Do I have my finance pre-approved

Finance is the leveraging tool to help you get into the property, and property will be the vehicle that will create your long-term wealth.

So it is important to have a finance strategy part of which is a finance pre-approval.

This means that a lender has agreed, in principle and in writing, to lend you an amount of money towards the purchase of your property, but this will still be subject to certain conditions including the exact property that you will be planning to buy.

Obviously, it's vital that you have your finance pre-approved before starting your property search so that you understand your budget and you are able to take prompt action if and when you find the right property.


Some of the advantages of a loan pre-approval for property investors are:

You'll know exactly how much you can spend

You’ll be able to make a firm offer on a property

You know what your repayments will be and therefore your cash flow

Your final loan will be organised faster

There's no cost to you

Be wary of any website that offers you a pre-approved home loan without taking the time to assess your financial situation.

It should go without saying that unless a lender has fully assessed and approved your financials, any ‘approval’ you get may not accurately reflect what you can actually borrow.

RealRenta has all the tools that a property manager has but for less than ¼ the cost of a property manager.

Join now and the cost is less than a cup of coffee a week to manage your rental property

RealRenta also has a free vision, so why not check it out

Jason Gwerder
Wednesday, 1 June 2022

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