FAQs

We get it, sometimes you just need a fast answer!

So we keep this FAQ list up to date with the most common questions we get asked by our clients. If you want a question answered here, just email us and we’ll get to it! Email: info@whitestar.com.au


How long does it take to get an approval?
You may obtain a conditional approval within 24 to 48 hours of submitting your completed application. A formal loan approval can take up to a week or it could take a little longer in some circumstances. So the quicker the documentation is received from you, the speedier the application process can be.
How does WhiteStar help me with a loan?

Our job is to find you a suitable loan product depending on your circumstances; we will look at your financial situation and what repayment structure you can comfortably afford given your income and lifestyle choices. All of these aspects will affect how the team at WhiteStar Finance can structure an appropriate loan for you. For example, deciding whether it is a standard loan or a non-conforming loan. Different lenders have different lending criteria. Having too many applications on your credit file can hurt your application therefore using a company like WhiteStar can hopefully help you get it right the first time.

As a first home buyer, what can you do for me?
WhiteStar Finance provides a phone service, answering your questions about how to obtain your first home loan. We can assist you with calculations on what repayments you can afford, what deposit you will need and what your weekly payments will be. The team at WhiteStar Finance can also assist you with a pre-approval loan which is ‘an obligation free and cost free service’ (it is indicative only and not binding to you or the lender). This will assist by narrowing your search for the right home which is in the right price range for you.
Can we apply for a loan over the telephone?
Yes! The team at WhiteStar Finance can obtain most of the information over the telephone saving you the time and energy required to attend meetings. All necessary documentation* for the loan application can be handled via email, fax or post. * Subject to appropriate identification.
Do you offer a variety of interest rates?
Yes! It is important to note that the ‘lender’ sets the rates based on a number of factors, such as risk and security – therefore the fees and interest rates will vary depending on your specific situation. For example, a standard home loan package (conforming) may have lower fees and competitive interest rates. In comparison, a non-conforming loan may attract higher fees and interest rates depending on the assessment of risk by the lender given your circumstances. Please ensure that before you accept any loan offer, you understand all fees, charges and the interest rate applied to your loan application. If you are not sure about any details of your loan offer, please contact our dedicated staff to assist you.
I have some unpaid defaults and I have been told to pay them first before applying for a loan. However, I want to pay them off now but do not have enough money to do so. Can you help me consolidate all of my debts without waiting?
Yes! We speak to many people in similar circumstances. We are often able to assist clients who may have defaults, judgements or are behind in their loan repayments (arrears). It is important to note that you will need to have residential property as security for a loan. Please call to speak to a consultant to discuss your individual circumstances and finance requirements.
Can I use the loan for business or investment use?
Of course! Provided the loan is secured by residential property.