How to apply for pre-approval for your home loan
Applying for home loan pre-approval can give you a good idea of how much you could afford to borrow, so you know your limits when house hunting.
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Many home buyers apply to get pre-approvaldisclaimer(also called approval in principle or conditional approval) when they start house hunting. As well as giving you an indication of your borrowing power, it means that you can make an offer on a property with extra confidence.
In our pre-approval frequently asked questions we explore the what, why and how of applying for pre-approval for a home loan.
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Pre-approval frequently asked questions
To sum up
- Pre-approval can give you an indication of how much you could borrow from a particular lender
- Getting pre-approval is generally free of charge
- Pre-approval can help when house hunting as it gives you a better indication of a price range for properties
- Having pre-approval doesn’t mean you will definitely get a home loan
- Lenders attach certain conditions to pre-approval letters – generally, all conditions must be met to get your home loan
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The information on this page does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and read the relevant terms and conditions, Product Disclosure Statement and the ANZ Financial Services Guide (PDF) before acquiring any product.
Applications for credit subject to approval. Terms and conditions available on application. Fees and charges apply. Australian credit licence number 234527.
ANZ may provide pre-approval (also known as approval in principle or conditional approval) to eligible customers who apply for an ANZ home loan and complete an application form and satisfy any other applicable requirements. Pre-approval is an approval for a loan subject to conditions being met, including that security is satisfactory to ANZ. Australian Credit Licence Number 234527.
ReturnApplications for credit are subject to ANZ’s credit approval criteria. Terms and conditions, and fees and charges apply. Australian credit licence number 234527.
This estimate is based on the accuracy of the limited information provided. It is also based on a loan term of 30 years, payment type principal and interest and either an ANZ Standard Variable rate for home loans or an ANZ Standard Variable rate for residential investment property loans depending on the type of property you have selected. The estimate might be different if payment type is interest only. It does not constitute an offer of credit. To apply for an ANZ Home Loan you must complete an application. All applications for credit are subject to ANZ's normal credit approval criteria. ANZ does not store the information you provided to generate this document.
The calculation of estimated maximum home loan borrowing power excludes Lenders Mortgage Insurance. The value of the security property is also considered in any credit assessment criteria.
Minimum loan amounts apply to different loan types. For more information, visit anz.com or contact us.
ReturnProperty price information in an ANZ property profile report, such as a price prediction or price range, is an estimate, not a valuation. Property price information may not be available for all properties, is for personal domestic use only and may change daily. Actual sale prices may be different.
ReturnANZ Mobile Lenders operate as an independently operated ANZ Mortgage Solutions franchise of Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Australian Credit Licence Number 234527.
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