A: The LVR represents the percentage of your property’s value that you’re borrowing. A higher LVR typically results in a higher interest rate as it increases the lender’s risk.
Q: How can I get pre-approved for a mortgage?
A: To get pre-approved for a mortgage, you need to provide the lender with your financial information, including income statements, tax returns, and bank statements. The lender will then assess your financial situation and issue a pre-approval letter stating the maximum loan amount you qualify for.
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