The Home Loan Approval Process

Application Lodgement

Following the lodgement of a home loan application, hopeful borrowers are often keen to know what will happen next and how long it will take for them to receive the verdict. The bad news is that there is no one-size-fits-all answer. The good news, however, is that a solid application is the key to keeping the approval time 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.

Application Assessment

Before offering conditional approval, your potential lender will need to make an assessment of your application and most will conduct a valuation of the property at this point. Of course, having a valuation that is acceptable to the lender done in advance will expedite the process.


Valuations are carried out with the intention to support an application.  However, there are a few things that can result in an application not being approved based on a valuation, such as zoning, property size, or if the condition of the property is poor enough that major repairs would be required before it could realise its market value.

Capacity to Repay Loan Assessment

The lender will also assess your capacity to repay the loan amount you have requested. This is where all of the information about your salary and liabilities come into consideration, and where accurate and complete information is essential.  This may create a bit of to-and-fro between the lender, broker and the customer to ensure specific lender requirements are met.

Overall Judgement

Your potential lender makes an overall judgement of you as a borrower and the complexity of your financial history will affect how long this takes. To avoid wasting any time or creating any delays, your broker might choose to conduct a credit history check to confirm all has been disclosed upfront.


Following the submission of an application, you can expect your finance broker to be in touch with you to update you on progress, request any further supporting information required and to notify you of the outcome.

If your application is approved, your broker will also advise you and provide you with a formal letter of approval and in need assist you with the execution of loan documents and follow up all parties involved in the settlement process.

Speak to Whiteroom Finance Pty Ltd  (an MFAA  Accredited Finance Broker) about how they can simplify the home loan application and approval process, and create the strongest application for you.

Chris White

Chris White

Dip.FMBM – Managing Director / Finance Broker

With a history in public sector finance and the finance industry, Chris knows money.

With your best interests at heart, Chris will help you better understand your financial choices. He will guide you through your financial options and explain what it all means. In plain English.

Plan Australia Business of the Year – 1 Loan Consultant – Western Australia 2020
PLAN Australia Business of the Year Western Australia 2020
MFAA 2021 Commercial Finance Broker Award State Finalist
MFAA State Excellence Awards Commercial Finance Broker WA 2021
MFAA State Excellence Awards Commercial and Equipment Finance Broker WA 2022
Contact Whiteroom Finance today for an obligation-free consultation.

Leave a Reply

Your email address will not be published.