Home loan pre-approval

In many cases, you could be pre-approved for an NRMA Home Loan in minutes.

It may take a little longer if your situation is complex or if we need some more information. We’ll be in touch if that’s the case.

If your application is successful, your pre-approval is valid for 60 days. We understand that finding the right property can take time, so we’ll send you a reminder before it expires. If needed, you can renew your pre-approval for an additional 60 days.

Please note, pre-approval can only be renewed once. After the extra 60 days, you’ll need to start a new application.

NRMA Home Loans may not be suitable for everyone or available for all properties in all locations. Before applying, check our eligibility criteria to make sure it’s the right fit for you.

Auction sales are typically unconditional and final, so even if you have pre-approval, it’s best to confirm we can lend against the property and aim for full approval.

Before you place a bid at auction, it’s important to understand that buying at auction comes with risk. To see if we can lend against the property, log into the online portal and enter the address of the property you’d like to buy. This lets us validate the details and complete a property valuation.

If we can’t complete an automated valuation, we’ll need to order a full or desktop valuation before we can approve your application. As this process can take time, we recommend waiting until the valuation and approval are complete before bidding at auction.

If your personal or financial circumstances change after you have been pre-approved, you will need to update your application so it can be reassessed.

If you have any questions as you prepare to bid or make an offer, contact one of our home loan specialists for guidance.

To be eligible to apply for a new NRMA Home Loan, you’ll need:

• To be buying or have bought an established home (not land, or off the plan)
• To be an Australian citizen or permanent resident
• For the home to be in a capital city or regional area 
• Have a Loan-to-Value Ratio (LVR) of up to 80% for a Basic Home Loan or up to 90% for an Offset Home Loan, plus be able to cover stamp duty and all other government charges. If you borrow more than 80% of a property's value, you may be required to take out Lenders Mortgage Insurance
• To be able to verify your employment status.

Full time or part time employees

To be eligible for an NRMA Home Loan, you’ll need to have been in a full-time or part-time role for a minimum of 6 months, or have 12 months continuous service in the same industry/role.

To verify your full-time employment and income, you'll be asked during the online application to link your bank account(s) to the digital verification technology we use.

If you’d prefer, you can manually upload:

• A bank statement from the last 3 months showing regular salary payments from your employer (most recent statement must not be older than 45 days)
• A payslip from the last 60 days showing year to date (YTD) salary. If your payslip doesn’t show a YTD salary, please provide 2 recent payslips from the last 60 days.

Casual employees

To be eligible for an NRMA Home Loan, you’ll need to have been in a casual role for a minimum of 12 months in your current position, or 6 months in your current position if you have 2 years continuous service in the same industry.

To verify your employment and income, you'll be asked during the online application to link your bank account(s) to the digital verification technology we use.

If you’d prefer, you can manually upload:

• A bank statement from the last 3 months showing regular salary payments from your employer (most recent statement must not be older than 45 days)
• A payslip from the last 60 days showing year to date (YTD) salary. If your payslip doesn’t show a YTD salary, please provide 2 recent payslips from the last 60 days.

To verify your existing financial commitments such as credit cards and personal/student loans (if any), you’ll need to provide your most recent credit card or loan statement showing at least a month’s history.

Self-employed

To be eligible for an NRMA Home Loan if self-employed, you’ll need:

• A minimum of 1 year of trading history
• Your registered Australian Business Number (ABN)
• To be registered for Goods and Services Tax (GST) if your turnover is more than $75,000 per year
• Your most recent business tax return
• Your most recent personal tax return together with the notice of assessment.

We may ask you to provide supporting material to verify any existing personal loans. If any additional documents are needed, a credit assessor from our funder (Bendigo and Adelaide Bank) will let you know.

When you apply for a new NRMA Home Loan, you’ll need to provide ID and proof of your finances.

You’ll be asked to digitally verify one of these forms of ID:

• Driver’s licence
• Australian passport
• Foreign passport with an Australian visa
• Medicare card.

You’ll also be asked to verify your current financial situation.

You can do this by linking your bank account(s) to the digital verification technology we use. Or, by manually uploading copies of your transaction statements, loan statements and credit card statements (we’ll let you know what documents are needed during the application).

A credit check will be run once you complete your personal details and have read and consented to the Privacy Disclosure and Consent Form.

Once you submit your documents and your application, you’ll find out if your loan is approved, or if more information is needed.

We may decline your home loan application if it doesn’t meet our lending criteria, even if you’ve been pre-approved.

This may happen due to changes in your financial situation, the type of property or location of the property you’re buying, or if the property’s assessed value doesn’t align with the loan amount.