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Step 5 - Get approval. |
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Having found a greatdeal, with Discover Home Loans it's time to apply for a home loan, meet with your consultant and get approval. Make sure you have all the necessary documents ready for your consultant.
It is likely you will be issued with either a 'conditional home-loan approval'' or a 'pre-approval certificate'. This means that, subject to a few conditions, your home loan either has been, or will be, approved when you find the property you want to purchase. One of the main conditions is often a valuation of the property to ensure a buyer isn't paying too much for a property loan approvals don't last forever. They typically are valid for around 3 months.. If you find your pre-approval has expired or is about to, contact Discover Home Loans and see if it can be extended or if you have to re-apply.
