A: A pre-approval, also known as conditional approval, is an indication from a lender that you qualify for a particular loan amount based on an initial assessment of your financial situation. By applying for a pre-approval with LoanCaddie, you can gain several advantages: 1. Budget Clarity: A pre-approval provides you with a clear understanding of how much you can borrow, helping you set a realistic budget for your property search. 2. Increased Credibility: Having a pre-approval demonstrates to sellers that you are a serious buyer with financial backing, giving you an edge in competitive markets. 3. Faster Loan Processing: Since much of the financial assessment is already done during the pre-approval process, the final loan application and approval can be faster and more streamlined. LoanCaddie, as an independent Australian online mortgage broker, is dedicated to providing transparent and unbiased advice. Our pre-approval process ensures you are well-prepared and confident as you embark on your home-buying journey.

A: At LoanCaddie, we understand how important it is to have clarity during your home-buying journey. Typically, a pre-approval lasts for around 3 to 6 months. This time frame can vary depending on the specific lender and your unique financial circumstances. Pre-approval is designed to give you a clear indication of how much you can borrow, and having it valid for several months provides you with a solid window to house-hunt confidently. If your pre-approval expires before you find your dream home, renewing it is usually a straightforward process. Our dedicated team at LoanCaddie is always here to help you navigate every step, making the renewal process seamless and hassle-free. Keep in mind, if there are significant changes in your financial situation, it might affect the re-assessment. Reach out to us anytime – we’re enthusiastic about helping you succeed in securing your new home!