Know Your Borrowing capacity Before You Start Looking

Getting a home loan pre-approval gives you clarity on what you can borrow and confidence when approaching the property market. We review your financial situation, explain your options, and work with lenders to secure a conditional approval tailored to your goals.

Why Pre-Approvals Are Important

A pre-approval is an essential first step for anyone buying a home. It helps you:

• Understand your price range and realistic borrowing capacity

• Strengthen your position when negotiating with sellers

• Act quickly once the right property becomes available

• Reduce stress during the cooling-off period, knowing your situation has already been assessed

With a pre-approval in place, you have certainty about your borrowing power, giving you an advantage in a competitive Sydney market.

Computer-Generated vs Fully Assessed Pre-Approvals

Not all pre-approvals are created equal. Here’s the difference:

Computer-Generated Pre-Approval:

• Provides an estimate of your borrowing power based on limited information entered into a lender’s system

• Faster to obtain, but conditional on a full review when a property is found

• Gives a rough guide rather than a firm approval

Fully Assessed Pre-Approval:

• Reviewed by a lender’s credit assessor, with your income, expenses, and other documents fully verified

• Confirms your borrowing capacity and provides stronger certainty

• Once a property is found, formal approval is generally quicker

• Reduces stress during the cooling-off period because most of the work has already been done

Pre-approvals generally last around 90 days. Some lenders allow extensions, while others require a new application if the period expires.

How We Can Help

At Complete Home Loans Sydney, we help Sydney buyers in Camden, Newtown, and surrounding areas get pre-approved efficiently and accurately. Our process includes:

• Reviewing your income, debts, and savings

• Explaining your borrowing options and limits

• Advising on whether a computer-generated or fully assessed pre-approval suits your situation

• Securing your pre-approval so you can confidently search and bid on properties

Frequently Asked Questions

Do I need a pre-approval before making an offer?
While not legally required, a pre-approval gives you confidence and shows sellers you are serious, which can make your offer more competitive.

Which type of pre-approval should I get?
A computer-generated pre-approval gives a fast estimate, while a fully assessed pre-approval has been reviewed by a credit assessor with your income and documents verified. Fully assessed pre-approvals make formal approval quicker once a property is found and help reduce stress during the cooling-off period.

Ready to Get Pre-Approved?

A pre-approval gives you clarity, confidence, and a stronger position in the property market. We’ll assess your finances, explain your options, and help you secure the right pre-approval type for your situation.

Get in touch with Complete Home Loans Sydney today to start your pre-approval.