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The #1 Way to Get a Fast Home Loan

The #1 Way to Get a Fast Home Loan

Nook Admin – December 21, 2021

Transcript of the video

Cy

Hi guys, welcome. I'm Cyrus from Nook, the Philippines one number mortgage broker. We will help you find the right home loan and get it approved by a major bank for absolutely no charge.

In this video I'm joined by Leigh from the Nook team and to help explain how you can avoid a lengthy home loan application process and make the experience as quick and as easy as possible.

Hi Leigh!

Leigh

Hi Cy!

Cy

So Leigh, before we get to your number 1 tip for a fast home loan approval, are there some things people can do themselves to help speed up the home loan process?

Leigh

Yes definitely.

There are some common things that can really slow down a home loan application from being approved with a major bank.

One of them is employment verification. This is part of the home loan approval process and it is where the bank needs to chat with a borrowers HR department to verify their employment status and other details.

Often, the employer does not respond to the banks request and this is where the home loan application can get stuck.

We always recommend that a borrower talk with their employer to advise them that they are applying for a home loan and that the bank will be contacting them for verification purposes.

Their HR team are now at least aware that someone will call.

Cy

Great tip. Is there anything else?

Leigh

I would say that applying to the wrong banks for the borrowers' financial circumstances is a common problem.

Many borrowers are unaware of which banks they are qualified to lend from and just randomly apply to a few different banks.

The problem is that not all banks are the same. They each have their own unique lending criteria. So a borrower may be approved by one bank by declined by another.

So we encourage borrowers to get pre-qualified with a mortgage broker like Nook to find the banks that a borrower matches the criteria of.

Cy

Interesting.....

Leigh

Another thing would be for the borrower to just be organised. Have your ID documents scanned and ready. Bank statements ready. Be ready to quickly respond to requests for information.

Banks have lot's of loan applications to deal with. The longer a borrower takes to respond with information, the more chance there is for the bank to focus on other applications.

Cy

Great. So Leigh, what is your number tip for a fast home loan approval?

Leigh

The fastest way to get a home loan approved is to work with a home loan specialist like Nook.

Nook is a mortgage broker and our team do nothing but home loans every single day.

A borrower will generally only go through a home loan process a few times in their life. But a mortgage broker does the process all day.

So having someone experienced manage the entire home loan process for a borrower is a sure way to speed up the process and relieve a lot of stress for the borrower.

Not only that, Nook has the technology to match borrowers to the right bank in a matter of minutes. This dramatically reduces the application time.

Cy

Right. So how much does it cost to hire a mortgage broker like Nook?

Leigh

The services of Nook are absolutely free of charge for the home loan borrower. A mortgage broker is paid by the bank once the loan is settled.

So Nook will handle the whole home loan application process, get the loan approved and paid out fast, and it costs the borrower nothing for us to do that.

Closing

Great, thanks Leigh for that insight.

So that is it for today.

If you're considering buying a property or need a housing loan and want to understand your financing options, contact Nook today.

Just visit nook.com.ph

If you got value from this video today, please share it with just one person you know. We would appreciate that.

Thanks for joining us. And see you next time.