In short: Getting a home loan through GNT Finance takes six steps: a free discovery call, a fact-find and document collection, lender and product comparison, pre-approval, property valuation and unconditional approval, then settlement. Most clients are pre-approved within one to two weeks and settle within four to eight weeks of finding a property. We manage every step and review your loan each year at no cost in most cases.
Buying a home is a sequence of decisions and deadlines, and most of the stress comes from not knowing what happens next. This page shows you the whole journey in order, how long each stage usually takes, what we need from you, and what is going on inside the lender while you wait.
Step 1: Discovery call
A 20 to 30 minute conversation by phone, video or at our Mickleham office. We ask what you want to do (buy a first home in Wollert, refinance in Sunbury, build in Kalkallo, add an investment property), what you earn, what you have saved and what you owe. You leave the call with a rough borrowing range, a sense of the deposit and grants you can use, and a clear next step. There is no obligation and no cost.
Step 2: Fact-find and documents
We complete a detailed fact-find, which the law requires and which lets us do the job properly. You upload documents through a secure link. The document checklist has the full list, but the essentials are:
- Photo ID (driver licence and passport, or Medicare card)
- Two recent payslips and your latest payment summary or tax return, or two years of financials if self-employed
- Three months of bank statements for every account, including savings that show your genuine savings history
- Statements for credit cards, car loans, HECS or other debts
- Rental ledger if you are renting, or council rates and a loan statement if you already own
- Visa grant notice if you are not a citizen or permanent resident
Once we have everything, we verify your income, calculate your living expenses, and confirm your borrowing power with the borrowing power calculator as a starting point and each lender's actual calculator as the real test.
Step 3: Lender and product comparison
We run your scenario through our lender panel and shortlist two or three options that fit your policy profile and goals. You receive a written comparison covering interest rate, comparison rate, fees, offset and redraw, fixed and variable splits, and what each lender is like to deal with. We explain the trade-offs in plain English and recommend one. You choose.
Step 4: Pre-approval
We lodge a full application with your chosen lender. A genuine pre-approval means the lender's credit team has assessed your income, expenses, liabilities and credit file and agreed to lend up to a stated amount, subject to a satisfactory property and valuation. It usually lasts 90 days and can be extended. With a pre-approval in hand you can bid at auction and negotiate on private sales with confidence.
Step 5: Property, valuation and unconditional approval
When you find the property, send us the contract and Section 32. We check the price against the pre-approval, order the lender's valuation, and answer any final questions the lender raises. When the valuation comes back and the lender is satisfied, you receive unconditional (formal) approval and loan documents. Sign them, return them, and the lender prepares for settlement. If you have bought subject to finance, this is the stage where we make sure the finance clause date is met.
Step 6: Settlement and beyond
Your conveyancer, the lender and the vendor's side settle electronically through PEXA. Funds change hands, the title transfers, and you collect the keys. Our settlement process guide covers the detail. After settlement we confirm your repayments are set up correctly and your offset account is working. Then, every year, we review your rate against the market and renegotiate with your lender or recommend a refinance if it will save you money.
Typical timelines
| Stage | Typical time | What affects it |
|---|---|---|
| Discovery call | Same day or next day | Your availability |
| Documents and fact-find | 2 to 5 days | How quickly you can gather statements |
| Lender comparison and recommendation | 1 to 2 days | Complexity of your income |
| Pre-approval | 2 to 10 business days | Lender turnaround, whether the application is fully documented |
| Valuation and unconditional approval | 3 to 10 business days | Valuer access, property type, any lender queries |
| Loan documents and settlement | 2 to 4 weeks | Contract settlement date, conveyancer readiness |
| Annual review | 30 minutes each year | Nothing, we contact you |
A refinance typically completes in two to four weeks from application. A construction loan takes longer because the lender also assesses the builder and the fixed-price contract; see our construction loans page.
What we need from you
- Honest, complete information at the start. Lenders find undisclosed debts, and a surprise late in the process costs weeks.
- Fast responses to document requests, especially during the valuation and formal approval stage.
- No new credit cards, car loans or buy-now-pay-later accounts between pre-approval and settlement.
- No changes to your job if you can avoid it. Probation periods and a fresh ABN complicate assessment.
- Keep paying every existing debt on time. Lenders re-check your credit file before formal approval.
What happens behind the scenes
Before founding GNT Finance, Gorakh Timilsina worked as a Senior Credit Officer, assessing hundreds of loan applications from the lender's side of the desk. That experience shapes how we prepare your file. A credit assessor is looking for three things: capacity (can you afford the repayments at the assessment rate, which is your rate plus a 3 percentage point buffer under APRA rules), character (does your credit file and account conduct show you pay what you owe), and collateral (is the property acceptable security at the requested LVR).
We build your application to answer those questions before they are asked. Overtime and bonus income is documented with a two-year history so it is counted. Living expenses are explained if they look high. Bank statements are checked for gambling transactions, dishonours and undisclosed debts. Property type and postcode are screened against lender restrictions before we choose the lender. The result is fewer questions, faster approvals and a lower chance of a decline sitting on your credit file.
Frequently asked questions
How long does it take to get a home loan in Melbourne?
From first call to pre-approval, one to two weeks is typical if you provide documents promptly. From signing a contract to settlement, most Victorian contracts allow 30 to 90 days, and lender approval fits inside the first two to three weeks of that window. Auctions are different: you need unconditional finance or a strong pre-approval before bidding because there is no cooling-off period.
Does a pre-approval guarantee I will get the loan?
No. Pre-approval is a lender's assessment of you, subject to the property. Formal approval also depends on the valuation supporting the price, the property meeting the lender's security rules and your circumstances not changing. A pre-approval from a lender that has actually assessed your documents is far more reliable than an instant online estimate.
What does using GNT Finance cost?
For home loans, nothing in most cases. The lender pays us a commission on settlement and a small trail over the life of the loan. We disclose the amounts in writing. Some commercial, private-funder or very small loans attract a fee, and we tell you before you commit.
Can I do the whole process remotely?
Yes. Discovery calls are by phone or video, documents are uploaded through a secure portal, applications are lodged electronically, identity checks can be completed by video or at a post office, and loan documents can be signed digitally with most lenders. Many of our clients across Victoria never visit the Mickleham office.
What if my application is declined?
A decline is information, not the end. We find out exactly why, fix what can be fixed (a debt paid down, a credit file corrected, a larger deposit saved) and, where a different lender's policy suits your situation, re-lodge. Because we screen lender policy before applying, outright declines are uncommon.
Talk to GNT Finance
Start with a free discovery call and you will know within half an hour where you stand and what to do next. We serve Melbourne's northern suburbs from Mickleham and clients across Victoria and Australia by phone and video, in English, Nepali and Hindi. Book a free consultation or call 0426 403 703.
Written by Gorakh Timilsina
Founder, CEO & Senior Mortgage Consultant at GNT Finance. Gorakh started as a broker assistant, spent years as a senior credit officer assessing loan applications, and now helps Melbourne families get the right loan approved. English, Nepali and Hindi spoken.