HOW TO APPLY FOR A HOME LOAN
A streamlined home loan application process with documents, approval – and help from a human at every stage.
Choose how to apply for your home loan
Online
Get started online. Save, submit and track your progress, with the option to negotiate a rate.
Phone
A lender can call you back to help complete your application: just book an appointment.
In person
Make an appointment at your nearest branch or with a mobile lender to chat face-to-face.
Real humans, real helpful
You'll have one lender from start to settlement, who can tailor a variable rate (check out our customer satisfaction score**).
Got a question before you apply? Our home loan specialists can also guide you through the home loan process. Book an appointment, and they’ll call you back.
5 steps to apply for a home loan
Step 1: Check you're eligible
You need to be:
- An Australian citizen or permanent resident
- Employed or self-employed
- 18 years or over.
You’ll need to book an appointment if you’re:
- Applying for a bridging loan
- Increasing your current Westpac home loan.
Step 2: Get started online
See how much we could lend you, or how much you could save by switching.
- Tell us the address or what you’re looking for, how much you want to borrow, your income, assets, expenses, debt, liabilities
- Buying a property but don't have all your docs at hand? Save your application and come back within 4 weeks, using your emailed application number
- We'll let you know before we run a credit check (if you’re buying property, your lender will call you before the check).
- Buying property with one other. To speed up the process, the first applicant submits the application for both of you. A lender then calls you both to finalise your application
- Refinancing with one other. The first applicant starts the application and submits their part. The second then gets an email inviting them to submit their part. A lender then calls both of you to finalise your application
- Applying with 2 to 8 other borrowers. Online application is unavailable, so book an appointment with a lender who can work out your combined maximum loan amount. Remember to talk with your tax adviser and legal agent about the complexities of structuring ownership this way.
- If you qualify for Priority Refinance (PDF 2MB), you may be able to settle within a week^^.
- We may be able to securely verify your ID online, and auto-verify your income paid to other financial institutions.
You'll find heaps of help throughout your application. For even more:
- Select ‘Need help’ in the ‘Message us now’ box to LiveChat with an agent 8am-8pm Mon-Thu, 8am-6pm Fri and 9am-6pm Sat-Sun (Sydney time), except public holidays
- Call a home lending specialist on 132 558 8am-8pm Mon-Fri, 9am-6pm Sat-Sun (Sydney time).
Step 3: Your lender will be in touch
Once you submit your application, we'll match you with a lender and email you their details. They’ll then call to:
- Finalise your interest rate (you may be able to negotiate)
- Review your documents and info
- Answer questions
- Match you with the right loan deal
- Walk you through your next steps
- Help you apply for any applicable government grants or schemes.
It depends on your situation – we'll let you know what home loan documents to share with your lender.
Buying a property? You can upload your supporting documents online anytime. They may include:
- Bank statements
- Living expenses and tax returns
- Proof of income (self-employed? See what you'll need)
- Existing property details, if you have one
- New customer? Two types of ID (Australian passport, Australian driver licence, Medicare card, Australian birth certificate).
Step 4: Pre-approval (buying property)
If everything looks good, you could get a 90-day conditional approval (aka pre-approval or approval in principle).
Need more time? You can extend it for another 90 days if you’re yet to find the right property, by confirming that your financial circumstances haven’t changed.
Step 5: Full approval & settlement
- We’ll value your property and make some final checks
- If offered full (unconditional) approval, you can accept the home loan contract online
- Then sit back, be guided through loan settlement, and pick up the keys on settlement day.
Your loan offer and contract will usually include:
- Details of the security (e.g. the property may be security against the loan)
- The loan amount
- Repayments, including repayment type (Interest Only or Principal & Interest), repayment amount, frequency and any charges or fees payable
- Interest rate and type
- The loan terms and conditions.
Like any legal document, we recommend that you get independent professional advice and make sure to check for errors and understand the details before you accept and sign.
Frequently asked questions
Ready to go home-hunting? Start applying for conditional approval when:
- You've estimated your repayments
- You have enough deposit (or equity)
- Your debts and income are in good standing
- You're happy for us to run a credit check (we'll let you know just before we do).
Each check affects your credit history and can impact your credit report. This means too many applications – or applying with multiple lenders at once – might make your financial situation look a bit unstable.
- See if you could save by switching
- Estimate your equity if you’d like to borrow more
- Check your current loan – if you have a fixed rate, your current lender may charge a break cost if you leave during the fixed rate term.
Our conditional approval allows you to confidently put in an offer and be taken seriously by the real estate agent. It lasts 90 days and can be extended another 90 if your financial circumstances haven’t changed.
Already made an offer without conditional approval? Get in touch with us as soon as you can to speak with a lender about your options.
Australian citizens and permanent residents (including New Zealand citizens living in Australia) aged 18 years or older can apply for a home loan online. If you don’t meet these criteria, you can book an appointment with us, or head into a branch to speak with a lender about your options.
Yes. Just mention a suburb or postcode on your shortlist, or fill it in later.
Yes you can.
- Once you start applying online, you’ll get an email with your application number - use this to jump back into your application.
- Existing customer? You can also resume your application in Online Banking.
- Once submitted, you’ll no longer be able to make changes. But if you're buying property you can still upload documents.
- Refinancing? Once the first applicant has submitted, they can only retrieve it after the secondary applicant has joined.
Please reach out to your broker or lender to help you if you need to make changes to your application after you’ve submitted it.
Yes:
- Your lender can withdraw it for you
- Select 'Need help' in the 'Message us now' box to LiveChat with an agent 8am-8pm Mon-Thu, 8am-6pm Fri and 9am-6pm Sat-Sun (Sydney time), except public holidays
- Or call 132 558 8am-8pm Mon-Fri, 9am-6pm Sat-Sun (Sydney time).
Yes, it can impact your credit score. But it's not the end of the world – we’ll let you know why and offer suggestions so you can improve your application next time.
Why choose Westpac?
Friendly home loan specialists
We're just a tap away and can help throughout the home-buying journey (check out our customer satisfaction score**)
Negotiate your rate
Once you apply, a lender will call you about our sweet rates – including a variable rate with offset, tailored just for you.
Australia's best banking app^
Manage your home loan and other banking accounts through our award-winning app.
Keeping Australians safe for 200+ years
24/7 monitoring to help keep you safe from fraud and scams. We've invested over $100 million in security features, some of which are Australian firsts.
Things you should know
Conditions, credit criteria, fees and charges apply. Residential lending is not available for Non-Australian Resident borrowers.
This information is general in nature and has been prepared without taking your personal objectives, circumstances and needs into account. You should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.
The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation.
**Source: customer satisfaction of 736 Westpac online home loan customers asked about their Westpac lender by Watermelon Research, October 2024.
^Westpac received the highest score in Digital experience review among Multi-Channel banks in Forrester's proprietary 2024 Forrester Digital Experience Review of Australian Mobile Banking Apps conducted between June and July 2024. Forrester reviewed 4 banks' mobile apps across 18 customer scenarios and combined this with a mobile banking app performance score from Forrester's proprietary Customer Index Survey in Australia. These findings were then combined with findings from unmoderated usability testing with 40 customers of the included brands. Forrester Research does not endorse any company included in any Digital Experience Review and does not advise any person to select the products or services of any particular company based on the ratings included in such reports.
Read the Westpac Online Banking Terms and Conditions (PDF 408KB) at westpac.com.au before making a decision and consider whether the product is right for you.
^^Priority Refinance: Only available: on eligible new Westpac home loans; on eligible home loans with your current lender; if your other lender is on the Priority Refinance process list of eligible financial institutions. Your other lender may charge you an additional settlement agent fee, as well as fixed rate home loan break costs. Loan suitability for the Priority Refinance product is determined by Westpac in conjunction with the insurance product guidelines. Priority Refinance is provided by First American Title Insurance Company of Australia Pty Limited ABN 64 075 279 908 Australian Financial Services Licence 263876, trading as First Title, an Australian general insurance company authorised by the Australian Prudential Regulation Authority. Conditions, fees and charges apply. Lending criteria apply to approval of credit products. This info doesn't take your personal objectives, circumstances or needs into account, so please consider Priority Refinance's appropriateness and read the disclosure documents for your selected loan, including the Terms & Conditions, before deciding.
Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.