The process for obtaining a home loan can be basically broken down into the following steps:
- Enquiry: Contact your UFSWA broker by calling (08) 6252 7600 or enquire online.
- The Loan Discussion: The most important part of the process is to find out what your needs and objectives are! We will collect a number of documents from you to verify your identity, personal, employment and financial position (as required by law) form which we can begin analysing borrowing options for you.
- Lender and product selection: We will conduct a preliminary credit assessment which outlines your borrowing options. From this a lender and product is selected and the application is prepared and lodged with the lender.
- Conditional approval: The lender will assess the application and stipulate any conditions that need to be met. Your broker will convey these to you and any action required (if any) on your part.
- Formal approval: Upon formal approval, your loan is now unconditionally approved! All necessary parties will be advised by your broker such as the real estate agent, settlement agent etc.
- Loan documents are issued: The loan documents will be prepared by the lender and issued to you via the post or through your broker. Your broker will assist you with completing these and they are then returned to the bank to prepare for settlement.
- Settlement: We are always happy to assist you throughout the entire loan process in any way we can. If you are ever in doubt as to what the progress of your loan is then you can always call us for an update.
Disclaimer: Loans are approved or declined on their merits by the specific lender and a loan approval is not guaranteed. We believe the information on this page to be correct. However we can give no warranty to this effect and expressly disclaim any liability for loss or damage by any person acting upon the information provided herein.