Home loans with pre-approval

Looking for a home loan that offers pre-approval? The table below displays a list of first-home-buyer home loans from our Online Partners available with pre-approval. The results are sorted first by Star Ratings (highest to lowest), then lowest comparison rate, then alphabetically by brand.

GM, Research
Senior Finance Content Producer
fact checked icon
Fact checked
search
filter
Online Partner ON
filter
Filters 5
search
Sort By
down-arrow
  • Star Rating - lowest first
  • Star Rating - highest first
  • Interest rate p.a. - lowest first
  • Interest rate p.a. - highest first
  • Comparison rate^ p.a. - lowest first
  • Comparison rate^ p.a. - highest first
  • Monthly repayment - lowest first
  • Monthly repayment - highest first
promoted
Fees & charges apply. Australian Credit Licence 237391.
5.54%
Variable
5.57%
$2,852
Principal & Interest
dot
Cashback up to $4,000*
dot
$0 application fees, monthly or annual fees
dot
Apply Online
Owner occupied
20% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 237391.
Fees & charges apply. Australian Credit Licence 237391.
promoted
Fees & charges apply. Australian Credit Licence 244310.
5.49%
Variable
5.50%
$2,836
Principal & Interest
dot
No upfront or ongoing monthly administration fees
dot
Option to link offset account, fee-free.
dot
Unlimited and flexible repayment options.
Owner occupied
20% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 244310.
Fees & charges apply. Australian Credit Licence 244310.
promoted
Fees & charges apply. Australian Credit Licence 395219.
5.54%
Variable
5.58%
$2,852
Principal & Interest
dot
Available for purchase or refinance, min 10% deposit
dot
Fast turnaround times to meet tight settlement timeframes
dot
No application, ongoing or monthly fees.
Owner occupied
10% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 395219.
Fees & charges apply. Australian Credit Licence 395219.
promoted
Fees & charges apply. Australian Credit Licence 230686. Products issued by ubank, part of NAB.
5.69%
Variable
5.71%
$2,899
Principal & Interest
dot
Easy application. Fast approval. No annual fee.
dot
Unlimited additional repayments free of charge.
dot
Products issued by Ubank, part of NAB
Owner occupied
20% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 230686. Products issued by ubank, part of NAB.
Fees & charges apply. Australian Credit Licence 230686. Products issued by ubank, part of NAB.
promoted
Fees & charges apply. Australian Credit Licence 244310.
5.49%
Variable
5.50%
$2,836
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 244310. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 244310. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
promoted
Fees & charges apply. Australian Credit Licence 496431.
5.54%
Variable
5.55%
$2,852
Principal & Interest
Owner occupied
10% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 496431. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 496431. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
promoted
Fees & charges apply. Australian Credit Licence 237391.
5.54%
Variable
5.57%
$2,852
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 237391. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 237391. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
promoted
Fees & charges apply. Australian Credit Licence 395219.
5.54%
Variable
5.58%
$2,852
Principal & Interest
Owner occupied
10% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 395219. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 395219. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
promoted
Fees & charges apply. Australian Credit Licence 244533.
5.49%
Variable
5.85%
$2,836
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 244533. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 244533. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
promoted
Fees & charges apply. Australian Credit Licence 237391.
5.64%
Variable
5.76%
$2,883
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 237391. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 237391. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
promoted
Fees & charges apply. Australian Credit Licence 237502.
5.69%
Variable
5.71%
$2,899
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 237502. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 237502. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
promoted
Fees & charges apply. Australian Credit Licence 230686. Products issued by ubank, part of NAB.
5.69%
Variable
5.71%
$2,899
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 230686. Products issued by ubank, part of NAB. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 230686. Products issued by ubank, part of NAB. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
promoted
Fees & charges apply. Australian Credit Licence 395219.
5.49%
Variable
5.95%
$2,836
Principal & Interest
Owner occupied
10% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 395219. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 395219. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
promoted
Fees & charges apply. Australian Credit Licence 229500.
5.69%
Variable
6.08%
$2,899
Principal & Interest
Cashback
Owner occupied
20% min deposit
Redraw facility
Fees & charges apply. Australian Credit Licence 229500. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 229500. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR

Showing 10 of 244 results

To see more results adjust the filters above

check Available
cross Not available
dash Data not captured
canstar-rating-icon Canstar Star Rating

Unsure of a term in the above table? View glossary

The initial results in the table above are sorted by Star Rating (High-Low) , then Comparison rate^ p.a. (Low-High) , then Provider Name (Alphabetical) . Additional filters may have been applied, which impact the results displayed in the table - filters can be applied or removed at any time.

promoted
Fees & charges apply. Australian Credit Licence 237391.
Interest rate p.a.
Comparison rate^ p.a.
Monthly repayment
5.54%
Variable
5.57%
$2,852
Principal & Interest
IMB Bank Budget Home Loan
Enjoy up to $4,000 cashback when you switch your eligible home loan to IMB Bank. Terms and Conditions Apply
dot
Low Rate Home Loan
dot
Apply online in minutes!
dot
Canstar's Most Satisfied Customers - Bank - 2022
Fees & charges apply. Australian Credit Licence 237391. See Terms & Conditions. ^ Comparison Rate Warning. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR
Fees & charges apply. Australian Credit Licence 237391. See Terms & Conditions. ^ Comparison Rate Warning. Star Rating for a $500k owner occupier variable rate P+I loan at 80% LVR

What is a home loan pre-approval?

Pre-approval home loans, also known as conditional approval loans, are loans where a lender approves your mortgage application in principle before you’ve found a place you’d like to buy. This conditional approval is not a guarantee you’ll be fully approved for a loan when you’re ready to make an offer on a property, but if you’re in the market and looking to buy, home loan pre-approval can be advantageous in various ways.

Pre-approval home loans can give you a firm idea of how much you can afford to borrow and therefore pay for a home. This means a pre-approval home loan can help you set a realistic buying budget, and hone in on listed properties that are within your price range.

Pre-approval home loans can allow you to bid with confidence at auction, or negotiate strongly on a private treaty sale, knowing you might have a better chance of securing full loan approval from the lender than someone who has not yet sought finance.

Not every lender offers conditional pre-approval, so it’s important to compare banks and other lenders that offer pre-approval home loans to narrow your search and find a suitable lender for your needs.

Why should I get a pre-approval home loan?

Home loan pre-approval is not compulsory. If you decide you’ve found your dream home and the right loan product for your needs, you can apply to your lender without asking for pre-approval.

If you’re still home hunting, pre-approval can potentially be useful to have up your sleeve. Some possible advantages can include:

  • Pre-approval typically means you can go from open houses and inspections with a firmer understanding of how much you can afford to spend. You know what price range you can realistically consider, so you can potentially save time by only considering homes you can likely afford.
  • Pre-approval lets you make a serious offer on a home on the spot, as both you and the home’s owners can be confident you’re the real deal.
  • Because you’ve already done much of the legwork to secure finance, you can  potentially speed up the process once the offer has been accepted.

There are a few considerations that could be worth bearing in mind before you choose to apply for conditional pre-approval.

For example, if you apply to a number of different lenders, applications generally involve a credit check, so making multiple applications could potentially negatively impact your credit score.

A pre-approval is also generally only valid for a set period of time, so it is a good idea not to apply too early. Otherwise, the home loan pre-approval may have expired by the time you’ve found a property you want to buy.

Frequently Asked Questions about Pre-approval Home Loans

The process of getting a pre-approval typically involves applying to your selected lender, who will review your finances (such as checking your credit score) and assess whether you’ll be able to repay a loan.

The time taken to get pre approval can be just a few days.

If a lender offers conditional approval and deems you eligible, you’ll be granted conditional pre-approval to borrow up to a certain amount. Most financial institutions offer conditional pre-approval which lasts for three to six months.

Pre-approval doesn’t necessarily mean you’ll get the loan. Pre-approval home loans provide ‘conditional approval’ or ‘approval in principle’.

In practice, this means a lender gives you an estimate of how much you could borrow for a home loan, provided you meet certain conditions. This is generally confirmed in writing with the conditions clearly listed.

In many cases, getting final (or unconditional) approval for your home loan won’t happen until you choose the home you’d like to buy. This is because  the property acts as security for your home loan, so the lender will want to complete a property valuation to be comfortable that you are paying a fair price for the place.

A pre-approval home loan may not progress to being fully approved if your personal circumstances change in the time between receiving pre-approval and finding the property you plan to buy.

For example, if you start a new job, there’s a drop in your credit score or a cut to your income could see you knocked back for full approval later on.

In addition, changes to home loan interest rates (particularly a rate rise) may scupper final approval of your loan if it affects your ability to repay the mortgage.

If you’re considering a fixed rate home loan, a possible solution here is to take out a ‘rate lock’. By paying a small fee, you can lock in the fixed rate you pay for a specific period (in some cases up to 90 days) after you have applied for the loan.

With a rate lock in place, the fixed rate applicable to your loan won’t change even if the lender raises their fixed rates before your home loan is finalised.

Latest in home loans

Canstar Star Ratings and Awards

Looking for an award-winning product or to switch providers or brands? Canstar rates products based on price and features in our Star Ratings and Awards. Our expert Research team shares insights about which products offer 5-Star value and which providers offer outstanding value overall. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.

Home Loan Awards      Refinance Home Loan Awards

About the authors

Mark Bristow, Senior Finance Content Producer

Mark Bristow
Mark Bristow is Canstar's Senior Finance Content Producer, and an experienced analyst, researcher, and producer. While primarily focused on Australian mortgage and home loan expertise, he has experience across energy, home and travel insurances. Mark has been a journalist and writer in the financial space for over ten years, previously researching and writing commercial real estate at CoreLogic. In the years since, Mark has worked for the Winning Group, Expedia, and has seen articles published at Lifehacker and Business Insider. Mark has also completed RG 146 (Tier 1), making him compliant to provide general advice for general insurance products like car, home, travel and health insurance, as well as giving him knowledge of investment options such as shares, derivatives, futures, managed investments, currencies and commodities. Find Mark on Linkedin.

Joshua Sale, GM, Research

Joshua Sale
Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research Team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products. As one of Canstar’s company spokespeople, Joshua is confident participating in print, radio and broadcast journalism interviews. He has participated in interviews with the Australian Financial Review, news.com.au and Money Magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends. You can follow Joshua on LinkedIn. Have a media enquiry, and interested in featuring Joshua as a financial expert and commentator? Contact Canstar’s Media Team today.

Important information

For those that love the detail

This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.

Canstar may earn a fee from its Online Partners for referrals from its website tables, and from sponsorship or promotion of certain products. Fees payable by product providers for referrals and sponsorship or promotion may vary between providers, website position, and revenue model. Sponsorship/promotion fees may be higher than referral fees. If a product is sponsored or promoted, it’s an ad and it is clearly marked as such. An ad might appear in different places on our website, such as in comparison tables and articles. Ads may be displayed in a fixed position in a table, regardless of the product's rating, price or other attributes. The location of an ad doesn’t indicate any ranking or rating by Canstar. Payment of fees for ads does not influence our Star Ratings. See How We Get Paid to find out more. Payment of fees for ads does not influence our Star Ratings or Awards.

Home loan Star Ratings are updated daily. During periods of significant market fluctuations, such as adjustments to the reserve bank's cash rate, star rating updates will be paused for variable home loans until the market has stabilised. However, advertised interest rates of products will continue to be updated as advised by lenders. The results don’t include every provider in the market and we may not compare all features relevant to you. Current rates and fees are displayed and may be different to what was rated. You can find a description of the initial sort order below the table. You can use the sort buttons at the top of each column to re-order the display. Learn more about our Home Loans Star Rating Methodology. The rating shown is only one factor to take into account when considering products. The table defaults to display only home loans available to somebody borrowing up to 80% of the property value, but you can use the filters to change this. Similar products might have different features and fees depending on the amount you borrow. Contact the lender for details.

The products and Star Ratings in the table might not match your exact inputs in the selector. Sometimes the methodology uses profiles with categories or bands (e.g. income, loan amount or monthly spend), but sometimes a single methodology, without any categories or bands, is applied.  The results will show the products that most closely match your selection, based on our profiles. If you are unsure about any terms used in the comparison table please refer to the glossary.

What is a Target Market Determination?

A Target Market Determination (‘TMD’) is a document that explains which people particular financial products may be suitable for (the target market) and sets out any conditions around how financial products can be distributed to consumers.

Why do product issuers provide Target Market Determinations?

From 5 October 2021, TMDs are compulsory for most financial products.

Issuers and distributors of financial products must take reasonable steps that are likely to result in financial products reaching consumers in the target market defined by the product issuer.

We recommend that you consider the TMD before making a purchase decision. Contact the product issuer directly for a copy of the TMD.

Any advice on this page is general and has not taken into account your objectives, financial situation or needs. Consider whether this general financial advice is right for your personal circumstances. Canstar provides information about credit products. We’re not suggesting or recommending a particular credit product for you. If you decide to apply for a loan, you will deal directly with the provider, not with Canstar. Consider the Target Market Determination (TMD) before making a purchase decision. Contact the product issuer directly for a copy of the TMD. It’s important you check rates and product information directly with the provider. For more information, read our Detailed Disclosure. ^Read the Comparison Rate Warning.

Canstar is not providing a recommendation for your individual circumstances. We cannot and do not recommend that any particular product is suitable for you. 

We provide links to our Online Partners. These are brands that may pay Canstar a fee for referring you. Our tables default to display only our Online Partners’ products initially, you can adjust the Online Partner Filter to see all of the products available for comparison on Canstar’s website. We provide these links so that you can click through to the product provider’s website to get more information. The provision of these links does not constitute a recommendation by Canstar.

Before you elect to terminate or modify existing lending arrangements, we recommend you consider (i) your personal circumstances, and (ii) any associated fees, exit costs and application costs that may be applicable as well as the impact these changes could have on you. We suggest you consider seeking independent advice from a qualified adviser.

“Interest-only loan” generally means a loan where you will only pay interest during the interest-only term. That means you won’t be making payments which reduce debt during the interest-only term.