When you’re a first time home buyer, we’re on your side. Every time. Sphere Home Loans.
Thinking about that first home?
Entering the property market is becoming harder, but our team walks you through the process to find ways to remove obstacles.
The Sphere Home Loans team:
uses its extensive experience to discover whether you’ve been waiting too long to buy for the first time
discovers opportunities to reduce your overall cost
finds lenders who consider rent as “genuine savings” and acknowledge “Day 1 income”.
Have you been saving too much for your deposit when there are reputable lenders ready for you, but you don’t even know it?
Have you investigated parental guarantees to avoid Mortgage Lenders Insurance?
The Home Loan Process
There are 2 phases in our process
Phase 1: Prior to submitting your application
Phase 2: Application submitted
Phase 1: Prior to submitting your application
First Contact - Initial discussion to understand what you’re looking to achieve.
Online Application - Capture personal details, requirements & objectives along with supporting documents.
Options Researched - Review/preparation of lender options based on previous steps.
Present Lender Options - Present and discuss lender options and make a decision on your preferred Lender.
Prepare Application - Preparation of your Application, Lender Pages & Compliance Documents.
Credit Proposal & Lender Forms Signed - Credit Proposal (outlining loan structure) and lender pages will be sent to you for signing.
Application Submitted - Application submitted to the Lender once signed lenders pages are returned.
Phase 2: Application submitted
Conditional Approval: The bank assesses your application and provides you with a Conditional Approval for loans without property. We inform you of your Conditional Approval and advises you of any additional requirements requested by the lender.
Note: your preferred lender may request additional documentation from you at this stage.
Unconditional Approval: Once you have found a property we organise a lenders valuation and inform you when the valuation has been completed. Sphere Home Loans then organises your formal/unconditional approval once all settlement conditions have been met. The lender issues your formal approval and we inform you of your Formal Approval.
Loan Documents: Mortgage documents are issued by the lender and we arrange to have them sent to you electronically or via mail (depending on the lender) or organises to meet with you to offer sign up assistance. Sphere Home Loans works with you to have the signed documents checked and returned to the lender for settlement preparation.
Loan Settlement: We work with your solicitor to ensure that settlement occurs smoothly and without delay.
It's never too early to speak to a broker
After finding the right lender, our team of mortgage brokers will walk you through the:
conditional approval process
unconditional approval process
After you move into your home, we don’t stop working for you. We review our clients’ mortgages yearly to find savings.
What you can bring when we chat:
recent payslips, bank statements and group certificates
details regarding current assets and liabilities (such as credit card debt, personal and car loans and investments).
It's never too early to speak to a broker.
It’s free to talk to our expert mortgage brokers. Call us now.
The Sphere Home Loans team helps you:
