The Loan Process

At Smartline Rockingham, we want you to know what to expect at every step of the loan process. Consequently, we have set out a simple, straightforward “road map” to approval.

Loan Appointment
Complete Loan Application
Approval
Loan Offer
Documents for Your Mortgage
Loan Settlement

Step 1: Appointment for Your Home Loan

The home loan appointment is where you meet with your Smartline Rockingham mortgage broker. Your broker will help you sort through the options to find the right home loan for your needs, explain the details of the loan to you in an easy to understand language and then help you fill out the application form for your home loan.

Step 2: Process and Complete Home Loan Application

Your home loan adviser will then package your home loan application professionally and prepare it for submission to the lender. This process often happens electronically.

Step 3: Approval of Your Home Loan

In most cases, due to the quality of research and “homework” we do, the next step is to be informed that you have been approved for your home loan. Your Smartline Rockingham mortgage broker will notify you of approval immediately after receiving notice. At this point, it is time for you to arrange your building insurance because you must have building insurance as a condition for settlement.

Step 4: Your Official Home Loan Offer

The lender then sends you a home loan offer. This is a document that serves as a contract and must be signed and returned. It contains all of the pertinent information about the loan, such as the term, the interest rate, applicable fees and general terms and conditions.

We always encourage the borrower to call us with any questions or concerns about the home loan offer. In fact we love you to sign the paperwork with you so we can answer any questions and to make sure everything is completed in full. We are also happy to go through settlement agent paperwork.

Step 5: Documents for Your Mortgage

You will receive your mortgage documents from the lender; once again you can come to us and we can sign them together. We can also witness most documents. These documents include the document giving the lender a security position over your property and the general terms and conditions of the loan.

Step 6: Your Loan Settlement

Your lender and your conveyancer will arrange for your home loan settlement to be finalised. The money will be transferred from the lender to the seller and the property ownership will be transferred into your name.

For More Information, talk to a Smartline Rockingham Loan Adviser.