How To Apply

When you’re ready to buy your own home, Mortgageport is here to help you. We’ll walk you through the whole process, step-by-step.

As your personal mortgage broker, we specialise in demystifying the process and offering advice and support well beyond the establishment phase of getting your loan.

Getting started – how do I apply for a loan?

The first step is easy – we meet with you to find out what you want to buy, how much you can borrow, what you can afford, what your circumstances are and basically, just get to know you. As everyone’s different, this enables us to help you choose the right loan from the many hundreds on offer.

To make an appointment with one of our mortgage consultants, phone 02 9466 8200 or email us at info@mortgageport.com.au. We can meet you in your home, workplace or somewhere else convenient, or you can come into our Milsons Point offices. There is no charge for this meeting, nor for any part of Mortgageport’s loan arranging service. Because the lenders pay us, our mortgage broking service is provided free of charge – you pay nothing.

What happens during the appointment?

We will take the time to understand your plans and your situation, During the meeting we will:

Use our MATCH selection system to identify the most appropriate loans for you. Different loans have different features to suit different needs – we narrow the choice down to what we believe to be the best two or three for your purposes, with the ultimate choice of loan being yours.
We will calculate your exact borrowings and repayments and explain all loan establishment fees and other costs of buying a home.
We will also show you ways of saving money and interest on your loan by doing things like making additional repayments.
And naturally, we’ll answer any questions you may have.

Once we have helped you choose the right loan, together we will then complete the application form. At this point, you will need to provide some supporting documentation.

What documentation do you need?

Basically, the documentation you’re required to provide helps satisfy the lender you have sufficient income and assets to afford and maintain a loan.

Your mortgage consultant will inform you of exactly what documents you’ll need. This will vary depending on the lender and type of loan you are applying for, and what your employment status is, for example if you are salaried, self-employed or applying for a low-doc loan. Generally speaking and depending on the loan, the documentation you will be required to lodge can include:

Most recent group certificate
Current payslips
Written confirmation of your employment details
Current statements detailing any government benefits such as pensions, allowances or entitlements
Copy of personal tax returns and tax assessment notices
Business tax returns
Business financial statements (profit and loss statements)
Trust deeds
Rental statements or lease agreements
Company constitution
100-point identification check, such as driver’s licence, bank account details, Medicare card
Copy of purchase/sales contract
Savings history
First Home Owner Grant application (if applicable)
Signed low doc declaration (if applicable)

For more information on documentation required, visit our documentation checklist at http://www.mortgageport.com.au/www/downloads/mor_checklist.pdf

Between loan application lodgement and settlement

Between loan application and settlement, at which point you become a home owner, there are several important steps your mortgage consultant will lead you through. The process goes like this:

Assessment	Our credit team assesses, completes and submits your loan application.
Valuation	A valuation of your property is ordered (assuming you have already chosen a property). Remember, we are happy to arrange loan pre-approval to eligible home buyers still house hunting.
Approval	Once the loan is approved, we organise for a formal letter of approval to be sent from the lender to you.
Exchange contracts	Now you are approved, you can pay your deposit and exchange contracts on the property you want to buy.
Documentation	Loan agreements and mortgage documents are sent to you by the lender for you to sign and return. These documents are checked and then Mortgageport prepares your loan for settlement (the final, full payment).
Settlement	Settlement occurs, full payment is made, and the property is transferred into your name.
Congratulations, it’s now time to celebrate – you have just bought a home!

Remember, your own mortgage consultant is there to help you every step of the way. If you have any questions about how your loan is proceeding or where things are up to, just call. We’re here to help.