Conditional pre-approval provides an estimate of how much you can borrow based on the information you provide to us. Applying for conditional pre-approval is important as it will help you understand what you can afford and give you the confidence to make an offer when the right property comes along.
Estimated time conditional pre-approval is valid for: 6 months
You can apply anytime online, over the phone or in person with help from one of our Home Lending Specialists. They’ll let you know exactly which documents you’ll need for your application.
Estimated time to complete home loan application: 15mins – 48 hours
You can use the Contract of Sale to negotiate your offer on a property. Once accepted, both you and the vendor (seller) sign this contract, which confirms selling price, settlement terms and any other conditions for the sale.
Once your loan application and documents are submitted, we’ll review them and complete any necessary checks we need to do at our end (e.g. property valuation, credit checks, building documents) before we provide formal approval and your loan offer documents.
Estimated time for home loan approval (once documents submitted): 1-5 business days
Settlement is when the purchase of the property is completed and it officially becomes yours. We will arrange a settlement date, time and location with your solicitor or conveyancer and notify you by SMS as soon as settlement is completed.
Estimated time from application to settlement: 4-6 weeks
Each home buying journey is different. Your Home Lending Specialist is there to guide you through these steps and help with anything specific to your situation.
Apply by 31 December 2021 and have your loan funded by 31 March 2022. Minimum refinance amount $250,000. Not available for Bridging Loans.
Book a time that suits you to speak to one of our Home Lending Specialists instantly.
Our Mobile Lenders will meet you at a time and place that suits you.
Our Home Lending Specialists can be found at more than 950 branches across Australia.
This advice has been prepared without taking your individual objectives, financial situation or needs into account. Before acting on this advice, you should consider whether it is appropriate to your circumstances. Applications for finance are subject to approval. Full terms and conditions will be included in the Bank’s loan offer. Home Insurance is provided by CommInsure, a registered business name of Commonwealth Insurance Limited ABN 96 067 524 216 AFSL 235030 (CIL). CIL is a wholly owned non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124 (The Bank). The Bank does not guarantee the obligations or performance of CIL or the products it offers. Where we refer to 'we', 'us' and 'our', we mean CIL. A Product Disclosure Statement is available at all Commonwealth Bank branches, by downloading them from commbank.com.au or by calling 13 2423 and should be considered before making any decisions about this product. You should also read the Home Insurance Key Fact Sheet, Financial Services Guide and Privacy Policy which are also available by calling 13 2423.
Our staff may receive payments for business they refer to other persons in the Bank who specialise in certain products and/ or services and may be eligible for prizes including overseas travel and gift vouchers. Our staff may also receive benefits such as tickets to sporting and cultural events, corporate promotional merchandise or other similar benefits from product providers whose products they may sell or for business they may refer to product providers. We receive commission for selling CommInsure Home Insurance and Loan Protection Insurance. The commission amount ranges between 0% to 20% of every annual premium amount. Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945. Registered office: Ground Floor, Tower 1, 201 Sussex Street, Sydney, NSW 2000.
