Home loan process

Smartline aims to make the home loan approval process as easy and straightforward as possible so you know what to expect each step of the way.

• Loan appointment
• Loan application
• Loan approval
• Loan offer
• Mortgage documents
• Loan settlement

Step 1: Home loan appointment

At your home loan appointment your Smartline Mortgage Broker will help you select a home loan that is right for you, explain all the details of your chosen loan and help you complete the loan application form.

Step 2: Home loan application

Your adviser will professionally package your home loan application with the supporting evidence and then lodge it with your chosen lender – often electronically.

The lender will assess your application, let us know if more information is required, perform credit checks and, if necessary, arrange a valuation of your property and organise mortgage insurance.

Step 3: Home loan approval

Your lender should then be in a position to advise your Smartline Mortgage Broker that your loan has been unconditionally approved. Your adviser will let you know immediately. At this stage you should to organise your building insurance, which will be needed for settlement.

Step 4: Home loan offer

Your lender will send you a loan offer for you to sign and return. The home loan offer is your loan contract and outlines the terms and conditions of the home loan, including the interest rate, term and the range of possible fees.

If you have any questions about any of the documents, please just give us a call and we will help you.

Step 5: Mortgage documents

Your lender will send you or your conveyancer your mortgage documents to be signed and returned. These documents include the lender’s standard terms and conditions as well as the legal document giving the lender security over the property.

Step 6: Home loan settlement

Your lender will liaise with your conveyancer to arrange for settlement to take place. The home loan will be ‘drawn down’ and the property will transfer into your ownership. Congratulations!

As always, talk to your Smartline Personal Mortgage Adviser for more information.

 

• More home loan guide
• Get smart mortgage advice.
• Use our mortgage calculators now.
• Find out why our clients use us to find their home loan.
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