FAQs

Q?

How can a mortgage broker service be free?

A.

The lender pays the broker fees or commissions for your business. Just as if you were dealing with a bank manager or lender, these fees do not change the interest rate you pay on a home loan.

Q?

I have A VEDA Default, can I still get a home loan?

A.

Depending on the time of default and how old along with the amount YES we may still be able to assist you in getting into your dream home.

Q?

How long do loan approvals take?

A.

The loan approval process depends on the borrower, the lender and the type of loan. The average loan can usually be pre-approved in 2-3 days after we receive your completed full application and supporting information.

Q?

Can My Parents help me in getting a home loan?

A.

Using the equity in a family members existing property can help you buy a home sooner –your family member offers their property as security for part of your home loan, usually around 20%.

Q?

Should I get pre-approval before making offers on property?

A.

Yes, it makes more sense to know that you can get approval up to that loan amount and gives you shopping confidence.

Q?

What Is An LVR?

A.

LVR is the loan to value ratio. If you wished to buy a house for $400,000 and only had $40,000 as the deposit this would make your loan a 90% LVR, which would be a loan amount of $ 360,000.