Browse Forums Building A New House 1 Jul 12, 2014 7:46 am Hi! Would it be alright to apply for a pre approval from 2 banks at the same time? We had experience with one bank before that devalued our land by 20k which meant a bigger LMI for us. We can always cancel if one would cost us more than the other right? Re: Quick question about bank pre aproval 2Jul 12, 2014 9:04 am splash-back78 Hi! Would it be alright to apply for a pre approval from 2 banks at the same time? We had experience with one bank before that devalued our land by 20k which meant a bigger LMI for us. We can always cancel if one would cost us more than the other right? You can get pre approvals from as many banks as you wish. It will become an issue once the bank takes its security interest over the property but that will happen post funding. BLOG: http://www.ourphoenix38.blogspot.com.au H1 THREAD: viewtopic.php?f=31&t=70454 Re: Quick question about bank pre aproval 3Jul 12, 2014 10:19 am you might wanna take to a mortgage broker.. a friend of mine used one and he manged to get significantly more and lower interest rate .. might be worth a look Re: Quick question about bank pre aproval 4Jul 12, 2014 10:29 am Johnno1224 you might wanna take to a mortgage broker.. a friend of mine used one and he manged to get significantly more and lower interest rate .. might be worth a look Yes - shop around. Its amazing what you can/might get - just by asking ! Your bank of a lifetime may not be the best. Re: Quick question about bank pre aproval 5Jul 13, 2014 12:50 am Can certainly do two, just be wary about apply to lots of different banks as each inquiry will show up on your credit report. So when you do go to apply if there's lots of inquiries that may raise some eyebrows. +1 to chatting with a broker. Mine has been fantastic with not just my mortgage but other great advice and suggestions as well. They can also look across a wide variety of lenders and know what strings to pull and which buttons to push to get discounted rates if possible. 1. Roof cleaning and paint - which colour do you recommend? I often see black/ dark grey in use these days but I would prefer… 0 5226 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 9178 We've had the offer of a short term tenant whilst waiting for CDC/DA home approval and demolition for our knock down rebuild. It would achieve a pretty low rent as it's… 0 9926 |