Home loan pre-approval (or conditional approval) means that a lender has agreed, in principle, to lend you money towards the purchase of your home but hasn’t proceeded to full or final approval.

A pre-approved home loan serves as a valuable instrument for prospective homebuyers, as it provides insight into the affordable amount for purchasing a property and allows you to look with confidence.

Owning a house comes with its own set of financial considerations, one of which is whether or not to refinance your mortgage. Refinancing may appear scary at first, but it may provide many benefits for homeowners trying to better manage their changing financial situation. These benefits include: lowering interest rates, changing loan terms, switching loan types, and accessing home equity.

It is important to consider the costs of refinancing when making your decision. Typical costs involve a mortgage discharge fee, new lender set up fee and settlement fees.

Buying a home is a big step in anyone’s life. A mortgage broker can act as a guide, there to support you every step of the way.

There is a lot to understand including different rates, product features, loan terms, etc. This is where a mortgage broker can be a really helpful resource on your team.

Paying off your mortgage early comes with a host of benefits, both financial and emotional.

Here are 5 ways to help you:

1. Make bi-weekly payments
2. Make lump sum payments
3. Refinance to a shorter-term
4. Make extra repayments
5. Cut unnecessary expenditure