Following the lodgement of a home loan application, borrowers are often keen to know what will happen next and how long it will take. The bad news is that there is no one-size-fits-all answer. The good news is, that a solid (broker prepared!) application is the key to keeping the approval time frame short.

The amount of time it takes for you to receive a response to your home loan application can vary. An answer is usually received between two days to two weeks, depending on a range of factors.

For reasonably straightforward applications, it can be as short as 24 hours to a formal approval. Depending on how complex the circumstances are, such as self-employed applicants, it can also take much longer.


Before granting conditional approval, the lender will need to make an assessment of your application and conduct a valuation of the property. By doing the valuation in advance will help expedite the process.

Valuations are conducted to support an application. There are a few factors that can result in an application not being approved based on valuation, such as zoning, property size, or if the condition of the property is poor and major repairs are required.


The lender will also assess your capacity to repay the loan . This is where all of the information about your salary and liabilities come into consideration, and where accurate and complete information is essential.

Credit review by the lender can include a bit of to-and-fro due to the request for further information. Your lender is making an overall judgement of you as a borrower. The complexity of your financial history will affect how long this takes. The biggest red flag is non-disclosure of liabilities or adverse information on your credit file, and whether it is included in the documentation or not.

The complexity of the application process is one (of many!) reasons why its best to use a broker! Chances are we have dealt with that lender before and are across their process and specific policy requirements.


Following the submission of your application, we will be in touch to update you on its progress. If your application is approved, we will advise you of when to expect a formal letter of approval from your lender.

Once formal approval is granted. Documents are generated and settlement is booked in!

Drop us a line to to have a chat or get your application cracking!

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