Your Home Loan Journey, Simplified with CheckMyRate

Let’s be honest, getting a home loan has a reputation... paperwork, phone tag and confusing terms. A feeling that you're only one wrong step away from blowing the whole thing. But it doesn’t have to be that way!

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Whether you're buying, refinancing or investing, we’ve designed an 8-step experience that’s clear, focused and built around you, not the bank.

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Here’s how we guide you from the first conversation, to settlement day and beyond.

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Step 1: Discovery Conversation

We start with an initial conversation to understand your goals. Whether you're ready to act now or planning ahead, this is where we unpack what you're hoping to achieve and map out a strategy to get you there.

To make the most of your initial discovery meeting, it’s useful to come prepared with a few key details. This will give us a solid starting point and help ensure our conversation is focused, productive and tailored to your goals. Here’s what you should consider prior to the meeting:

• How much are we willing to contribute to the purchase (e.g, deposit);
• How much do we earn and what are our current financial commitments (e.g., credit cards, HECS);
• What are our short and long term financial and lifestyle goals (e.g., holidays, family, investments); and
• What would we like to know from our Broker.

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Step 2: Fact Find & Documents

Once we’ve had an initial conversation and know what you're aiming for, we’ll take a deeper look at your financial picture. This step allows our experts to assess your borrowing power and start building tailored loan options for you.

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To help us provide accurate credit advice tailored to your situation, you’ll complete a short fact find and upload key documents that give us a clear snapshot of your financial position. These typically include:

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• ID (e.g., driver's licence, passport, Medicare card);
• Recent payslips or self-employed income documents;
• Bank statements showing your savings and income; and
• Statements for any liabilities like credit cards or personal loans.

Your broker will confirm exactly what’s required, but having these documents prepared in advance, helps us move quickly.

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Step 3: Borrowing Power & Recommendations

After reviewing your fact find and documents, your dedicated broker and support team will assess your borrowing power and start crunching the numbers behind the scenes.

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Next, you’ll have a one-on-one meeting where we walk you through your borrowing capacity, loan scenarios and product recommendations. In this session, we’ll cover the key points to give you a clear understanding of your options and how they align with your goals, including:

• An overview of your borrowing capacity and what it means for your purchasing power;
• A breakdown of loan scenarios tailored to your situation;
• Recommended loan products and why they suit your needs; and
• The structure of the loan and how it supports your short and long term financial goals.

This is where clarity and confidence start to take shape, so if there’s anything you’re unsure about, don’t hesitate to ask. Once you're comfortable with everything, your broker will proceed to lodge your loan application for pre-approval.

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Step 4: Pre-Approval

Once pre-approval is achieved, you’ll receive a confirmation from your broker outlining the approved amount along with any conditions / restrictions. For example, your chosen lender may have restrictions around minimum internal property size, such as requiring the property to be over 50 sqm internally. Your broker will flag any known issues, but if you’re ever in doubt, it’s always best to ask.

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At this stage, it’s also a great time to engage a trusted Conveyancer or Solicitor. They’ll help you understand the legal aspects involved, including reviewing contracts and guiding you when it’s time to make an offer. If you don’t have one in mind, feel free to ask our experts, as we work closely with a panel of trusted professionals and can connect you.

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Step 5: Property Search & Offer

This is your time to inspect, research and explore. While you're hunting, we’re on standby to support.

Before making an offer, consider discussing the following with your Conveyancer / Solicitor and broker:

• Has your Conveyancer or Solicitor reviewed the contract to identify any red flags?
• Have you confirmed the proposed settlement terms with your broker can be met (e.g. “property settles within 42 days from contract signing”)?
• Are there any finance clauses, special conditions or other details that could impact the approval process?

Taking these simple steps early can help flag potential issues and ensure a smoother path to formal approval.

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Step 6: Formal Approval

Once your offer is accepted, we submit your application for formal approval, also known as unconditional approval. At this stage, the lender will:

• Order a valuation through their approved panel;
• Reassess your financials in further detail; and
• Confirm that both you and the property meet their lending criteria.

Once the lender is satisfied with all the required checks, they’ll issue formal approval of your loan - your broker will notify you as soon as this happens. Shortly after, your loan documents will be issued. These loan documents outline the legal terms and conditions of your loan agreement. Don’t worry, we’ll guide you through loan documents, ensuring you understand everything clearly before signing.

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Step 7: Settlement Day

The big day has finally arrived, the moment you finally settle the purchase, pick up the keys and crack the door open for the first time.

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On the day of settlement, we’ll work closely behind the scenes with your Conveyancer or Solicitor, who will coordinate with the lender and the seller to officially transfer ownership. Any remaining funds required to complete the purchase will be drawn from the respective account and your loan will be activated, marking the official start of your homeownership journey.

It’s a major milestone and one worth celebrating. Congratulations, you should be incredibly proud!

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Step 8: Post-Settlement Support

Our relationship doesn’t stop at settlement. We’re here for the long haul.

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Behind the scenes, our team of experts will continue to support you well beyond settlement. We’ll regularly review your interest rate, highlight potential savings or better-suited products if available, and provide strategic credit advice as your needs evolve, whether you’re planning to invest, upgrade or simply want to ensure your loan stays competitive.

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With Check My Rate, you’re never just a number in a system. You’re a client we back for the long term.

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Thinking about getting started?

Whether you’re weeks away from buying or just exploring your options, the best time to talk is now. Leave an enquiry or contact us on 1300 200 088 and we will arrange a time for a discovery conversation with one of our experts.