Will I still be able to apply for a home loan if I’m self employed/a contractor/subcontractor?

Being self-employed or a contract worker gives you a certain amount of freedom but with it comes a unique frustration: proof of income when you want to buy a home.

In the past a home loan from the banks was simply not an option unless you could tick all the boxes – maximum assets, minimum liabilities, and proof of stable long-term income.

Luckily for Australia’s entrepreneurs, low doc loans bridge the gap between proof of income and home ownership. And we certainly have a lot of self-employed people here, with a whopping 1.2 million sole traders and 2.1 million business owners with employees.

Originally created by mortgage brokers, the low doc loan changed how self-employed borrowers were viewed by lenders, by looking at a borrower’s overall ability to service a loan rather than simply ticking off a documentation checklist.

Schedule a phone appointment with one of our specialists today to discover what options might be available for you.