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You can get bond loan pre-approval by applying online with any bond lender who offers a pre-approval service. A pre-approved bond loan is not a commitment – it is simply an indication by a lender that they will be willing to approve your bond loan up to a certain amount, should you eventually decide to submit an application.
Obtaining bond loan pre-approval allows you to search for rental properties knowing exactly how much money you will have access to for the bond, before committing to any property, or applying for any loan.
When looking to buy a car, property, or other large asset, the responsible thing is to seek pre-approval on your finance before shopping around. This is the same reasoning behind obtaining bond loan pre-approval.
By seeking out a pre-approved bond loan before you begin your search for a rental property, you will never find yourself wasting time getting your hopes up on a property that is out of your price range. Understanding exactly how much money you will have available can help to take the hassle out of searching, because you will always know exactly what to look for, and won’t waste time where you can’t afford.
Just because you have been granted bond loan pre-approval, doesn’t mean you have to take out a bond loan at any point. There is no commitment on your part to submit an application for a loan once you have been pre-approved, so there is no risk taken on by getting pre-approved.
Seeking pre-approval for a bond loan can be simple and fast when dealing with an online lender. Typically, you will be required to provide some personal information, such as details of your income and expenses, and exactly how much you would like to borrow. These details can all be inputted online, and a decision can usually be provided very quickly.
This means you will be on your way to securing the rental property of your dreams before you know, without any drama or stress. It couldn’t be easier!
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