Stages of the Home Loan Process Whether you are buying, building, renovating, investing or refinancing, Blueprint Wealth is here to help guide you through the home loan process, from application through to settlement. There are several stages to the home loan process. You can use this guide to help you follow the process and what you might expect along the way. There may be small differences in the process, depending on whether you are buying a new home or refinancing an existing loan. Step 1: Information gathering and preparation The key to a smooth approval process is preparation – it is important to give some prior thought to your individual circumstances, such as: Your finances and commitments How much you have saved for a deposit Loan features that appeal to you. e.g. flexibility, access Your current and future lifestyle requirements, e.g. do you plan to change jobs in the future, take a holiday, etc. Step 2: Meet with a Blueprint Wealth Mortgage Finance Broker A Mortgage Finance Broker will meet with you to discuss your home or investment loan requirements and objectives, including: Purpose for the loan Loan types, features, costs and risks Your ability to make loan repayments. We will review a range of factors including income, expenses and liabilities as well as any foreseeable changes to your financial circumstances Your future needs The information and documentation you will need to provide Step 3: Application This is where you (together with your Blueprint Wealth Mortgage Finance Broker) will complete, sign and date the home loan application form and submit all of the necessary supporting documents for approval. Step 4: Approvals Once the application and supporting documents have been submitted, the bank will verify the information provided. They will also confirm any conditions on the loan, and, if necessary, undertake a valuation on the property. Your Blueprint Wealth Mortgage Finance Broker will advise of any additional information required – such as from your settlement agent or other financial institutions. When the loan is formally approved, your Blueprint Wealth Mortgage Finance Broker will contact you. Step 5: Documentation This is when the home loan contract is issued. At this stage, we will review the home loan documentation together with you in detail before you sign. Step 6: Settlement Once the requirements of the loan approval have been met, the loan funds will become available to you. We will work with you to make the necessary arrangements for settlement. Post-settlement Review After the loan has settled, we will help you to finalise any post-settlement details, such as the set-up of internet banking and offset accounts. We will continue to provide you with regular newsletter updates and marketplace information to ensure you are kept informed of industry changes and to confirm you are still in the right financing solution for your current financial and lifestyle situation. Contact us for a free consultation with one of our Mortgage Finance Brokers to see how we can help. We will work with you to understand your financial situation and will consider the financing as part of your overall financial plan.