Self Employed Home Loans Made Simple
Your business success shouldn't limit your homeownership dreams
Getting a home loan when you're self-employed can feel like navigating a maze of paperwork and rejections. At Mason Finance Group, we understand the unique challenges business owners, sole traders, and contractors face when applying for home loans. We've spent years building relationships with over 60 lenders who understand self-employed income, making your path to homeownership clearer and more achievable.
- Specialist knowledge of self-employed lending criteria across 60+ lenders
- Streamlined documentation process tailored for business owners and contractors
- Fast Track assessment options to get you pre-approved quickly
Understanding Self Employed Home Loans
When you're self-employed, traditional home loan applications often don't reflect your true financial position. Banks typically prefer the predictability of PAYG employment, but that doesn't mean homeownership is out of reach.
Self employed home loans are specifically designed for:
- Sole traders with an ABN
- Company directors and shareholders
- Contractors and freelancers
- Business owners with variable income
- Those with complex income structures
The key difference lies in how lenders assess your income verification. Rather than relying solely on payslips, lenders consider your business financials, tax returns, and Notice of Assessment to build a complete picture of your earning capacity.
Who Qualifies for Self Employed Home Loans?
Eligibility Requirements
Most lenders require you to have been self-employed for at least two years with consistent income. However, some lenders offer more flexible criteria:
Standard Requirements:
- Valid ABN (Australian Business Number) for 2+ years
- Two years of tax returns and Notice of Assessment
- Business Activity Statements (BAS)
- Accountant-prepared financial statements
- Bank statements showing business income
Alternative Documentation Options: Some lenders accept low doc home loans with:
- Accountant's letter confirming income
- Bank statements (business and personal)
- BAS statements
- Asset and liability statements
Business Structures We Help
- Sole traders: Direct ABN holders with personal tax returns
- Companies: Directors with company financials and personal guarantees
- Trusts: Beneficiaries with trust distributions and supporting documentation
- Partnerships: Partners with partnership returns and individual assessments
The Self Employed Home Loan Process
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1. Initial Consultation
We discuss your business structure, income patterns, and homeownership goals. This helps us identify the most suitable lenders and loan products for your situation. -
2. Income Assessment
Our team analyses your business's financials and tax history to determine your borrowing capacity. We consider seasonal variations and growth trends that traditional assessments might miss. -
3. Lender Matching
With over 60 lenders in our network, we match you with those who understand your industry and business model. Some lenders specialise in specific business types or offer Fast Track assessment for self-employed applicants. -
4. Application Preparation
We prepare your application with all the required documentation, ensuring it meets each lender's specific criteria. This includes presenting your income in the most favourable way possible. -
5. Pre-Approval
Once approved, you'll receive pre-approval valid for 3–6 months, giving you confidence when house hunting and negotiating with vendors. -
6. Settlement
We manage your application through to settlement, keeping you informed of progress and handling any additional requirements that arise.
Required Documents for Self Employed Home Loans
Essential Documentation
Personal Documents:
- Driver's licence and passport
- Recent payslips (if you also have PAYG income)
- Bank statements (3-6 months)
- Credit card statements
- Existing loan statements
Business Documents:
- ABN registration certificate
- Two years of personal tax returns
- Two years of Notice of Assessment
- Business Activity Statements (last 2 years)
- Profit and loss statements
- Balance sheet (if applicable)
- Accountant's letter verifying income
Property Documents:
- Contract of sale (if purchasing)
- Property valuation
- Building and pest inspection reports
- Council rates and strata statements
Streamlining Your Application
We help organise your documentation before submission, ensuring your application presents your financial position in the best possible light. Our experience with self-employed applications means we know exactly what each lender requires, reducing delays and improving approval chances.
Loan Options for Self Employed Borrowers
Variable Rate Loans
Offer flexibility with features like:
- Offset accounts to reduce interest
- Unlimited additional repayments
- Redraw facilities
- Rate changes that can work in your favour
Fixed Rate Loans
Provide certainty with:
- Locked interest rates for 1–5 years
- Predictable repayments for budgeting
- Protection against rate rises
- Peace of mind for business planning
Split Loans
Combine the benefits of both:
- Fix part of your loan for certainty
- Keep a part variable for flexibility
- Hedge against interest rate movements
- Customise the split to suit your needs
Low Doc Home Loans
Designed for self-employed borrowers with:
- Reduced documentation requirements
- Faster approval processes
- Alternative income verification methods
- Suitable for complex income structures
Interest Only Options
Can help with:
- Lower initial repayments
- Improved cash flow for the business
- Investment property strategies
- Transition periods in your business
Why Choose Mason Finance Group for Self Employed Home Loans?
Specialist Expertise
We understand the challenges self-employed borrowers face. Our team has extensive experience with complex income structures, seasonal business variations, industry-specific lending requirements, and alternative documentation pathways.
Extensive Lender Network
Our relationships with 60+ lenders include major banks with self-employed programs, specialist non-bank lenders, credit unions and building societies, and lenders offering Fast Track assessment.
Personalised Service
Every self-employed situation is unique. We provide tailored lending solutions, one-on-one guidance throughout the process, regular communication and updates, and support from application to settlement.
Proven Track Record
With over 900 five-star Google reviews, we've helped countless self-employed borrowers achieve homeownership across Queensland and beyond.
Helpful Calculators
Knowledge empowers better financial decisions. Use these tools to understand your borrowing capacity and potential repayments:
Frequently Asked Questions
How much deposit do I need as a self-employed borrower?
Most lenders prefer a 20% deposit to avoid Lenders Mortgage Insurance (LMI). However, some lenders accept deposits as low as 5–10% for self-employed borrowers with strong financials. We can help you explore options, including family guarantees to reduce your deposit requirements.
Can I get a home loan if I've only been self-employed for one year?
While most lenders require two years of self-employment history, some specialist lenders consider applications with 12–18 months of trading history, especially if you have strong financials and relevant industry experience. We can identify these opportunities for you.
What if my income varies significantly from year to year?
Lenders understand that self-employed income can fluctuate. We help present your income in the most favourable light by highlighting trends, seasonal patterns, and growth trajectories. Some lenders average your income over two years, while others focus on your most recent year's performance.
Do I need an accountant to prepare my financial statements?
While not always mandatory, accountant-prepared statements significantly strengthen your application. They provide credibility and ensure your financials are presented in the format lenders prefer. We can recommend experienced accountants who specialise in loan applications.
Can I include my business assets in my application?
Yes, business assets can strengthen your application by demonstrating your overall financial position. This includes business equipment, stock, property, and other valuable assets. We help present these assets effectively to support your borrowing capacity.
What interest rates can I expect on self employed home loans?
Interest rates for self-employed borrowers are generally competitive with standard home loans, especially if you have strong financials and an adequate deposit. Some lenders offer the same rates as PAYG employees, while others may have slight premiums. We compare rates across our entire lender panel to find you the best deal.