Loan Process

Understanding the Loan Process

Getting you into the home of your dreams requires finding the right lender and choosing the perfect loan product for your unique financial situation.

Contour Finance walk you through the entire procedure from start to finish to make navigating the loan process and negotiating the best deal simple and straight-forward.

Setting realistic goals.

We offer all clients a free No Obligation “Finance Health Check” to start you moving towards reaching your financial goals. Appointments can be scheduled over the phone, at our office in North Sydney or at your home or office.

The purpose of our first meeting is to formulate a picture of your overall finances and to establish your needs and objectives, as well as determining which key features are important to you in a mortgage loan.

Gathering your paperwork.

Once your goals are established we need to review your documents and check your borrowing eligibility. At this stage we are not yet submitting your information to potential lenders but simply researching potential options.

All analysis is done in house and is 100% confidential.

Perusing loan options.

You will be presented with several lending alternatives suitable for your needs and objectives.

Together we will go through the options and explain the key features of each loan so you can make an informed direct comparison. We will assist you in singling out the best loan for your situation but of course the final choice is up to you.

Obtaining pre-approval.

Once you’ve decided on a loan structure and lender, we’ll guide you through the application process and submit an application on your behalf.

If your assessment comes back positive you will be given conditional approval sent in writing by the bank or financial institution.

In the event you are not approved we will re-assess and help you apply for an alternate loan.

Making your loan official.

Conditional approval requires your lender to complete a full valuation of the home you wish to purchase or build.

Once you have found the perfect property and all loan conditions are met, your lender will issue final approval of your mortgage.

Signing on the dotted line.

After formal approval is received your loan documents will arrive to be signed.

We will answer any questions you have in relation to the mortgage document signing and guide you through the process.

Loan Distribution.

At the closing of your purchase funds will be distributed from your lender via escrow. Generally your first payment is due approximately one month following the closing date.

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