You can apply for a home loan from Commbank Mortgages in several ways, including online, over the phone, or by visiting a branch. Here are the general steps involved in applying for a home loan from Commbank Mortgages:
- Determine your borrowing capacity: Before applying for a home loan, it’s important to determine your borrowing capacity, which is the amount of money you can borrow based on your income, expenses, and other financial commitments. You can use Commbank Mortgages’ online borrowing calculator to get an estimate of how much you may be able to borrow.
- Choose the right home loan product: Commbank Mortgages offers a range of home loan products to suit different needs and circumstances. You can compare the different home loan products on the Commbank Mortgages website or speak to a home lending specialist to determine which product is right for you.
- Gather your documentation: To apply for a home loan from Commbank Mortgages, you will need to provide documentation to verify your identity, income, expenses, and other financial information. This can include payslips, bank statements, tax returns, and other documents.
- Submit your application: Once you have chosen the right home loan product and gathered your documentation, you can submit your application online, over the phone, or by visiting a branch. You will need to provide details about the property you wish to purchase, your financial situation, and other information.
- Wait for approval: After you have submitted your application, Commbank Mortgages will review your application and assess your eligibility for a home loan. This process can take several days to several weeks, depending on the complexity of your application and other factors.
- Finalize the loan: If your application is approved, you will need to finalize the loan by signing the loan agreement and other documentation. Commbank Mortgages will then disburse the funds to the seller of the property, and you can take ownership of your new home.