Self employed home loan

  • More & more people self-employed
  • Lenders understand self-employed needs
  • Loans for most situations
  • Excellent range of features available
  • Competitive interest rates
  • Borrow up to 97%
  • Special considerations
  • Specialist loan brokers

More people are working for themselves these days than ever before, and just because you are self-employed, this doesn't mean that you have to pay higher interest rates or can't get a great range of features in your new loan.

We understand that business operators may experience uneven cash flow, irregular savings history, fluctuating income and have delays in lodging tax returns - and that these things don't have to be a barrier to getting a home loan.

It really is a lot easier than ever before to get a loan, and there are many lenders willing to work through all risk profiles. There are a number of loan options, including low-doc and no-doc loans which involve you signing a declaration that states your annual income instead of providing tax returns.

We know that being your own boss means that you are busy, so contact us now to let us do the work for you in finding the right loan, you might just be surprised at what is available!

Self employed for at least 2 years

If you have been self employed for at least 2 years and your tax returns show a taxable income sufficient to pass the lenders serviceability requirements, you should generally be able to attain a loan from most traditional lenders, such as the major banks, up to 97% of the property value. To get access to the best loan terms a 20% deposit is required.

You will need to supply 2 years of accountant prepared tax returns, BAS, or ATO assessments. Most lenders will normally take the average of your last 2 years taxable incomes assuming the taxable income for each year doesn't differ by a large amount.

Most lenders require you to have an ABN number that is at least 2 years old. For more information on what you need to provide, see What Documents Do I Need?

Self employed for less than two years

Loans are still available even if you have less than 12 months business/trading history, or if you are about to start a new business. Most lenders will provide a loan to you up to 80% of the property value, and possibly more on a case by case basis. Mortgage insurers usually expect at least 2 years of self employment to attain loans higher than 80%.

A higher interest rate may initially be incurred, but once you have a trading history you will be able to refinance into a cheaper traditional loan.

You will need to supply an accountant certificate or prepared tax return. For more information on what you need to provide, see What Documents Do I Need?

Self employed for a short time only

You may be able to borrow up to 65% of a property value without proof of income and without disclosing your assets and liabilities or your income amount. An ABN number is required. Due to the recent financial markets crisis, this type of loan has become much more difficult to attain, but each application is treated on its merits.

With hundreds of different loan products in the market from all lenders, it can be a daunting time to go shopping for a home loan if you are doing it yourself or don't know what to look for. The benefits of why you should use a professional Time Finance Mortgage Broker are guaranteed.

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Depends on the size of your deposit, the value of the property, and your servicing capacity (based on your income and how much you are able to repay).


Most mortgage lenders will require a deposit of 20% or more of the property price. Less may be required however will require mortgage guarantee insurance in most cases


Depends on the type of loan, intrerestr rate, payment term, and whether you pay monthly or fortnighly. Use us mortgage calculators to guide you.


Every state is different and may depend on the value, whether you are building or buying an established home. Read more in our FHOG article


It is a rate that includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure that lets you compare loans from differengt lenders on a fair comparison.


This 'in principle approval' is usually valid for 3 months. Gives you the confidence on how much you can borrow before your purchase a property.


The cost of Stamp Duty varies between States and Territories. Subject to your personal loan circumstances, the cost of stamp duty can be included in the loan amount you borrow.

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