Congratulations! 🎉 The bank has now approved your loan. That's great news! Is all of the paperwork done now? No... not yet.
Post-approval stage is most often overlooked. Most people think that once the home loan is approved, they're all set with the property purchase. That is not the case with home loans.
A few more steps are need to be done after the approval is given. The amount of work depends on a number factors such as:
Type of home loan
Whether it is ready for occupancy from the developer or resell property from an individual seller
Even with the assistance from other third parties, it's still very time-consuming for the borrower.
But with Nook, we do all the post-approval steps to ensure the loan is paid out as fast as possible. Our team handles all bank correspondence and guides the borrower through every step.
There are constant alerts and updates for the borrower from Nook that lets them know what's happening with their home loan application.