Home loan application process

Thanks for submitting your home loan application with Suncorp Bank.

Here’s what’s next.

Home loan application process

Thanks for submitting your home loan application with Suncorp Bank.

Here’s what’s next.
Whether you’ve applied in person, online or through a broker, here’s what your journey could look like.

Whether you’ve applied in person, online or through a broker, here’s what your journey could look like.


1. Review

You’ve lodged your home loan application.

Your application is on its way to a Suncorp Bank assessor.

  • Our assessors will review your application.
  • They may request additional documentation to enable them to make their decision. Your lender or broker will contact you to advise you of any requests or status updates.


2. Decision

We’ve assessed your application and supporting documentation.

Your lender or broker will advise you of the decision. Potential application outcomes include:

  • Deferred – If we’re missing some information, we’ll let you know. You can work with your lender or broker to get this sorted.
  • Conditional Approval – Your application has been assessed but we’re missing information to have a final approval issued. We’ll let you know what we’re waiting on. If the requested information is satisfactory your application can proceed. For example, this could be the property valuation.
  • Final Approval – Woohoo! You’ll find out if you’ve been approved from your lender or broker, and we’ll also send a confirmation SMS.
    Your application will then progress to the loan documentation stage. There may be some conditions outlined in this documentation that you’ll need to meet prior to settlement.
  • Decline – For a range of reasons, we aren’t always able to approve loan applications. We’ll let your broker or lender know why. You can contact them for further information and what you might be able to do to improve your chances next time.


3. Loan documentation 

You’ve received Final Approval.

We’ll prepare all the loan settlement documents and send them to you via your choice of delivery methods:

  • Email – If you prefer, you can receive the documents electronically and print them yourself.
  • Post – We’ll send them to your mailing address.

On receipt of the documents, it’s important that you read them carefully and fully understand the financial obligations set out in them. You can contact your lender or broker if you have any questions.

Once you’re comfortable with everything and you’ve checked the details are correct, complete and return the documents. Then we’ll do a final review so we can progress to settlement.

How to complete your documents:
  • Electronic Signature – No printing is required; use our e-sign method to save time and paper.
  • Person – Documents can be printed out and then completed in person (wet ink).

Need help in completing your documentation? Reach out to your broker or lender who can help you through this part of the process.


4. Settlement

We’ve received your completed documents.

There are just a few more steps to get us to the finish line: 

  • Step 1 – Verification 
    We’ll review your documentation and contact you if we need anything else. When everything’s verified, we can book in your loan settlement.
  • Step 2 – Settlement
    All relevant parties will work together to arrange a convenient settlement day and time. Your lender or broker will keep you updated on your settlement timing and process.
    Suncorp Bank will issue your home loan account number via SMS and via your settlement letter.
  • Step 3 – Set up repayments
    In your settlement letter, you’ll find information about how to make repayments.At Suncorp Bank your home loan repayments will always be due on a monthly basis. Your first repayment will be due one month after your settlement date.
    You can choose to pay this amount in advance, in either weekly or fortnightly instalments, as long as it’s paid in full on or before the due date.
When to make your first payment:
  • Paying weekly – Divide the monthly amount by 4 and make your first weekly payment one week after settlement.
  • Paying fortnightly – Divide the monthly amount by 2 and make your first fortnightly payment 2 weeks after settlement.
  • Paying monthly – Make your first monthly payment on or before your first due date.

Learn more about managing your repayments, including how to set up recurring payments from Internet Banking or the Suncorp Bank App.

The home loan application journey is now complete!

While the application process may vary depending on your loan and unique circumstances, Suncorp Bank endeavours to follow it as consistently as we can.

For support with your home loan, please reach out to your Suncorp Bank lender or broker at any time.

Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Please read the relevant Product Information Document, Lending Fees and Charges and Home Package Plus Terms and Conditions before making a decision regarding any Suncorp Bank products. Fees, charges, terms and conditions apply and are available on request or on our Product Information Documents and Forms page.