter from the lender on your behalf after the satisfactory valuation of the property and necessary check of your employment and financial position and credit check. At this time we will help you to fill and submit First Home Owners Grant (FHOG) application and make sure that the money is available for the property settlement if you are eligible for it.

6. Issue of Mortgage Documents (Day 8 - 21) : In normal circumstances, the lender will send a copy of the mortgage documents to you within 5 days time after full unconditional loan approval. You are required to sign the documents and return to the lender for further processing.

7. Settlement of the Loan (Day 22-30)
Purchasing Property :
After sending the mortgage document the lender will certify the file and inform your solicitor that it is now ready for settlement, your solicitor/conveyance will contact the lender to book the settlement.
Refinancing : When the lender will receive the signed loan documents, they will send the discharge authority to your existing lender and will liaise directly with your existing lender to arrange for property refinance.

8. Congratulations (Day 31) : Your property purchase or refinancing process has been completed and your loan is in place.

Note:  The Finance Group Parramatta in conjunction with a couple of our select lenders have been able to obtain unconditional home loan approval within 5 Business days from time of Sucessfull Interview with Client.  This can only happen is customer is completely organised and most often happens when client emails us a complete set of supporting documentation in PDF format and submits an online enquiry prior to the appointment.  So please help us help you secure your dream property or quick refinance and get yourself prepared and book an appointment with us ahead of time, so we can come and see you within hours of receiving all of your information.   Feel free to contact Jason on 0407900113 24 hours a day for urgent matter, or SMS me if I don't answer straight away.  Our Goal is to help

Related Document

These documents will help you learn more about The Finance Group Parramatta, or will assist you in applying for your perfect loan

6 Steps Buyer's ChecklistHome Inspection ChecklistHome Loan Process Check ListFinance Broking Agreement