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Pre Approved Loans
A Pre Approved loan is exactly as it is stated. It is completed like a formal loan with all the proof of income, deposit etc but allows your local Refund Home Loans Representative the chance to see how it all comes together.
While the general public may see most Home Loans as being similar there is a large variance in the policy requirement of each. For example different ways to assess allowable income, net and gross, family assist, overtime, contract payments, rental income, depreciation etc can all give a different result to your application.
Even on deposits, some lenders see this as only cash in the bank where others will accept repayments of loans, assets in other investments, family loans etc as proof of savings. Knowing your exact position on these factors enables your local Refund Home Loans Representative the ability to help you choose the most suitable loan to suit your needs.
