Guarantor Loan Calculator

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How does this calculator work?

This calculator is designed to help you work out the size of the limited guarantee and also to work out if you’re likely to have trouble obtaining approval with some lenders.

Unlike with a standard home loan, the banks all have very different policies for guarantor loans. As a result, many people approach their bank, only to be declined because of a lending guideline that doesn’t even make any sense!

This is why it’s important to find out how the banks will view your application. Applying with the right lender first time around prevents you from damaging your credit score by having too many unnecessary enquiries on your credit file.

Learn more about guarantor loans

We’ve written a comprehensive guide to guarantor loans, which explains everything from the types of guarantor loans available, to limiting the size of the guarantee and even how to borrow more than 100% of the purchase price!

We can help!

While most bank managers and mortgage brokers have only approved a few guarantor loans in their entire career, we deal with them everyday! We know exactly which lender can help, how to get your loan approved and most importantly how to set up the loan to maximise the protection for the person who is guaranteeing your loan.

If you’d like to speak to a mortgage broker who can help please call 1300 889 743 or enquire online and one of our specialist brokers will contact you to discuss your situation.

  • Monica Rutner

    Hi, I recently got PR, now I want to buy a house of my own. However, I don’t have sufficient savings of my own, and one of my friend has suggested me to try with a guarantor, and he’s even agreed to give me a guarantee.

    Will a friend as a guarantor work to obtain a home loan? Hope to have some valuable insights from you guys.

  • Hi Monica,

    Most lenders will only accept a parent as a guarantor. Some of our lenders can consider other relationships such as grandparents, siblings, extended family (aunt / uncle / cousin) and friends. Where the guarantor is not a family member the lender will do additional verification and check but it is usually not a problem.

  • jimbob

    I wanted to confirm under a guarantor arrangement whether the “Total debt secured on guarantor’s property” is the limit of liability the guarantor has on the transaction? Also at what point does this liability reach $0?

  • Hi Jim

    The total debt secured on the guarantors property is their current loan + the size of the guarantee they are providing for your home loan. If they have no debt on their property then this is just the limited guarantee they are providing for your loan.

    You need to apply to remove the guarantee, it doesn’t come off automatically. Most people do this once they owe below 80% of the property value as it avoids lenders mortgage insurance

  • jimbob


  • Dodgshun

    My bank told me that they would like to see me to have 5% in genuine savings but I don’t have any, which is exactly why I’m going guarantor in the first place. Isn’t genuine savings unnecessary when we have a guarantor?

  • Hey Dodgshun,

    Yes, genuine savings is not required in most cases, however, this isn’t set in stone so despite having a guarantor, some lenders still require you to have saved 5% of the purchase price. You can speak with one of our mortgage brokers on 1300 889 743 if you’d like help in finding a lender that can accept your loan application without any genuine savings.

  • Dodgshun

    Yes, I’d very much like that. Will be calling soon. Thanks.

  • Gina

    Hi, we want to refinance our own house to buy a block of land + the stamp duty and other fees, but the current value of our property is not enough to cover it all. If we use a guarantor would it help to increase our loan amount? thanks

  • Hi Gina,
    Yes that will work. There’s some complications with a guarantor loan that is used to build a house but as long as we set it up the right way then it is fine. If you like fill in this and a guarantor loan expert will give you a call to discuss.

  • Sam Finlayson

    I would like to purchase my 1st property. My parents have a large transport business but no property. Are we able to use the businesses assets for a guarantor loan?

  • Hi Sam,
    You’ve got two options with this. They can put up a term deposit (cash) as security for the loan
    The other option is that they get a small business loan and lend this to you as a deposit. Their business banker can do that or they can call us.
    Or maybe another relative owns property and is willing to be a guarantor?

  • Sam G


    I am looking to purchase my first property early next year. My parents have agreed to guarantee the loan, once they refinance. They would be using their home property and they do still work (they are both under 50).

    I am looking at modest properties around $150k and have just recently started a term deposit with the required 5% locked in for next 3 months. However I also have a Personal Loan with a balance of $11000 that was taken out in May 2016 (increased from prior Personal Loan).

    My question is: Will lenders make the assumption that the savings were not genuine, and were the result of the Personal Loan? The saved payments do generally increase sporadically and I would say that they did not actually come from the Personal Loan (which was used to pay off credit cards and holiday). Or because the savings are in a term deposit, the savings pattern does not matter?

    Is it better to put my 5% savings into the personal loan, reducing the balance, and starting my savings process again? I am worried that lenders will not consider my savings genuine and would prefer to have a “game plan” before I actually make the move to apply…

  • Hi Sam
    Yes many lenders will think the 5% gen savings is actually from the personal loan. Others will be ok with this. The good news is that some of our guarantor loan lenders don’t require genuine savings anyway.

    It’s best we assess your needs at the time you buy and work out if it’s best for you to use your savings to pay out your personal loan or not. Likely the best course of action is apply while your savings are in the term deposit and then after approval pay out part of your personal loan.

  • Althea Gwebraedd

    Little confused about how the loaning works for guarantor. Just as an example, if the amount I wished to borrow was $500,000 and $100,000 was secured against the guarantor property, would the repayments be on the full $500,000 loan, or the $400,000? Would the guarantor’s repayments on their own loan be affected in any way by becoming a guarantor?

  • Hi Althea,
    You would make payments on the full $500,000. The guarantor would only be asked to make payments if you were unable to make payments.
    The guarantor’s existing home loan payments would remain the same.
    If you’d like our help then please contact us

  • Carolyn Denton

    My parents are already guarantors on my investment property loan (for 130k). Their property is worth about 600k with no mortgage. Can they also guarantee another mortgage for me as an owner/occupier?

  • Hi Carolyn
    Potentially yes this is possible. It would depend on a variety of factors so it’s best to discuss this in detail with one of our mortgage brokers. We’ve done similar loans before.

  • Joanne Paroci

    Hi again
    Are you able to give me details on any broker residing in sydney south west whom are ready and willing to help us immediately?

    We’ve been getting assistance off one of your brokers but its just delaying.


  • Hi Joanne please call us on 1300889743 and ask for Maria and she’ll sort this out for you.

  • Jessie Lou Louis

    Hello we are wanting to purchase a home for $160, 000 and are wanting to ask our parents to be guarentee for us. How much must there house be worth to be accepted?? We have a few option but one if the houses is only worth $150,000 will read work as its only $40,000 that will be held on there end for the 5 yr term I believe

  • Maurinus Stander

    Hi, My partner and I want to buy a little block of land soon for about $400 000 and then build a little container home on it for less than $100 000, we both have a full time job and earn about $100 000 a year before tax together.
    What would be the best way for us to take out a loan? My parents are in the middle of paying of their house and have a very decent income, we have no dept at all, what should we do?

  • Hi Maurinus,
    You can get a guarantor loan for both the land and construction. Note that some container homes aren’t acceptable to banks so you may need to discuss this with our broker or consider building a different type of house. Many customers end up just buying an existing home because it’s much easier.

  • Sarah Veness

    Hi my husband and I are looking at buying our first property we are looking between 3-500000 mark. We have approx $12000 in genuine savings and we’re going to ask my parents if they would guarantor what would be their limit? Just so I can go into this knowing all the information thanks

  • Hi Sarah,
    It depends on how much you spend on a property, if you borrow the stamp duty as well, if you get the first home owners grant and if you use your savings or keep them aside. The maximum guarantee would be for 34% of the purchase price. More likely it would be around 28% for your situation.

  • Tullis

    My guarantor has a $650k home with no debt on it. He isn’t working and doesn’t have a super as well. Is this okay for my $380k home loan?

  • Yeah this should be okay with some banks. Some lenders may want the guarantor to be working though. You’ll need to apply with the right lender to get approved so please call 1300 889 743 if you’d like to discuss this with an expert guarantor home loan specialist.

  • Emily

    Hi so we are in abit of a tight spot.
    We have 15k deposit for stamp duty also my dad agreed to be a guarantor he is at the moment guarantor for my brother for 150k. My dad owes 90k the house value is approx minimum 400k. We are just going with the worst case scenario. Now he isnt working and a few people have said dont even try youll get decline but others are on the contrary. We are wondering if we should just try our luck and apply. The lender doesnt have a must be employed guarantor criteria. We want to purchase no more than 360k. Not sure what to do so so stuck. He is left with approx 163k equity BEFORE us.

  • Hi Emily
    The equity calculation is quite complicated when there’s already a guarantee on the property. We’d likely need to see a full application to figure it out. If your brother got his loan some time ago then it may be possible to remove the guarantee now or reduce the size of the guarantee. We’d have to assess this to work out if it’s an option.

  • Mel Clausen

    Hi there. We really want to buy we have $27000 that my mother in law has given us as part of my husbands inheritance. We are looking at a property for sale at $325000, it was knocked backed only because of the properties postcode and they will only loan a max of $300000 for that area. My parents are happy to go garantor for us. They have a property valued at $550000 with about $150000 (I think) owing. My dad has just stopped working due to having a back injury and will return to work in about 10 weeks. My mother in law will also go on the mortgage. Hubby earns around $45000 pa and mother in law earns $88000 pa. Both are working full time and have been for ages. Can we borrow?

  • Hi Mel,

    Yes, you should be able to borrow. Have you had a read of the guarantor home loans guide? If not, please do check it out for detailed information on this option:

    Our mortgage brokers specialise in guarantor mortgages and know the policies of almost 40 lenders on our panel. Please call 1300 889 743 if you’d like to discuss your personal situation and loan needs directly with one of us, or simple fill in our online assessment form for a free quote:

  • Matthehat

    Hi there.

    I intend to buy a block of land for 250k. I am an experienced architect with various industry contacts that I intend to utilise to build a modular house overseas and ship it to site for approximately 300k. This includes footings, shipping, taxes, assembly, and all other costs. I would manage the process myself but I can have a registered Aussie builder and engineer involved for sign off, certificates, etc. So I want a land and construction loan for 550k. I anticipate the place will be worth about 850k when complete. I have about 90k in shares and savings and do not wish to use this to fund anything. My mum is willing to go guarantor on the loan for me. She owns her house outright (worth about 2 million) but is retired.

    Please advise if you think it would be possible to secure a loan under the circumstances above. Thanks!

  • Hi Matthehat,
    We have lenders in our panel who can accept the retired guarantors. Please call 1300 889 743 to discuss all this in detail with an expert mortgage broker. Or you can simply enquire online and one of us will contact you instead:

  • Clinton Dicker

    Hi my n

  • Hi Clinton,
    I’d estimate they’d need to guarantee your loan for $110,000 – $150,000 depending on the way it is structured and how much you borrow.
    For construction loans it’s best to borrow as much as possible in case of the cost blowing out. Then when the house is complete you can just pay off the part of the loan that you didn’t use.
    Please make sure that you don’t 100% commit to a purchase and contract without formal loan approval. It’s a big risk! Guarantor loans can take a little extra time so ask for an extended finance clause.

  • Tara McNeany

    My guarantors home is worth over 1mil and has no mortgage on it, the owner is on disability pension and owns her house outright, could I still get approved for a $350k loan since she will be on disability pension for the rest of her life?

  • Hi Tara,
    Yes you can qualify for a loan as long as your guarantor’s disability is a physical one and we have evidence that you are good with your money such as a tenant ledger showing on time rent payments or 6 months bank statements showing you don’t overdraw your account.
    This isn’t something accepted by all lenders but there are banks that can help. Please complete this if you’d like our assistance

  • Eve

    Hi, just wondering if this would be possible – we have seen a five acre property we like with asking price $360-396k, we would need to eventually extend the house as its only 2 bedroom & we have 2 children (a boy, 3 & a girl, 1 who won’t want to share forever!) We unfortunately don’t have any genuine savings, we were going to get $50k as a gift from the in laws but unfortunately my mother in law fell ill & passed but my husband believes his (retired) father will go as guarantor, his property is worth roughly $1.1 million with nothing owing however we have a $6500 credit card (with about $6000 owing) + 2 car loans one about $21k & the other $42k. My husband earns a take home pay of around $1400 a week (ie net) & I’m a stay at home mum, unfortunately i can’t get full time care for the kids (limited care in the Victorian country town we live in) so can’t get a job at the moment, my mother lives with us (& works) & contributes to rent etc & will be living in a granny flat on the new property so will again be contributing to the mortgage, she thinks she could get around $40-50k as a contribution if needed – would any banks even consider us?

  • Hi Eve,
    Firstly you can use this calculator to see if you can comfortably afford the loan size that you’re looking for
    If your income is sufficient and your father in law is willing to be a guarantor then we may be able to assist. Your mum’s contribution should be used to pay out your existing debts and then the guarantee can be used to help you buy a home.
    This is a complex situation and we’d need all of your documents and a full application to confirm if you are eligible.

  • Aiden

    Hi, Just wondering how the limited guarantee amount is calculated? For example, if I had purchased a property of $665k. And I chose to only guarantee 20% of the purchased amount, which is $133k. How come the guarantor loan calculator shows the amount is $166,250, not $133k?

  • Good question Aiden! It’s because the lender needs the loan to be a maximum of 80% of the value of the security. For for a loan of $100,000 the lender would need $120,000 – $135,000 of security.
    There’s a full explanation somewhere on this page

  • Nathan Withers

    Hi, My wife and I would like to use her parents as guarantors to purchase a property for around $500k, borrowing the full 100%. The guarantors property is worth approximately $2.5 million and has nothing owing on it. The main issue we have is the property is 5 acres with 8 self contained units being operated on the same title as the house. The ANZ have deemed the property to be a commercial property when doing their assessment (even though the bulk of the property value is the house and land) and therefore they cannot use it for equity on the loan. Are there other lenders that may consider using this property as equity for a guarantor loan?

  • Hi Nathan,
    Yes we can assist with this. We have a lender that can accept a guarantee over a commercial property as an exception. I’ll email you and cc one of our specialist brokers.

  • Sylvester

    Hi, My partner and I are looking at buying a block of land for around 250k (first time buyers) we currently have around 20k in savings. We would be intending to build on the block in around 2 years time. In the two years we hope to pay around 100k off the loan and have the blocks value increase. We have Guarantors with assets in excess of 1.3m owing around 400k. When we intend to build we would require around another 300k from the bank to do so. So if all went to plan we would owe 150k and require the extra 300k meaning 450k loan with a house. What would be a possible scenario for our situation? Do we need Guarantors at all or for a certain period?

  • Hi Sylvester,
    You could decide to buy on your own without a guarantor now however you would pay LMI. Personally I think the best approach would be to buy now with a guarantor and set it up so that you could build later without redoing the whole guarantee. Then at the time you build if you’ve managed to pay a lot off of the loan then you can remove the guarantee at that time. If you haven’t paid off as much as you’d like you can build and then when you’ve paid the loan down a little more then you can remove the guarantee.
    Of course if you’re earning a good income at the moment then you may want to just build now with a guarantor rather than pay for the mortgage on the land and also rent for your own place as well. May as well keep it simple and build right away assuming you are ready to do so.

  • Mark Bzowy

    Morning, the missus and I are looking at a property to buy and start an egg farm or contract chicken meat. The seller wants $25000 deposit and will accept rent/buy. To start the business or get a bank loan we need to put down the $25K and this is enough for the bank and the chicken meat business to start the ball rolling. We both are unemployed and over 50. We are currently renting a small acre block. The local council Will only approve an amount smaller than we need. We want to own the land asap. The daughter and son in law own the block we currently rent. Could they be guarantors for our larger property??

  • Hi Mark,
    Yes your daughter and son in law can be a guarantor if they have a lot of equity in their property. However the issue here is that you are combining too many things that are a concern for a bank in one application. We’ve written an article on this here
    The combination of:
    – Low deposit
    – Guarantor
    – Close to retirement age
    – Commercial farm
    – Income from a proposed business
    It’s all too much when combined unfortunately. The best way forward is if you simplify what you are doing to make it more palatable for the banks. E.g.
    – Daughter buys the property instead
    – Find jobs and then buy the property
    – Find another property that isn’t a farm (hobby farm is ok).
    I hope that helps and good luck.

  • Benjamin David Cross

    Hi, looking to buy our first investment property. we have approx $18,000 in equity up to 80% on our owner occupied property. My parents, still working, own $850,000 property with $150,000 owing. What’s the max amount my parents can go guarantor and just to be sure, what would be my max purchase price in thi scenario

  • Hi Ben,
    Based on your parents equity alone it is possible for you to buy a property up to $1.1m. However it’s likely that other factors may limit the amount that you can borrow such as your income. We also need to see if such a large guarantee is appropriate given your parent’s financial circumstances.
    Lenders often don’t like people buying multiple properties using a guarantee, many see it as a way for a first home buyer or first time investor to enter the property market. However we have recently helped a few investors to buy their 2nd property using a guarantor loan where their parents were in a good financial position. I’ll email you and cc the broker in our team who recently got this approval. If you’d like their help then please email them with your best contact ph#.

  • Lucifer

    I’m applying for a home loan and my mom has agreed to provide me a guarantee. But she isn’t sure of her credit score. Does it matters in my loan application?

  • Hey Lucifer, most lenders don’t do any credit checks for guarantors because their score doesn’t matter for your application. The lenders want to make sure guarantors have the required share in their property. Also, it is the applicant(s) who will be making the repayments, they tend not to be bothered much about the credit score of the guarantors. So, make sure you apply with a lender that doesn’t do any credit check on guarantors. Please call us at 1300 889 743 if you want to discuss this with one of our credit specialists.

  • Richard Crewe

    Hi. My daughter would like to buy a house around 300,000 she has a stable job but no deposit. we would like to try and help by going guarantor. Our house has been valued by the local agents at 800,000 and we owe 200,000. would she still be able to get a loan. Richard

  • Hi Richard
    Yes this would be fine. I’ll email you and cc one of our guarantor loan specialists.

  • Heidi Bullimore

    Hi I’m looking into a guarantor loan of 100%
    I have about 3000
    But would like to consolidate a small personal loan
    My parent own their home and vehicles
    The amount I’m looking at lending it 320000
    Is this possible

  • Hi Heidi
    Yes this may be possible. Consolidating a debt can be acceptable sometimes, it depends on many factors. I’ll email you and cc one of our guarantor loan specialists who can assist you further.

  • Tracey Tulloch

    Hi, my husband and I are interested in purchasing the Leasehold on a Motel. Looking to borrow 100% using parents as guarantor. The purchase price is $360,000 and parents have approximately $60,000 in equity. What are our chances?

  • Hi Tracey
    This wouldn’t work, there isn’t sufficient equity in your parent’s property and buying a business with a guarantor is very risky. Banks only consider it if your parents are in a very strong financial position (e.g. >$2m net worth) or if they are an owner in the business themsevles.

  • Phillip Campbell

    Hi, I am looking to buy my 1st home with my parents as guarantors, I have 0 savings and there property is around the $200k mark with $70k owing, I am looking to borrow between $400-$600k, Is it possible?

  • Hi Phillip,
    Your parents don’t have sufficient equity in their home to be able to help. They could refinance their home and increase it and then lend you a deposit. It’s an alternative structure that isn’t for everyone, but it can work. We’d need to do a full assessment to make sure that you could afford payments on both loans and that if you weren’t to make any payments on your parents portion then could they make the payments without hardship.
    You may want to consider saving some funds as this will assist you to buy as well.

  • Zach Noble

    Good afternoon.
    I am looking to purchase my first home. Value of the home i am looking at is between $360,000 and $365,000. I currently have $20,000 in savings. I am hoping to have my parents down as my guarentor, they have a home valued at $950,000 owing $630,000. Please let me know my current options. Thanks.

  • Hi Zach,
    There’s a possibility that this could work, it would all depend on your parents valuation. A 2nd option is for us to refinance your parents home and then they can lend you a deposit. I’ll email you and cc one of our mortgage brokers who specialise in this area.

  • Jessica Hanks

    Hi, I am looking at purchasing a property for about $350,000 and have $0 deposit and savings but do pay about $1900 a month in rent. My parents are looking at being guarantor for me, their house is worth $650000 and they have $400,000 owing. Would this be possible at all?

  • Hi Jessica,
    It’s a close one. Our calculator above says no however I expect we can do this as long as your parents property values at $650k and above and they are working.
    Alternatively we can refinance your parents loan and increase it slightly. They can then lend this to you as a deposit. It’s similar to a guarantor loan, just it’s a different structure.
    I’ll email you and cc a guarantor loan specialist.

  • Also you must not have a significant amount of other debts.

  • Bess Kilpatrick Mason

    HI There,
    I we are looking at buying a house for 55000 with a 20% deposit saved, 440000 mortgage.
    My parents own a property worth 700000 freehold and they have already guarantored my brother 90000. They e both working. Will that be pretty straight forward to gurantor? They say it has a lot do with earnings as well as equity, My dad would be on around 150000 per year.

  • Hi Oliver,
    Yes this should be ok. Some lenders will not accept a 2nd mortgage behind another guarantee but others are ok with it. I’ll email you and cc one of our specialists in guarantor loans. Best of luck with your purchase.

  • Jo


    So we are looking at a property that is actually made up of two units. They are asking $870k and we currently have $105k in savings.

    We would be renting out the 2nd unit on the property for $400 per week. Our combined income is around $170k

    We also have a potential guarantor. There home is worth around $400k and they owe around $200k. Both parents still working with an income of around $130k.

    Do you think this would be possible for us to do? We are first time home buyers, but think we will be outside any thresholds for stamp duty exemption or anything other first home owner offers at present.

    Any info would be much appreciated
    Thank you, Jo-Ann

  • Hi Jo-Ann
    A guarantor loan is unlikely to be suitable as your guarantor doesn’t have significant equity in their property. However it may be an option with some of our lenders. We’d have to run the figures to be sure and also to complete a valuation of their property.
    Two units on one title is acceptable to most (but not all) lenders. Some can do home loan rates even though you are renting out part of the property.
    I’ll email you and cc a mortgage broker who specialises in this area of finance. They’ll figure out the best way forward.

  • Anne

    My sister is looking to buy her first home for $650k and she has 30k in savings. Her salary is 50k. Since she doesn’t have 20% deposit, can I guarantor her loan?
    My property is worth 1.15mil (bank evaluated figure July 2017) I owe 700k. I work full time.
    Is this possible? Any advice would be greatly appreciated. Thanks.

  • Hi Anne,
    Yes this is possible however many lenders don’t accept a sister as a guarantor.
    We can either set you up with a guarantor loan or you can refinance your loan and lend your sister a deposit. I’ll email you and cc a specialist in guarantor loans.

  • That_Rick_Guy

    i am a single parent of 2 looking to purchase our first home (the one we live in actually. it is up for sale for $250,000). i have zero deposit (no savings) and a blemish on my credit report. i have over 12 months of rental payments paid on time and a secure 85k+ full time job that i have had for 4 years. i feel my only option may be to approach my parents as guarantor. what option do i have?

  • Hi Rick,
    Many lenders require you to have 5% of the purchase price in genuine savings even in the case of guarantor loans. On top of that, the type of issue on your credit report may also determine the chances of a guarantor loan.
    We have some lenders on our panel who don’t have genuine savings policy and can lend you with low savings.
    Call us on 1300 889 743 or fill our assessment form to find out more about a guarantor loan.

  • Steph Z

    My partner and I would like to buy our first home together. We are looking at a property that’s got a value of $400,000 and we have $3,000 in savings but would like to use his father as a guarantor. His father has $0 owing on his property which has a value of $400,000.. Would this be possible for us?

  • Hi Steph,
    Yes, you guys can use your partner’s father as a guarantor. Please note that few banks require genuine savings even in case of a guarantor but luckily there’re a couple of them who don’t require your savings. So, the key is to apply with the right lender. So, call us on 1300 889 743 or enquire online and find about your lender options.

  • jazza


    Im curious to know how my partner and I would go with getting a house with me earning about 30k per year and her on around 25k per year with one dependant. we don’t have a deposit at the moment but should have about 5k in july.

    the houses we were looking at is had one under $300,000 or there is a fixer-uppa for $100,000 but that would require significant investment to make it liveable

  • Andrea Cooper

    Hi the house I wish to buy is $260,000 My income is approx 55k annual. I have one dependent. My parents investment property is worth 900,000 which they own outright. They own the home they live in too worth same. I have $20,000 in savings and parents have agreed to be guarantor. Waiting for the pre approval paperwork .. but I want to make offer on the house now .

  • Hi Andrea,
    Please contact your mortgage broker or the bank to know when your pre-approval will be sent. Typically, it can take up to 3 business days for standard applications and up to 7 business days for complex applications. Lenders have different turnaround time on the pre-approval process. The more complex your situation is or higher the risk associated with your application, the longer lenders will take to assess your application. You can learn more about pre-approvals here: