If you’re looking to buy a home, you’ve probably heard the term pre-approved. But what exactly does it mean? Let’s break it down:

1. It’s a Financial Check 
   A Pre-approval is when TopBond reviews your financial information—like your income, expenses, credit score, debts, payment profile and history —to determine how much you can afford to apply for as a bond on your new home. A Pre-Approval Certificate will be issued which indicates the amount that you can apply for with confidence.
2. It’s Not a Final Approval 
   Being Pre-Approved doesn’t mean the bond is guaranteed. It just gives you an estimate of how much you qualify for, so you can shop for home’s confidently within your budget.
3. It’s a Key Step in the Home-Buying Process 
   With a Pre-Approval Certificate from TopBond, you’ll know your borrowing power and be better prepared to make an offer. It also shows sellers and real estate agents that you’re a serious buyer.
4. It’s a Time-Saver 
   A Pre-Approval Certificate can speed up the bond approval process once you’ve found the right property. Since TopBond has already assessed your finances, you’ll be closer to getting that final bond approval.

At TopBond, we simplify the Pre-Approval process to help you take the first big step towards your dream home. Let us guide you every step of the way!