A defence home loan approved in eight business days.
A Navy veteran needed to sell one home and buy another closer to his posting, on a single settlement day. The lender's own approval service level was fifteen business days. We got it to yes in eight.
The challenge.
The client is a Navy veteran. He was selling the home he owned and buying another one closer to where he works — the kind of move where the two deals have to land on the same day or neither one works. Sell without a purchase lined up and you're renting; buy without the sale and you're carrying two mortgages. That timing put all the pressure on approval. His purchase needed finance approved in time to settle alongside the sale, and the lender best suited to the deal was quoting a fifteen-business-day service level just to reach a decision. On paper, too slow for the settlement he needed.
How we structured it.
The right home for this borrower was Australian Military Bank, under the Defence Home Ownership Assistance Scheme — built for exactly this borrower, subsidising part of the interest for eligible serving and ex-serving members. His income stacked up cleanly: a PAYG salary alongside a DVA pension, with good credit behind both. DHOAS files carry more moving parts than a standard application. The eligibility and the subsidy have to be verified as well as the loan itself, which is part of why the queue runs long. So we packaged it to remove every reason for a back-and-forth: eligibility evidence, both income streams and the servicing all documented up front. Then we stayed on the file and escalated it through, rather than letting it sit in the queue.
The outcome.
Approved in eight business days against a fifteen-day service level. Nearly half the quoted time. A $944,000 loan over 30 years, approved in time to line the purchase up against the sale on one settlement day. For a client moving house and staying in service at the same time, the deadline wasn't negotiable. Knowing the scheme and working the file is what pulled seven business days out of it.
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