Home Loan Preliminary Assessment: Fast, Free Borrowing Clarity
Gain clarity, shortlist the right homes, and make confident offers backed by verified borrowing capacity.
Introduction
Home loan Preliminary Assessment provides a verified understanding of how much you can borrow before you buy. It reduces uncertainty, strengthens your negotiating position, and helps focus your search on properties that genuinely match your budget. Mortgage House offers fast, free Preliminary Assessments with support from experienced Lending Specialists.
Benefits of Preliminary Assessment
Time saving
Convenience
Progress at your own pace
Confidence when making offers
Borrowing capacity across comfort levels
Clear early indication of approval likelihood
Accurate budgeting
Reduced uncertainty
Targeted property search
Long-term investment decision support
Passive income planning
Two-way trust with your lender
Fast Preliminary Assessment refresh
Loan Structures to Explore After Preliminary Assessment
Loan Purpose Flexibility
Purchases
Refinances
Renovations
Eligible debt consolidation
Investment properties
Business use(valid cases)
Portfolio expansion
Home improvements
Preliminary Assessment Process
Apply Online
Apply online – it can take as little as 15 minutes to fill in the details we need to start your application for the perfect home loan. Scroll down to begin
Upload Documents
By uploading copies of your passport and proof of income, you can fast track your home loan application to be ready for review.
Assessment
When you discuss your requirements with your Lending Specialist, they will find the best loan with interest-saving features to suit your needs.
Preliminary Assessment
How Can Preliminary Assessment Help You?
Before you formally apply for a home loan, many lenders will offer you a home loan Preliminary Assessment or conditional approval. They are issued early on in the application process, after a quick check into your finances.
Both Preliminary Assessment and conditional approval are used primarily to gain clarity on what financial backing you can realistically expect to achieve. Then, as long as the information provided is correct and the application continues without any hindrance, your home loan will be formally approved. The good news is, a lot of the information you need to apply for Preliminary Assessment will be used when it comes to formal approval, which means less work down the track!
Apply Online Anywhere, Anytime.
What resources can help me get Preliminary Assessment for a home loan?
At Mortgage House, we provide you with a lot of free resources to help make choosing a loan easier. We actively listen to what our customers say they need, not what we think their needs will be. As a result, our resources and information guides can help ensure a seamless and simple home loan application process.
One of those resources is our borrowing calculator. It can give you a good indication of how much you may be able to borrow before you apply for a loan. It is not the same as Preliminary Assessment but can be a good place to start. It can help you set your sights on the type of house you may be able to buy and its location. It can also give you an idea of the type of loan you may want, and what the repayments for it may be.
Another resource that can help in your search is our budget calculator. That can give you a clearer picture of your budget, and identify how much you may have available to save for a deposit and use for repayments. Using these resources can put you on the right track to Preliminary Assessment and final approval.
Commonly Asked Questions
What is conditional approval?
Conditional approval is a confirmation from Mortgage House that, on the basis that all required information provided is factually correct, you will be given approval subject to various conditions like successful credit checks. With conditional approval, you’ll be ready to put an offer on a property as soon as you find the perfect match.
What is home loan Preliminary Assessment?
Home loan Preliminary Assessment is a lender’s early assessment confirming how much you may be able to borrow before you make an offer.
How is Preliminary Assessment different to conditional approval?
If you want to start seriously looking for a property, your offer will be stronger if the loan amount has been conditionally approved. If you have found the property for you and have had it valued, you can do Preliminary Assessment for the home loan and the property in one go.
Can I compare loans before being pre-approved for a mortgage?
While choosing between mortgages can be overwhelming, given the choice on the market today, comparing mortgages has never been easier. Looking at interest rates and repayments can be helpful, but comparing all the other aspects of the loans can be a lot more useful. Being able to compare features, fees, loan purposes and repayment options can help you get a bigger and better picture of which loan might be suitable for you and your property goals.
Is conditional approval all I need to get a home loan for a property?
If you go to auction with conditional approval, you’ll still need to gain full approval after a successful bid. That process will involve a valuation of the property you plan to purchase. If you’re buying privately, you can still put in an offer as long as the seller allows it.
Does Preliminary Assessment guarantee final approval?
No. Final approval requires property valuation, full verification, and unchanged financial circumstances.
Can I make offers without Preliminary Assessment?
Yes, but it introduces significant risk and weakens your negotiating position.
I've found a property and I'm ready to make a serious offer - what now?
If you already have conditional approval, go right ahead! You can put a conditional offer down on the property to secure it.
If you don’t have a conditional approval but have already found the property you want to make an offer on, getting Preliminary Assessment is the way to go. Begin by applying online!
Can investors get multiple Preliminary Assessments?
Yes. Investors often compare lenders and strategies, but should avoid unnecessary credit enquiries.
Is it better to get Preliminary Assessment or conditional approval?
Preliminary Assessment (for those with a property they’d like to purchase lined up) or conditional approval (for those who are yet to find their dream property) are both helpful tools when looking to buy a property. They are both formal indications of how much a lender is willing to loan you, though a Preliminary Assessment will have had more checks done on the chosen property, showing the lender is satisfied with the hopeful purchase and not just your ability to repay the loan.
Research is still important, but it should be done well before you formally apply for conditional approval. A conditional approval should not form part of your research and comparison, rather, you should only apply for a home loan conditional or Preliminary Assessment once you have decided on a suitable lender.
When should I apply for loan Preliminary Assessment?
Applying for conditional approval, or Preliminary Assessment can be smart planning. Being strategic about your mortgage application can be important. It is a good idea to apply for Preliminary Assessment after you have used our borrowing calculator and you have an indication of your borrowing potential. As mentioned above, work out what monthly payments you can afford, and look at all the types of loans Mortgage House has to offer, and which ones may be suitable for you. It can also be a good to have an understanding of the local property market, and what your borrowing power can allow you to buy. Buying a property is likely to be the most expensive decision you have ever made in your life, so putting in as much planning as you can, can be beneficial. Use our Loan Application Documentation Checklist as an early guide to what you will need when applying for a loan.
How long does Preliminary Assessment last?
Typically three months, with easy refreshing if your search continues longer.
Is conditional approval the same as Preliminary Assessment?
Yes. Both terms refer to the same preliminary approval stage.
Does Preliminary Assessment affect credit?
A single credit enquiry has minimal impact when managed responsibly.
IMPORTANT DISCLAIMER: Preliminary Assessments and conditional approvals are valid for 3 months. This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House’s prevailing credit criteria apply. We recommend you seek independent legal and financial advice before proceeding with any loan.
Why Choose Mortgage House?
“Mortgage House has supported Australian borrowers for more than 39 years, offering structured lending guidance, responsible lending assessments, and experienced Lending Specialists. Our processes are designed to help buyers and investors make informed, confident, and compliant property decisions.”