Applying for home loan approval-in-principle

Apply for approval-in-principle

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Home loan approval-in-principle is five minutes away

It should take you less than five minutes to apply for approval-in-principle. You'll get an immediate response telling you whether we can offer you conditional approval. You can print a letter with the details of your conditional approval, and we'll send a copy to the email address that you give us as well.

And we'll speak with you, too

We'll give you a call a few days after we've received your application. If you want to make a full application, we'll arrange for that then.

What's "approval-in-principle"? Is it the same as "pre-approval"?

"Approval-in-principle" means that the basic information you've given us suggests that you'll qualify for a NAB home loan. But since we haven't checked that information or met with you about your loan it's not a guarantee, or "pre-approval".

Approval-in-principle isn't a guarantee

You should only use approval-in-principle as a guide. If you want to make an offer on a property, or bid at an auction, approval-in-principle isn't enough: You need to have a full application approved.

There are some things that approval-in-principle doesn’t take into account. For example, conditional approval might not indicate that we'll offer you full approval if:

  • you're self-employed and will make a "low doc" application
  • you want a line of credit instead of a regular home loan
  • you want to borrow more than 95% of the property's value
  • you want to buy an inner-city apartment, or another type of property that has special valuation guidelines.

Remember that you can only get full approval by completing a full home loan application.

Buying your first home?

Approval-in-principle doesn't factor in the first home owners' grant (FHOG). We'll take the FHOG into account as part of your full application.

Borrowing more than 80% of the property value?

You'll probably have to pay lenders' mortgage insurance (LMI) if you're borrowing more than 80% of the property value. Conditional approval doesn't take the cost of LMI into account.