Introducing PublicSquare Plus

The Insider's Guide to a Successful PublicSquare Application

Written by Dean Arnold
Founder & CEO, PublicSquare
Updated: Sep 17, 2023 | ⏱️ 4-min read
Updated:‏‏‎ ‎
Sep 17, 2023
⏱️ 4-min read

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<h2>Ready to get started? </h2>Navigating the path to homeownership can seem daunting, but with <a href='/products/rent-to-own-homes'>rent-to-own homes</a> by PublicSquare, it doesn't have to be! <br><br>Our simple two-stage process of pre-approval and final approval, is designed to make your journey smooth and stress-free.<br><br>To help you sail through with ease, here is a breakdown of both stages including some easy to follow advice:<br><br><h2>Stage 1: Pre-approval</h2>Pre-approval is the first step towards your dream home. <br><br>Here, you'll self-report your financial figures, including household income, expenses, and existing debts. <br><br>It takes only around 5 minutes and will not impact your credit score.<br><br><h3>Tips for Pre-approval Success</h3><strong>1. Add your figures</strong> <br>Make sure to combine the income and figures for all parties involved in the application. Most of the figures we ask for are on a WEEKLY basis.<br><br><strong>2. Region Availability</strong><br>Don't let your region's availability deter you from applying. If you tick all the boxes, we'll put you on our region waitlist and notify you as soon as we open to your area.<br><br><strong>3. Kickstarter Contribution</strong> <br>Your 2.5% kickstarter payment doesn't have to be genuine savings. If you anticipate receiving it from a family member or the sale of an asset, please include this in your savings amount.<br><br><strong>4. Savings Plan</strong>  <br>Most pre-approvals fail due to insufficient serviceability for the weekly debits. As a general rule of thumb, both of these barriers can be overcome by sticking to a savings plan for an extended period of time. <br><br>As an example, let's assume you already have $5,000 in the bank. If you were able to save $350 per week for a period of six months, while also keeping on top of your rent and bills, there is a very good chance you will qualify for pre-approval. ‍<br><br><strong>5. Use the Notes Section:</strong><br>If you encounter an issue with the pre-approval form, use the notes section to explain. We read every note, and it could help us understand your situation better.<br><br><img src='' alt='Screenshot of the PublicSquare Pre-approval form' style='width:100%;' /><span class='text-small caption-text text-muted'>Screenshot of the PublicSquare Pre-approval form</span><br><br><h2>Stage 2: Final Approval</h2>Once pre-approved, you're invited to complete the final application. <br><br>This process takes only around 10-minutes to complete and also does not impact your credit score. <br><br>The main tasks here are providing bank statements, a credit report and references, but we make this as easy as possible. <br><br>For example, there is a button in the final application form that can automatically collect your statements from your online banking app.<br><br><h3>Tips for Final Approval Success</h3><strong>1. Speed is Key</strong><br>The quickest path to full approval is swift completion of your application.<br><br>You have a 30-day window after pre-approval to submit your final application, and a speedy application not only saves you the hassle of reapplying but also secures your place in the queue.<br><br><strong>2. Supporting Documentation</strong><br>Providing all relevant supporting documents promptly is crucial. This is the most common reason for application delays.<br><br><strong>3. Accuracy is Essential</strong><br>Ensure all information provided is true and correct. Incorrect information only causes delays and leads to more questions.<br><br><strong>4. Use the Notes Section Again</strong><br>If there's additional information that might be important to your application, don't hesitate to share it in the notes section. We always consider these details on a case-by-case basis.<br><br><h2>We're here to help!</h2>Remember, our team at PublicSquare is here to guide you through each step of your journey. <br><br>Follow these tips and you'll be well on your way to making your dream of homeownership a reality.
Written by Dean Arnold
Founder & CEO, PublicSquare
About me: Passionate about providing a better path to homeownership and financial freedom. Also interested in technology.

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