Obtaining a Pre-approval for a Home Loan

Hello Chasers,

If you’re in the market to buy a property or looking at refinancing your current home loan, one of the most important things to consider is trying to obtain pre-approval from a lender BEFORE you start.

While a mortgage broker is often the best person to compare your options, there are a number of things borrowers can do to improve their chances of being approved.


Lenders look at your application and will assess it based on your ability to repay the debt, your track record of paying off debts and how much deposit you are able to put down. The lower your deposit, the more risk you present to the lender. By saving a larger deposit, your chances of being approved for a loan might increase.


You can be sure that most lenders will take a close look at your history of paying off debts, also known as your credit score. If you have any outstanding loans that you have a record of late payments, you should look to get back on track before applying for more credit. Obtain a copy of your credit report, review it and look to see if there are any errors, if so it is imperative that you contact the credit agency and sorts this out – as the result of this could see your chances of obtaining a loan being hampered.

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