05 Jan 5 Steps To Buying Your Home


There it is. Your dream home. You have finally found it and now, you’ve decided to take out a loan to purchase the property. However, you are not sure about what to do next.

The Good News

Once you choose your dream home, next move doesn’t have to be complicated. All it takes to complete your home loan application are five easy steps, which we gladly listed for you here. This procedure is pretty much the same for every lender in Australia except for the time frame of the loan approvals, which will depend on the complexity of the loan product you are applying for.

Submission of application

You will submit the loan application, along with the required supporting documents and information to your loan broker. Afterwards, the broker will forward the application to your chosen lender. You know that you have completed the first step when the lender notifies you that the application was received and is now under approval.


Your lender will evaluate the application, do a credit check, and validate the authenticity of all information you submitted. After the assessment passed the specific guidelines set by the lender, you will receive a conditional approval from the lender through your mortgage broker. The broker will inform you of any additional information or documents required by the lender.

For instances when the lender makes any queries about your home loan application, you and your mortgage broker will need to attend to it by going to the lender’s office.

Property valuation

A third party company will perform a valuation of your property on your lender’s behalf. It will then forward a comprehensive inspection report to the lender for review. If the report is deemed satisfactory by the lender, the release of an “unconditional” approval will commence.

However, if the lender finds any concerns on the inspection report, your broker will be contacted to discuss the issue. Subsequently, the broker will meet you to resolve the problem with your property.

Approval for Lender’s Mortgage Insurance (LMI)

Some home loans require an LMI. If the lender says that yours need one, an approval will be requested from the LMI provider. When approved, the home loan will be granted an unconditional approval and the lender will prepare all the documents for the loan.

Signing of Forms

Once the unconditional approval is issued, the lender will send you the loan documents for signing. The broker will explain these documents and help you understand the content before you sign them. You will need to send them back to the lender after signing.

The lender will check the completeness of the documents and verify the signatures. When everything is verified correctly, the lender will then prepare the settlement of the home loan money.

Moving Forward

Now you are aware of these steps, you can confidently move forward with your home loan application. At Finance Ezi, we guarantee to assist you in every step of the way to finally get your dream home.

Apply online now or call us now on 1300 003 003 and let our specialist mortgage broker assist you with your application.

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