diff --git a/pcsx2/GS/Renderers/HW/GSTextureCache.cpp b/pcsx2/GS/Renderers/HW/GSTextureCache.cpp
index 55e0e0f92c..321bcab14a 100644
--- a/pcsx2/GS/Renderers/HW/GSTextureCache.cpp
+++ b/pcsx2/GS/Renderers/HW/GSTextureCache.cpp
@@ -2471,9 +2471,9 @@ bool GSTextureCache::PreloadTarget(GIFRegTEX0 TEX0, const GSVector2i& size, cons
 						break;
 
 					const u32 transfer_end = GSLocalMemory::GetUnwrappedEndBlockAddress(iter->blit.DBP, iter->blit.DBW, iter->blit.DPSM, iter->rect);
-
+					const u32 transfer_start = GSLocalMemory::GetStartBlockAddress(iter->blit.DBP, iter->blit.DBW, iter->blit.DPSM, iter->rect);
 					// If the format, and location doesn't overlap
-					if (transfer_end >= TEX0.TBP0 && iter->blit.DBP <= rect_end && GSUtil::HasCompatibleBits(iter->blit.DPSM, TEX0.PSM))
+					if (transfer_end >= TEX0.TBP0 && transfer_start <= rect_end && GSUtil::HasCompatibleBits(iter->blit.DPSM, TEX0.PSM))
 					{
 						GSVector4i targetr = {};
 						const bool can_translate = CanTranslate(iter->blit.DBP, iter->blit.DBW, iter->blit.DPSM, iter->rect, TEX0.TBP0, TEX0.PSM, TEX0.TBW);
@@ -2545,6 +2545,9 @@ bool GSTextureCache::PreloadTarget(GIFRegTEX0 TEX0, const GSVector2i& size, cons
 					}
 				}
 
+				// It's possible some games (like Valkyrie Profile 2) will dirty an area outside of the valid area, which we don't care about.
+				eerect = eerect.rintersect(newrect);
+
 				if (!eerect.rempty())
 				{
 					const GSVector4i save_rect = preserve_target ? newrect : eerect;