When buying a property, don't always bank on the banks making it easy
Clearing some of the obstacles the banks put up can cause many an unwary property buyer to stumble but there are ways to crawl through the loan process without getting hurt.
Tackling the loan pre-approval process may feel like a boot camp drill but there are tactics to navigate the system without getting overwhelmed. (Image source: Shutterstock.com)
Many buyers naively expect that a pre-approved loan automatically signals a guarantee of bank funding when it comes to making a new property purchase.
There are, however, almost always conditions associated with a lender’s pre-approval.
For those buyers who provide documentation for full credit assessment, even their pre-approvals are likely to be constrained by some important conditions.
A close perusal of the pre-approval letter will likely …
