- Fast home loan approval may help some buyers secure a property, particularly in a competitive housing market
- Home loan approval times vary across lenders from several hours to several weeks
- Time variations greatly depend on the complexity of individual home loan applications
If you're looking to get pre-approval for a home loan before putting in an offer on a property you like, a lender with a fast approval time could be the difference between landing the house of your dreams and missing out.
While it absolutely shouldn't be your primary consideration, a lender with a track record of processing applications quickly can be a godsend when time is of the essence.
Fast home loan approvals: it depends
Even if a lender boasts impressive home loan approval times - from hours to a day - that doesn't necessarily mean your application will be processed within that timeframe.
Even the speediest of lenders will have an asterisk with fine print somewhere on its website with the caveat that not all home loan approvals can be completed in the advertised time.
Some applications are simply more complicated and may need to be referred to the lender's credit department while in other cases, lenders need to go back to applicants for additional information.
What can slow down home loan approval times?
There are several factors that can delay quick approvals, including:
- Incomplete paperwork: This is the number one cause of approval delays so be sure to have your documents in order and all forms completed
- Not using digital application tools: Submitting your documents via hardcopy along with handwritten application forms can slow down the assessment process considerably. Go digital if you can or get a lending specialist or mortgage broker to help you through the process
- Income not from wages: When an applicant has a more complicated financial position (e.g. working as a sole trader or contractor or deriving income from commissions or trusts), it can take longer for a lender to assess as the process will require more verification than simply referring to payslips
- Credit rating issues: If a borrower has a chequered credit history, the lender may need to complete a more comprehensive credit check which can take longer
- Falling outside serviceability markers: Many lenders will have a maximum debt-to-income ratio as well as other lending benchmarks, with any application falling outside the parameters being referred to the lender's credit department for further assessment
- Property valuation issues: If a lender's property valuation comes in significantly under the price a would-be buyer is offering to pay for a property, this can mean issues with the loan-to-value ratio (LVR), a key measure of lender risk. At best, it can trigger further investigation, delaying the approval process, or, at worst, see the loan application rejected
- Lender backlog: During hectic times on the housing market, or if a lender is offering particularly good rates or special deals, home loan approval times can be delayed through sheer volume of applications
Some tips to speed up your home loan approval
Some of the below will be in your control; some may not be, but they're worth knowing:
- Be prepared: As we've covered, the most common reason applications are delayed is incomplete information. Be thorough in your initial application and supply all the documents requested
- If you're self-employed, ensure you're providing adequate information to demonstrate your income. You may need to include personal tax returns, ABN information, and/or profit and loss statements for your business
- Respond quickly to lender requests: If a lender asks for further information, make it a priority to supply it as soon as possible
- Seek pre-approval first: Getting pre-approved for a home loan means your lender has done a basic financial check and document verification up front. This can speed up unconditional approval considerably
- Maintain a strong credit score: This is a no brainer and will whip you through the credit check stage
- Try not to change jobs: Some lenders like an applicant to have been in their jobs for a minimum 12 months while others will accept you as a borrower if you fall under that mark but have completed your probationary period
- Try not have have taken on recent new debt: If you've recently taken out another loan or credit product, lenders may be reluctant to automatically progress your application without further checking
Which major banks have the fastest home loan approval times?
Here's what Australia's biggest banks (and our broker friends) have to say about their approval times:
CommBank home loan approval times
According to CommBank's website, some loans can take as little as 60 minutes to approve but "many loans take between four to seven business days".
Applying through a broker
If you're submitting a loan application via a mortgage broker, CommBank also has a tier structure for brokers that can determine how fast applications from particular brokers are processed.
Tier levels are based on CommBank's assessment of brokers':
- loan quality
- volume
- engagement metrics (including accuracy of applications)
Westpac home loan approval times
Westpac publishes on its website a home loan approval timeline guide for mortgage brokers. Approval times vary according to whether applicants are:
- standard applicants - one day: PAYG wage earners, with loan-to-value ratios (LVRs) 80% or less
- self-employed applicants - two days: with full assessment
- specialised applicants - two days (including applicants under the 5% Deposit Scheme, individual trustees, multiple entities, and those applying for construction, guarantor, or bridging loans )
Westpac also extends priority service to some brokers over others which may see times vary, as well as whether applications are submitted error-free.
Westpac offers 'Fast Track' assessment for self-employed applicants in a bid to match PAYG processing times.
What the broker says
"Westpac has an efficient home loan approval process. It issues home-loan packs electronically and enables borrowers to sign via Westpac Live, which removes a lot of friction at contract stage.
"It's also switched on Consumer Data Right (CDR) sharing through ApplyOnline, giving customers easier access to their banking data straight from the source - resulting in less chasing and cleaner file quality for everyone."
NAB home loan approval times
NAB says home loan approval can take anything from a few hours to several business days, depending on complexity of the application.
NAB provides an updated guide of expected processing times for home loans for mortgage brokers, with many straightforward applications able to be processed within one business day.
The vast majority of NAB's home loan applications are processed through its 'Simple Home Loan' digital platform.
In 2023, the bank has boasted more than a third (35%) of eligible customers could have their loans approved in less than an hour, while half of all applicants receive a decision within 24 hours.
There have been no recent official updates on NAB's processing times.
ANZ home loan approval times
ANZ also provides brokers with a current guide to its home loan servicing times, based on the bank receiving a fully completed application and supporting documents.
As of April 2026, the times in business days are as follows:
Stage | Simple: No LMI | Simple: With LMI | Single entity self-employed/ foreign income | Complex |
|---|---|---|---|---|
New application | 2 day | 4 days | 6 days | 8 days |
Additional documents | 2 days | 2 days | 3 days | 3 days |
New home loans in a company name can take around 10 days to approve.
What the broker says
"The turnaround time is advertised as two to three days, but the catch is that with every other bank, it could be two days for the bank to pick up the file and assess it, but once it's picked up it will stay inside a 24-hour time frame.
"With ANZ, it could be two days before they pick it up, but if they ask for something and you send it back, it then goes back into the queue for another few days."
See also: Compare home loans from the big four banks
Macquarie Bank home loan approval times
Macquarie Bank says it understands how important quick turnaround times are for its brokers and customers.
It reports its usual home loan approval time is four hours or less for applications with all the required documents provided.
What the broker says
"Macquarie is the benchmark in terms of time to approval. They can have you formally approved on the same day - our record is 53 minutes!
"If you fit their lending policy and are a borrower that is well organised, you can have the deal done in less than a day.
"They're also happy to look at all structures - individual, company and trust borrowers, self-employed, or PAYG."
ING home loan approval times
The Dutch-owned online bank is Australia's sixth-largest owner-occupier home lender. ING also provides brokers with an updated guide to loan application processing times via its website.
As at April 2026, ING has the following average turnaround times for applications with all necessary documentation:
Business days to decision | |
|---|---|
Purchase | 3 days |
Refinance | 5 days |
Non-assessed pre approval | 1 day |
Suncorp home loan approval times
Suncorp, owned by ANZ, remains a top ten provider of both owner occupier and investor home loans in Australia.
Suncorp says there's no fixed period for a guaranteed outcome in a home loan assessment, but the entire process generally takes "a few business days". This is also dependent on the bank receiving fully completed applications and all necessary supporting documentation.
What the broker says
"The average current approval times for the major lenders [as at 15 April 2026] are:
- CommBank - 10 days
- Westpac - 12 days
- NAB - 13 days
- ANZ - 13 days
- Macquarie Bank - 3 days (can be within 24 hours)
- Bankwest - 7 days
- Suncorp - 7 days
- ING - 10 days
Times can be subject to how busy the market is, broker status with the lender, and how complex the application is."
AMP Bank home loan approval times
AMP Bank says the majority of its digital applications can be approved within 24-48 hours (up to two business days), depending on applicants having correctly completed their applications and supplying the required documents.
More complex applications will take longer. Applications involving companies and trusts can take up to 20 business days.
Bendigo Bank home loan approval time
While Bendigo Bank has its digital Bendigo Express home loan, not all its home loan application processes are fully automated.
This can result in longer approval times, sometimes up to 10 business days depending on the complexity of the application. However, pre-approvals can generally be turned around in a couple of days.
Bank of Queensland home loan approval times
Bank of Queensland does not provide a guide to its home loan processing times via its website.
While conditional approvals can generally be issued within a couple of days, internal processes in approving home loans can be slow, sometimes a couple of weeks or more, depending on complexity. The BoQ-owned digital bank ME Bank (see below) offers faster turnaround times.
Digital and non-bank lenders with fastest approval times
Tiimely Home home loan approval times
As we've already established, Tiimely Home (part-owned by Bendigo & Adelaide Bank) has a reputation for some of the faster home loan turnaround times on the market.
Tiimely spruiks an 'instant assessment' process that takes place in real time and also conducts comparatively in-depth pre-approvals, reducing the risk that unconditional approval will be denied further down the track.
ME Bank home loan approval times
Bank of Queensland's fully digital ME Bank updates its service estimate times every Monday at 10am AEST. As at April 2026, ME has the following estimates for home loan wait times, when all information is provided.
Pre check and submission | Time to verification and initial assessment | Time to credit assessment | |
|---|---|---|---|
Simple loan types | Same day (if submitted before 2pm) | + 2 days | + 3 days |
Complex loans (include LVR >80%, self- employed, multiple entities, construction loans) | Same day (if submitted before 2pm) | + 2 days | + 3 days |
Ubank home loan approval times
NAB's online-only home lender advertises the following standard processing times for its approval process:
- Online application takes about 20 minutes. For assisted applications, the call can take up to an hour
- The typical turnaround time for approval is up to five business days unless the bank needs any additional information
Ubank's AppTracker also allows home loan applicants to track the progression of their applications in real time.
loans.com.au home loan approval time
Online lender loans.com.au says it aims to provide approval for applicants in two to three days, depending on the customer's individual circumstances and all the correct documentation has been provided.
Unloan home loan approval time
If you submit a home loan application with Unloan (CommBank's online-only digital home loan division) before 3pm, it says a lending specialist will be in touch the same day (or end of the next day if you submitted after 3pm).
If your application is more complicated, Unloan offers an online tool that you can use to check up on your application's progress.
Do online lenders have faster home loan approval times than banks?
With streamlined fully digital processes, online lenders are often significantly faster than banks at approving home loans.
Their speed advantage may be linked to the use of algorithms, artificial intelligence, and Open Banking for instant access to applicant and property data rather than needing submitted documents to be verified.
However, non-bank lenders still need to perform credit assessments and may also need to seek additional information from borrowers, just like banks.
If there's a lot of back and forth with your online lender or you have a complicated application that needs more detailed assessment, you could find approval takes significantly longer than advertised.
Competitive home loan rates
If you're in the market for a home loan, the table below features some of the most competitive home loan rates on the market.
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.94% p.a. | 5.98% p.a. | $2,978 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure | ||||||||||
5.89% p.a. | 5.80% p.a. | $2,962 | Principal & Interest | Variable | $0 | $0 | 80% |
| Promoted | Disclosure | ||||||||||
5.99% p.a. | 6.02% p.a. | $2,995 | Principal & Interest | Fixed | $0 | $0 | 60% |
| Promoted | Disclosure | ||||||||||
5.93% p.a. | 5.93% p.a. | $2,975 | Principal & Interest | Variable | $0 | $395 | 70% | Disclosure |
