When looking to purchase a home, it helps to know your price range and the price you can afford all depends on the loan amount you will be approved for. When you begin your home search with your Lending Manager at New Start Home Finance, you can first learn how much money you will be able to borrow. Then, you can begin your property search with a clear figure in mind. It will not only help you narrow down your search, you’ll know how much room you have to negotiate.

A loan pre-approval will make your offer more attractive to a buyer and will give you a leg up in negotiations. Most approvals are good for three months. There are some terms you will need to meet first, such as:

• Guidelines for a suitable property
• Receipt of a registered valuation
• Approval for mortgage insurance (if required)

Before you start hunting down your next property, consult with a Lending Manager at New Start Home Finance to get an approval. You’ll be ahead of the game if you do.