The Home Loan Process Explained

February 21, 2019

Your 8 step guide.

1. Initial Meeting

At your initial meeting with a Goodwin Home Loans broker, we will find out your property goals and what you are trying to achieve for the now, medium and long term.

2. Loan Options

Once we have defined your goals, a Goodwin Home Loans broker will define the best home loan options for you. Loan options will be provided in a detailed summary plan that outlines how each option will help you achieve your property goals.

3. Negotiating with the Bank

Once your loan product is identified, we will negotiate with lenders on your behalf in order to get you the best interest rate.

Goodwin Home Loans works with lenders that value and trust our judgement. This elevates our broker to PREMIUM status.

Being a PREMIUM BROKER allows us to:

Negotiate better rates for our clients
We get access to product discounts that are not available to the general public.

Ask for upfront property valuations
Most banks reserve this for only a handful of their top brokers. When the clock is ticking this could be the difference between purchasing your dream home, and missing out.

Negotiate and present challenging or non standard deals or deals

4. Collect Documents

Your Goodwin Home Loans broker collects various information and documents required for your Loan Application.

This is done using our state of the art system, which is accessible by mobile phone.

The documents we need for your Loan Application include:

Identification documents
Passport, Drivers License, Medicare Card.

Banks/Lenders want to understand how you will be able to pay back the loan.

Bank Statements
Banks/Lenders are looking at how much you spend, and how much you save each month.

We value your privacy. All your personal documents are stored securely in our industry leading, state of the art cloud based systems.

5. Submit Application

Once all documents are collected, your Goodwin Home Loans broker will compile this information and send relevant application pages for signing.

We then submit the application to the Bank or Lender and manage all further correspondence on your behalf.

6. Application Approval


We will correspond with the Bank or Lender on your behalf and ask them to issue the final Loan Documents for signing.

You will then have the opportunity to review the loan documents to ensure the Bank has not missed any crucial details.

Your Goodwin Home Loans broker will help you through this process to ensure that everything is correct, completed and signed.

These documents will then be sent back to the Bank for Certification.

7. Loan Settlement


If you are purchasing a property, your Solicitor or Conveyancer can now book the settlement.

Once settlement occurs, the Bank or Lender will provide the funds required to complete your property purchase.

If you are re-financing an existing Loan, the new Bank or Lender will pay out the old provider and close out the old loan.

8. Ongoing Support

Unlike other Mortgage Brokers, Goodwin Home Loans provides a service that extends beyond loan settlement.

We review your loan periodically to ensure you are still receiving the best deal!

And, should you have any questions you can contact us anytime during and after your loan has settled!

Credit Representative Number 504150 is authorised under Australian Credit License Number 389328. This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.

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