Securing pre-approval for a home loan is an important step in the home buying journey. If you have all your documents prepared and your lender isn’t too busy, it may take less than a day for you to receive a pre-approval outcome after submitting your application. However, in most cases you will receive a response within 2-3 business days.
What is a home loan pre-approval (aka conditional approval)?
Home loan pre-approval (sometimes called conditional approval, approval-in-principle, or letter of comfort) is an indication that a lender is willing to lend you the money for a home loan but has not yet proceeded to final approval.
Disclaimer: This article is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered Australian legal practitioner or financial or investment advisor.
Ready to take the next step?
Let’s get to know each other!
Talk to us about your home loan needs and we will package up a home loan with the features you want and tailor the rate to your circumstance.