Home loan pre-approval made easy

What is a pre‑approved home loan?

A pre-approved home loan is an agreement by a lender, in principle, to help borrowers finance their house purchase. It indicates that the borrower is eligible to apply for a mortgage and provides an estimate of how much they can borrow.

At loans.com.au, we provide full assessment pre-approval, which includes a credit check from an independent credit agency and verification of your financial information.

How long does a home loan pre-approval last?

Home loan pre-approvals typically last up to 90 days or three months from the initial conditional approval date. You could have your pre-approved loan extended; however, this is subject to approval.

How to apply for a pre-approved home loan

We've streamlined the whole home loan pre-approval process to make it easier for potential borrowers. Here’s how you can apply:

Our lines are open if you have any questions about your home loan pre-approval. Speak to our lending specialists to discuss your home loan needs.

How long does it take to get pre-approved for a home loan?

A home loan pre-approval may take a few days to be issued because our lending specialists will need to verify your financial information and review your credit report.

What’s an auction ready pre-approval?

If you’re bidding for a property at an auction, you may want an auction ready pre-approved home loan. With this type of pre-approved home loan, you can bid with more confidence knowing you likely have the financing to follow through with your purchase.

Once you’re successful at auction, we will complete the valuation of the property and complete your home loan application. Learn more by talking to one of our friendly lending specialists.

How is a pre-approval different from a pre-qualified home loan?

Pre-approval requires documentation and a credit check, providing a more detailed assessment of how much you could potentially borrow. Meanwhile, pre-qualification is a quick and easy online process that gives you an estimate of your borrowing capacity.

When should you consider getting a home loan pre-approval?

The best time to get a home loan pre-approval is when you are ready to start your property search. Applying for a mortgage pre-approval will give you a clear idea of how much you could borrow and the type of home loan you may qualify for. This helps you focus on properties within your budget, making the house hunting process more efficient and less stressful.

A home loan pre-approval may also strengthen your position during negotiations or auctions. Sellers often see pre-approved buyers as committed and reliable, because there is a lower risk of the purchase falling through due to finance being declined. Having your pre-approval ready shows you are prepared to move quickly and may give you an advantage over other buyers.