27/08/2026
Prequalification isn’t just about finding out how much the bank is willing to lend you.
It gives you a realistic understanding of what you can afford, based on your income, expenses, credit profile and financial commitments.
It helps you set the right property budget, so you’re not wasting time looking at homes outside your affordability range.
It can also help you understand what your estimated monthly bond repayment could be, so you can make sure the purchase fits comfortably into your budget.
And perhaps most importantly, it allows you to identify any potential issues with your finances before you find your dream home and submit an application.
So my advice is simple:
Don’t start with the house. Start with your affordability.
Get prequalified first, know your numbers, and then start house hunting with confidence.