How fast can pre-approval happen?

PAYG 3-7 days; self-employed 7-14 days; complex 2-3 weeks.

After offer accepted, how long to full approval?

5-14 days. Off-the-plan or unusual property longer.

How long from contract to settlement?

NSW typical 6 weeks (42 days) from contract.

Can settlement be delayed?

Common delays 1-2 weeks from valuation, paperwork, or defect issues.

Should I get pre-approval before house hunting?

Yes — confidence on offers, helps at auction. Valid 3-6 months.

How Long Refinancing

Who this guide is for

Australian buyers wanting to know realistic home loan approval timeframes — to plan offer timing, pre-approval, and settlement coordination.

FHBs planning their home buying journey
Buyers competing in fast-moving auctions or sales
Refinancers comparing switching timeframes
Self-employed wondering if their applications take longer

The local picture

Approval timing varies enormously — from days for clean PAYG salary to weeks for complex self-employed cases. Knowing realistic timeframes helps you plan offers and settlement.

How Mortgagefy helps locally

Mortgagefy gives you accurate timeframes based on your specific situation and lender choice. We coordinate timing for offers and settlement.

Free advice.

How it works — 4 simple steps

Free timing chat

20-minute call about your situation and timing needs.

Map realistic timing

We model approval and settlement timing for your application.

Application support

We submit and coordinate timing end to end.

Settle on schedule

You move into your home as planned.

Frequently asked questions

We use offer letters and vesting schedules to value RSUs conservatively. We present current vesting value + projected future vesting as a 3-5 year income average. This gives lenders confidence in your income stability while accounting for market volatility.

Both. We work with W2 employees, 1099 contractors, and consultants. For contractors, we use 2 years of tax returns plus business financials. We have lenders who specialise in contractor income—they understand the variability.

Unvested options have zero value for refinancing. We count only vested equity. If you have a 4-year vest, we use 25% of the grant value (what's vested) plus a conservative projection of future vesting.

If you've been in your new role 6+ months, most lenders will refinance. We'll use your offer letter plus 6 months of pay stubs. If less than 6 months, it's harder but possible with specialist lenders.

Yes, if you have 2+ years of bonus history. We average the past 2 years and present it conservatively. Some bonuses get counted at 50% to be conservative with variable compensation.

ESPP is counted as deferred compensation. If your company matches or you have a discount, we value it as part of total compensation package.

Get realistic home loan timing for your situation

Free 20-minute call.

Start Your Free Assessment Call 0432 634 648

Get your personalised answer in 2 minutes

Free, no obligation. We'll match you with the right lender for your situation.

Model your scenarios: Use our free home loan calculators to estimate borrowing capacity, repayments, and savings.

How Long Does Home Loan Approval Take in Australia?