How to get a home loan quote
A home loan quote is an indicative rate, repayment and fee estimate for your situation, produced before any application and without a credit enquiry. It is the step before pre-approval, and the point at which you choose the lender rather than the lender choosing you. Here is what a quote contains, who publishes a no-credit-check estimate, and what a broker needs to give you real numbers.
- A quote is indicative and needs no credit enquiry; pre-approval is credit-assessed, involves an enquiry, and lasts about 90 days
- Great Southern Bank, Pepper Money and Liberty each publish a no-credit-check estimate or pre-qualify tool; the majors publish pre-approval timings instead
- Compare quotes on the comparison rate, fees, offset and any cashback over the years you will hold the loan, not on the headline rate
- A broker quotes across a panel of 30 to 50 lenders from one conversation; several separate applications mean several credit enquiries
- Free for borrowers: the lender pays the broker on settlement; your matched broker replies within one business day
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are calculated on a secured loan of $150,000 over 25 years for home loans, a loan of $30,000 over 5 years for car and personal loans, and $50,000 over 5 years for equipment finance, unless the lender states another basis.
What is a home loan quote?
A quote is a lender's or broker's estimate of the rate, repayments and fees you would pay on a specific loan for your specific situation: purchase price or property value, deposit, income, existing debts, and whether you will live in the property or rent it out. It is not an offer of credit and not a guarantee of approval. What it gives you is a number to plan around and a basis for comparing lenders before anyone runs a credit check.
Three things are often confused with it. A rate table is a lender's advertised rates for a generic borrower and tells you nothing about what you will be offered. A borrowing estimate or pre-qualify tool tells you how much you might borrow but not at what price. And pre-approval, also called conditional approval, is the lender's credit-assessed decision to lend up to an amount, which requires an application and a credit enquiry and which Westpac, among others, publishes as lasting 90 days. The quote sits between the first two and the last.
Does getting a quote affect your credit score?
Not if it stays a quote. A credit enquiry is recorded when an application is lodged with a lender, not when a broker prices your scenario or a lender's estimate tool runs your numbers. Great Southern Bank publishes a free pre-qualify tool with no credit checks that takes five minutes; Pepper Money publishes that its indicative rate and borrowing estimate will not impact your credit score; Liberty publishes an indicative pre-approval tool. A broker's quote is the same kind of step: a conversation and a calculation, with the enquiry deferred until you choose a lender and apply.
What do lenders publish about quotes and pre-approval?
Most lenders do not publish a "quote" as such; they publish either a no-credit-check estimate, a pre-approval process, or both. Checked against each lender's published page on 20 September 2026. Terms change without notice; confirm with the lender or your broker before relying on them.
| Lender | No-credit-check estimate | Pre-approval as published | Notes |
|---|---|---|---|
| Great Southern Bank | Free pre-qualify tool: no credit checks, no commitment, five minutes | Separate step "when you're serious about buying" | Publishes the distinction between pre-qualify and pre-approval on its own page |
| Pepper Money | Indicative rate and borrowing estimate in under five minutes; states it will not impact your credit score | Not published as a timing | Non-bank lender; assesses beyond the credit score |
| Liberty | Indicative pre-approval tool | Notes pre-approval does not guarantee a loan | Non-bank lender |
| CommBank | Not published | Apply online in as little as 10 minutes; conditional pre-approval within one day if eligible, after a specialist calls | — |
| ANZ | Not published | Start the pre-approval process in five minutes | Also offers a free property and equity report |
| Macquarie | Not published | Apply in 15 to 30 minutes | — |
| Westpac | Not published | 90-day conditional approval, also called pre-approval or approval in principle | — |
| NAB | Not published | Schedule a chat with a banker in two minutes; pre-approval as step two of its process | — |
What is in a home loan quote, and how do you compare two?
A useful quote states the interest rate, the comparison rate, the monthly repayment on your amount and term, the upfront fees (application, valuation, settlement), the ongoing fees (annual package or monthly account fees), whether an offset account is included and what it costs, any LMI if you are above 80% LVR, and any cashback. Two quotes with the same headline rate can differ by thousands of dollars a year once the package fee, the offset and the LMI are counted.
Compare them on total cost over the period you expect to hold the loan, usually three to five years before most people refinance. Add the upfront fees, the ongoing fees for the period, and the interest at each rate, and subtract any cashback. The repayment calculator turns each rate into a monthly figure; the refinancing costs guide lists the fees that move the answer.
What does a broker need to quote you?
Nothing to start, and a short list to finish. The first conversation covers what you need (buy, refinance, invest), where you are and how soon you want to act. To turn that into real numbers the broker will ask for: photo ID; two recent payslips, or two years of tax returns and notices of assessment if self-employed; three months of bank statements; statements for any existing loans, credit cards and buy-now-pay-later accounts; and the contract of sale if buying or a council rates notice and current loan statement if refinancing. Having those ready shaves days off the timeline.
How long does it take, and what happens next?
- You answer three questions. What you need, where you are, how soon.
- We refer you to one broker. A licensed broker partner whose practice fits your situation, not five brokers chasing the same lenders. They reply within one business day.
- They quote you. Real numbers from real lenders for your scenario, usually within one to three days of receiving your documents, with no credit enquiry.
- You decide. Engage them and move to pre-approval with the lender you choose, ask follow-ups, or walk away. No pressure and no charge either way.
Useful next steps
Before, during and after the quote.
Home loan quote FAQs
Is a home loan quote the same as pre-approval?
Does getting a home loan quote affect your credit score?
How many home loan quotes should I get?
Is the home loan quote really free?
How fast will I get the quote?
What documents will I need?
Do I need quotes from several brokers?
Can I get a quote without sharing personal information?
Do you offer quotes for investment loans, refinances and self-employed borrowers?
What if I get a quote and decide not to proceed?
Ready for a real quote?
Three questions get you referred to one licensed broker partner who quotes you across their panel, with no credit enquiry until you choose to apply. Free, no obligation.