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Unloan’s Check A Property Tool: How-To Guide
Unloan’s Check A Property Tool: How-To Guide

Interested in applying to buy a home with Unloan? Learn how to use our Property Check feature that is part of our Buying A Home offering.

Updated over a week ago

Our Check A Property tool is designed to assist you in your home-buying experience. It provides property details on your dream home including property features, estimated property value, property history and local market activity. It also helps you estimate your affordability to buy your dream home, based on your financial situation.

How to use the Unloan Check A Property tool in four simple steps

  1. Enter the property address in the search bar

  2. As you enter the property address, a drop-down list of properties will populate

  3. Select your desired property from the list

  4. You’ll be able to view the details of the property

What do you see on the Unloan Check A Property tool?

After searching a property, you’ll be able to see all property details held by Domain including:

  • Listing details including when the property was last sold

  • Property features including land size, number of bedrooms, bathrooms and car spaces

  • Auction details such as date and time of the auction

  • Estimated property value so you can get an understanding of how much the property could be worth

  • Property history including the rental and selling history of the property, and changes in pricing over time

  • Local market activity so you know what’s for sale or rent, and has recently sold

Learn more about property reports and what to expect here.

Understanding the affordability widget

The affordability widget can help you quickly estimate whether the property you’re researching is within your budget. Based on info you enter, you’ll get an estimate of:

  • The LVR required and how much deposit you’ll need

  • The upfront costs including stamp duty, estimated conveyancing costs, etc

  • The fees including government fees

  • How much you would need to borrow to purchase the property

  • What your monthly repayments could look like

This helps you estimate your overall affordability towards your selected property.

How is savings calculated?

When researching properties on Unloan’s Check A Property tool, the displayed savings amount is automatically set to the minimum required amount to meet Unloan’s loan-to-value ratio (LVR) criteria, based on the estimated property value. You can adjust the savings amount to reflect your circumstances which will help to more accurately estimate your affordability. If you have more savings, this could help reduce the amount you need to borrow, resulting in a lower LVR. On the flip side, if your savings are limited, your deposit will be smaller and this means you'll need to borrow more, increasing the LVR.

Don't have a 20% deposit? Here are five things to consider.

How do you calculate my available deposit?

Your available deposit is calculated by taking into account the savings you have entered and estimated upfront costs needed to complete the property purchase. To see a breakdown, select ‘See Calculations’ within the affordability widget.

How do I calculate my borrowing power?

Within the affordability widget, there will be an option to calculate your borrowing power. Hit the ‘Calculate’ button and

  1. Select your loan purpose

  2. Indicate who the loan is for – is it just you, or do you have a co-borrower?

  3. Provide your income details and expenses

  4. Hit ‘Calculate’

  5. You’ll be shown your estimated borrowing power, based on the information you have entered

If you need to recalculate your borrowing power, you can select ‘Change my financial details’.

Learn more about borrowing power, how it’s calculated and factors that impact your borrowing power, here.

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