YOUR HOME LOAN JOURNEY WITH MYNT FINANCIAL!
A step-by-step guide so you know what To expect —
from your first conversation with us to the day you get the keys.
Step 1: Initial Consultation & Document Collection
Meet with a Mynt Financial Lending Specialist to discuss your financial situation, goals, and loan options.
• Provide required documents (ID, income verification, bank statements, Fact Find, Privacy Consent Form).
• Use our secure portal for document submission.
⏳ Estimated Timeframe: 1-3 business days
Step 2: Reviewing Your Loan Options
Your Lending Specialist will review your information and financial details and then recommend tailored loan options from multiple lenders.
• Compare interest rates, loan features, and deposit requirements.
• Understand fixed vs. variable rates, LVR, and LMI implications.
⏳ Estimated Timeframe: 2-4 business days
Step 3: Loan Application Submission
Once you select a loan product:
• You receive a Credit Proposal and Preliminary Assessment.
• We prepare and submit your application to the lender.
• The lender conducts a credit check.
⏳ Estimated Timeframe: 1-5 business days
Step 4: Bank’s Approval Process
1. Pre-Assessment (1-5 days) – Lender reviews application.
2. Pre-Approval (Pre-approval lasts 60-90 days and gives you an estimate of how much you can borrow, but it’s not a guarantee of formal approval.) – changing jobs, increasing debts, or missing repayments can impact pre-approval status.
3. Conditional Approval – Any outstanding lender conditions must be met.
4. Formal Approval (1-10 days – can depend on the complexity of the application & valuation delays) – Final lender approval. 🎉
Please note: Property valuation may be required, and this can impact the timeline.
⏳ Estimated Timeframe: 2+ business days (varies by lender)
Step 5: Signing Loan Contracts
• Receive and review loan documents.
• Sign and return promptly.
• Ask questions if needed.
⏳ Estimated Timeframe: 1-3 business days
Step 6: Settlement
• Bank prepares for settlement. The lender transfers funds to the seller, your solicitor/conveyancer completes final legal steps, and ownership is transferred in the land registry.
• Funds are transferred, and keys handed over (if applicable). Please note, clients won’t get the keys immediately in some cases (e.g., off-the-plan purchases, delayed settlements).
⏳ Estimated Timeframe: 1-3 business days (or as per settlement date)
