Home loan pre-approval

Knowing you have your home loan means you are free to shop around for your dream property. Get home loan pre approval with loans.com.au online.

What is a pre-approved home loan?

Pre-approval is preliminary approval from a lender, indicating that you should be approved for a home loan up to a certain dollar limit. Pre-approval has a number of different names including conditional approval, indicative approval and approval in principle.

You don’t need to find your new home before you can apply for a loan. In fact, it is a good idea to get pre-approval beforehand.

loans.com.au provides a home loan pre-approval which is valid for four months.

Does pre-approval mean you will get the loan?

Pre-approval isn’t a 100% guarantee that you will be approved for a loan. It is “conditional” on you supplying documents to support a formal application for a home loan and a valuation of your property.

Pre-approval is important for anyone who wants a home loan to buy a property. This includes first home buyers, investors and people who have equity in property already like upsizers or downsizers.

Can I buy a property with conditional approval?

Bidding at auction

Bidding at auction

You can bid for a property at auction with pre-approval but be careful not to pay more than the property’s fair market value because if you overpay it can affect your chances of getting full approval.

Private treaty sales

Private treaty sales

If you have pre-approval you can make an offer and the seller is more likely to accept a “subject to finance” clause because it is clear that you have a reasonable expectation of getting finance.

Find out if you qualify for pre-approval with loans.com.au in less than two minutes and enjoy peace of mind as you search for your dream home.

DO I QUALIFY?

Do you know what you can spend?

Do you know what you can spend?

Provided your circumstances don’t change significantly, pre-approval will give you a good idea of how much you can afford to pay for a property.

You’ll also be free to make an offer on a home knowing that your finance is already largely organised.

Knowing how much money you have to spend is a major benefit when looking for a home because you won’t waste time looking at properties you can’t afford or ignoring ones that you can.

More credibility with sellers

If you have home loan pre-approval there is less prospect that finance will become an issue during the sales process and vendors are also likely to take you more seriously because they know you have finance.

You aren’t simply guessing at the key question of “do I qualify for a home loan?"

Some real estate agents and property developers are not interested if you do not get pre-approval on your home loan before you approach them.

This especially applies when you are buying off the plan or are considering building a new home.

How do I get pre-approval?

If you are wondering how to get pre-approved for a home loan, don’t worry it is easy.

loans.com.au is super fast when it comes to pre-approvals, because everything is done online as part of our easy home loan pre-approval process.

All you need is basic facts about your finances and the type of home you plan to buy.

You can find out if you qualify for pre-approval with loans.com.au in less than two minutes and enjoy peace of mind as you search for your dream home.

When you decide to proceed to getting a loan, you can apply for a home loan online.

DO I QUALIFY?

Frequently asked questions

Do pre-approvals hurt your credit score?

Having one pre-approval enquiry on your record in the last year will have minimal effect on your credit score. What can be a problem, though, is if you apply for pre-approval with lots of lenders in a short timeframe. The best approach is to work out which lender you want to go with and then apply with them.

Can you be denied a loan after a pre-approval?

You can still be rejected for a loan if you have pre-approval but it’s much less likely. Pre-approval gives you a good idea of how much we would be willing to lend you, based upon the information you have provided us. However, it is still subject to valuation of your property and confirmation that all of the information is correct.

How long does loan pre-approval take?

Our online pre-approval only takes a couple of minutes. You just need to enter some basic information and we will process your pre-approval on the spot.

What if pre-approval expires?

Just call us on 13 10 90 and speak with one of our Loan Specialists. They can extend your pre-approval so you don’t start need to start again.

How long does a loan approval take?

How long it takes to get a loan approval will depend upon your circumstances and how long it takes you to get your supporting documents to us. Once you have given us all your documents, we can generally give you final approval within 48 hours. If it is urgent, let us know and we’ll work to your time frames.

How much does pre-approval cost?

Loan pre-approval is absolutely free.

Can I get pre-approved by multiple lenders?

There is nothing to stop you getting pre-approved by multiple lenders but it could hurt your credit score, which will make it harder to get final approval for the loan you actually want when you need it.

What is the home loan pre-approval process?

Our home loan pre-approval process is completely automated. Just click on the link below to get pre-approval. It only takes a couple of minutes. You will need to know general information about your income, expenses, and how much you plan to borrow.

Faster finance

Knowing you have your home loan means you are free to shop around for your dream property. Get home loan pre-approval in minutes with loans.com.au online now.

You don’t need to find your new home before you can apply for a loan. In fact, it is a good idea to get pre-approval beforehand. Submit a pre-qualification and book an appointment with a lender.

DO I QUALIFY?

3 steps to settlement

Found your property? Go from application to settlement in three easy steps. Here's how to lock in a super-low-rate home loan, super-fast.

1
2
3
easy-steps-img

Apply

Apply online or on the phone with one of our Australian-based loan specialists.

easy-steps-img

onTrack to Approved

It is easy for you to track your application to approval, receive your loan documents and set up online services with our award winning onTrack app.

easy-steps-img

Settle and Save

We do everything required for the loan settlement, so you can start saving money.

About loans.com.au

loans.com.au is an award-winning online lender that is proudly Australian and based in the heart of Brisbane, with offices in other capital cities.

We are powered by the financial strength of Firstmac, which is Australia's largest non-bank lender. Firstmac has been operating successfully for 39 years and it has more than $11 billion in mortgages under management.

About loans.com.au

Talk to us right now

phone

Call us on 13 10 90 8am to 6pm, Monday to Friday AEST. Alternatively, call us on +61 7 3017 8899

chat

We can chat with you online 7 days a week between 7am and 1am.

 
Call us on
13 10 90
or
Request A Call
7am - 7pm, Monday to Friday. AEST