Easy Application Process with Fast Approvals MyRate has 5 easy steps to getting your home loan and offers one of the fastest processing timeframes available. | | 1. Loan Pre-Approval | 2. Approval Subject to Valuation | 3. Written Unconditional Approval | 4. Loan Contracts Drawdown | 5. Loan Settlement | | | This is simply an estimation of your borrowing capacity | You can now go property shopping with confidence | Valuation verified and formal approval letter issued | Solicitor has been instructed and your contracts are ready for you to sign | You are now the proud owner of your new property | | MyRate | Instant enquire now | 24 Hours following full application submission | 96 Hours following conditional approval | 48 Hours following formal approval | Varies depending upon your purchase contract | | Other lenders | ? | ? | ? | ? | ? | | Mortgage Brokers | Subject to lender timetables | Subject to lender timetables | Subject to lender timetables | Subject to lender timetables | Subject to lender timetables | Please note that timeframes are subject to you providing all the relevant paperwork and providing access to the property for valuation. Tip: If your loan is approved subject to valuation, this approval will last you 3 months. However, if more than 30 days has passed since your approval, you will need to supply us with : - Up to date pay slips.
- Up to date savings/credit card/loan statements.
- Your updated assets/liabilities list to confirm nothing has changed since pre-approval.
| | 5-Day Formal Approval Guarantee Our loan process is fast, simple and convenient. Unlike other lenders, once you submit all your paperwork, we guarantee to provide you with a Formal Approval decision within just 5 business days. If it takes more than 5 business days we will deposit $100 into your loan at settlement. Some terms and conditions apply and your loan consultant can explain more.
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