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FAQs

How does my credit affect my ability to qualify for a mortgage or get approved for a mortgage?

When you apply for a mortgage, the lender will evaluate your credit history, to see how you have managed credit in the past.  Your credit report is used to determine how likely you are to keep up with payments in the future.  By predicting how well you will manage your debt, the mortgage lending company can measure the risk involved with lending you money.

Everything else being equal,…

How long will my preapproval last ?

Depending on the lender, pre-approval is valid for different lengths of time, usually ranging from three (3) months through to twelve (12) months. It is always best to ask the proposed lender how long the pre-approval will last, as there may be fees involved in getting that period extended. 

Speak with a Sydney Finance Broker from Navado Mortgage Brokers to find out whether your loan suits…

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