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What Does Approved in Principle Mean?

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Coronis Finance
What Does Approved in Principle Mean?

Approved in principle (AIP) is the first step to getting an approved home loan. It will also help you be seen as a more serious buyer, which can give you the upper hand when competing against buyers with less experience on their side of things.

When you’re ready to buy a property of your own, the first step is applying for approval in principle. This will help determine how much you want to borrow and what type of home would work best for your budget. Once approved in principle, there are many factors that should be considered when finding the right place like whether or not it has enough space or if its near good schools. For more details, you can talk to a mortgage broker in Queensland.

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