There are two benefits to this – you will know what your budget for a property is, and you will be able to show the seller or estate agent that you are a serious buyer and can afford the property.

To get bond pre-approval, your disposable income should exceed 30% of your gross monthly income.

Getting a pre-approval home loan means you won’t risk putting in an offer on a property you can’t afford. Take this step before you go house hunting, or else you risk disappointment.

When you qualify for a pre-approved home loan, you’ll get a certificate: stating information pertaining to the pre-qualified loan, like: the bond amount, the interest rate and the instalment amount. Take this with you when you put in an Offer to Purchase.

A pre-approved home loan – and a certificate to prove you have bond pre-approval – shows the estate agent and the seller that you mean business.

Check your bond and home loan pre-approval in a few easy steps.