BENDIGO HOME LOAN PROCESS
From Consultation to Settlement
Our Process
At Looped Group, we believe in making the home loan process as smooth and stress-free as possible. Whether you're a first-home buyer, refinancing, or investing, our expert team will guide you every step of the way.
Here’s what you can expect from your journey with us…
STEP ONE
Free Consultation
Your journey starts with a no-obligation consultation where we get to know you—your financial goals, current situation, and what you're looking for in a home loan. We’ll discuss loan options, government incentives (if applicable), and answer any questions you have.
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STEP TWO
Understanding Your Borrowing Power
We assess your income, expenses, assets, and liabilities to determine how much you can borrow. This helps set realistic expectations and ensures you’re looking at properties within your budget.
💡 Tip - It’s always a good idea to check your credit score before applying, as this can impact loan approvals.
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STEP THREE
Finding the Right Loan for You
We compare loan products from a range of lenders, looking at interest rates, repayment structures, features (like offset accounts), and fees. Our goal is to find the best solution that aligns with your financial needs and future goals.
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STEP FOUR
Securing a Loan Pre-Approval
Once we’ve identified the right loan, we’ll submit your application for pre-approval. This gives you confidence when making an offer on a property, as it confirms how much you can borrow.
⏳ Processing Time - Pre-approvals typically take a few days to a couple of weeks, depending on the lender.
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STEP FIVE
Finding Your Property & Making an Offer
With pre-approval in place, you can start house hunting with confidence. When you find the perfect property, you’ll make an offer and sign a Contract of Sale, which may include conditions such as “subject to finance” or “subject to sale”.
📑 Insight - The lender will conduct a property valuation to ensure it aligns with your loan amount. This is one of the final steps before full approval.
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STEP SIX
Loan Approval & Documentation
Once the lender is satisfied with all checks, they will issue formal loan approval. At this stage, you’ll sign your loan documents, confirming the loan details and repayment terms.
✍️ You’ll Need To -
Review and sign loan contracts
Provide any remaining required documents
Arrange home insurance (often required before settlement)
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STEP SEVEN
Settlement!
Congratulations! On settlement day, your lender will transfer the funds to the seller, and you’ll officially take ownership of your new property. Your conveyancer or solicitor will manage this process, ensuring everything is in order.
🔑 Move In & Celebrate! - Once settlement is complete, you’ll receive the keys to your new home. Time to pop the champagne!
BONUS STEP
Ongoing Support
💬 We’re Still Here for You - Our relationship doesn’t end at settlement! We’re here to help with refinancing, loan health checks, and future property investment plans. If you ever have questions about your mortgage, we’re just a call away.
