The Home Loan Process, Step by Step

By Sergio Stefano, CEO & Head Broker

The home loan process feels opaque from the outside, which suits nobody except bad brokers. Here is the whole journey, in order, with what actually happens at each step and where the common surprises hide.

1. The conversation
Goals, income, savings, timeline. 15 minutes, no documents needed yet, and you leave knowing where you stand and what is realistic.
2. The paperwork gather
Identity, income evidence, statements. We give you a precise list for your situation, and self-employed borrowers get the alt-doc version rather than a salary-shaped checklist that does not fit.
3. Pre-approval
A lender's conditional yes to a borrowing amount, giving you a confident bidding range. Not a guarantee, and they expire, but shopping without one is shopping blind.
4. The property and the contract
You find the home; your conveyancer checks the contract; the lender values the property. Our valuation guide covers what happens there.
5. Formal application and approval
We package the file, lodge it, and manage the questions lenders inevitably ask. Unconditional approval is the real yes.
6. Settlement
Legal and financial handover day, coordinated between lender, conveyancer and agent. Your job: collect keys.
7. Aftercare
Where most broking ends and ours keeps going: reviews as rates and life change, and a broker who already knows your file for the next move.

General information only. First-timer? Start at first home buyer loans and get a feel for repayments with the repayment calculator. Valuations have their own guide.

Process questions

How long does the whole process take?

It varies with the lender, the property and how quickly documents come together. Pre-approval is typically measured in days to weeks, and contract-to-settlement commonly runs about 30 days in SA. We manage the timeline so surprises stay rare.

What documents will I need?

Identity, income evidence and account statements at minimum, with the exact list depending on your employment shape. We send a personalised checklist so you gather once, not 4 times.

What is the difference between pre-approval and approval?

Pre-approval is conditional: a lender's in-principle yes subject to the property and final checks. Unconditional approval, after valuation and verification, is the real commitment.

Where do things usually go wrong?

Undisclosed debts, changed spending in the months before applying, and valuation surprises. All 3 are manageable when your broker knows early, which is a good reason to be boringly honest with us.

The home loan process step by step

1. The conversation

2. The paperwork gather

3. Pre-approval

4. The property and the contract

5. Formal application and approval

6. Settlement

7. Aftercare

Process questions

Step 1 is a conversation