What is the average time it takes to get a home loan approved?

This really depends on the lender / bank - they all have difference service level agreements at any give time and can change based on current application volumes. Best to check with your broker prior to selecting a lender. The quickest lenders can turn an application around in a matter of a few hours!

The average time it takes to get a home loan approved can vary depending on the lender, the type of loan, and the individual's financial situation. Generally, it takes between 4-6 weeks to get a home loan approved, although it can be faster or slower depending on the individual's circumstances. The process of getting a home loan approved involves submitting a loan application, which includes financial documents such as bank statements, pay slips, and proof of income. The lender will then assess the application and decide whether to approve the loan. Once the loan is approved, the lender will usually send a loan offer to the borrower. The borrower will then need to sign the loan documents and return them to the lender. It is important to note that the time taken to get a home loan approved can be affected by a number of factors, such as the lender's processing time, the complexity of the loan, and the borrower's financial situation. It is therefore important to ensure that all documents are submitted to the lender as soon as possible to ensure that the loan application is processed quickly. If you are looking for the best home loan rate, it is a good idea to check out Goodrate on https://goodrate.com.au/home-loan to see current interest rate offers.