Overview of Self-Employed Home Loans

The working landscape of Australia has changed majorly over the past few years with more and more people starting some new venture of their own. By being self-employed, these people are able to enjoy several benefits such as increased earnings, job security, better chances of future growth, etc. The one benefit that these people used to miss was their ability to buy their dream home or purchase an investment property. But now, availing this benefit is also made possible with the help of self-employed home loan in Australia.  


This scheme is designed for the self-employed professionals such as doctors, lawyers, chartered accountants, engineers and non-professionals such as traders who wish to acquire a loan to finance their house or property. Under this scheme, any self-employed individual in Australia can apply for home loans individually or jointly. The documents required for the self-employed loan are simple. The only criteria required to be satisfied for people applying to these loans is to have a good credit history and the ability to satisfy the lender's terms.   

Benefits of self-employed home loans 

The benefits offered by self employed home loans include: 

  • Perfect choice for the self-employed people 
  • It has a simple application process  
  • Allows borrowing up to 80% of the property value and paying no mortgage insurance 

Documents required for self-employed home loans 

While applying for a self-employed home loan, the following documents are required to be submitted in order to get approval for the loan: 

  • ABN: The borrower must have an ABN (Australian Business Number) and/or Certificate of Incorporation. 
  • Income declaration: Borrowers must provide a signed document verifying their income since lenders require proof that their borrower can afford the repayments. 
  • Business activity statements: It is important to provide BAS (Business Activity Statements) of the borrower from the last 6 to 12 months. These must be verified by the ATO.
  • Have a significant deposit: The maximum amount a borrower can borrow on a Low Doc Home Loan is 80% of the property value.
  • GST registration: Confirmation that the borrower has registered for GST that meets the minimum turnover levels. 

Experts Advice on Self-Employed Home Loan by Your Finance Advisor  

Your Finance Adviser is a reputed finance advising company having a team of the best home loan broker in Sydney, Australia. We specialize in providing home loan advice to people to fulfill their dreams of owning a home in Australia. We can guide you in getting the perfect home loan that fits into your budget. Our team will assist and guide you thoroughly about both the self-employed home loan and help you in understanding the loan's features and eligibility criteria.      

For more information, contact us at info@yourfinanceadviser.com.au.