SELF EMPLOYED HOME LOANS FOR
THOSE WHO DREAM BIG!
If you’re a self-employed individual with big dreams of owning a home, we can help you make it a reality with self employed home loans. Our expertise in securing self-employed home loans will help you secure the best options for you and guide you through the process and conditions.
Run a business and need to secure a home loan?
Being self employed means different things to different people. For some, it’s about working flexible hours; for others, it’s about having their own business. Whatever your situation may be, there’s no reason why you should miss out on great opportunities to secure a self employed home loan Australia.
Stryve Finance is your first choice for self employed home mortgage
We get it — your options for getting the best self-employed home mortgage deals on the market may seem limited as a self-employed borrower. Not to mention, banks and lenders usually see self-employed Australia folks as high risk borrowers, hence making the application process for a loan for self employed especially hard.
But we got your back. Here at Stryve Finance, our team of home loan experts offers a streamlined mortgage process for self-employed borrowers looking to buy their dream home and getting a loan.
We help the self employed get the best home
loan for their specific needs.
Getting a loan from the bank may look like a tough and never-ending cycle of paperwork. But since your experience is paramount to our business, we make sure to only deal with the best banks to get self-employed home mortgage deals that truly resonate with your financial situation.
Stress-free application
We provide simple, fast, and seamless borrowing experiences for our clients.
Most competitive rates available
We work tirelessly to ensure our clients get the most competitive home loan rates and secure the best possible deal for your unique circumstances.
Experts at self employed loans
Our team of expert finance brokers are dedicated to helping clients secure the self-employed home loans they need.
Your own dedicated financial advisor
We carefully take into account to your needs and tailor our services to your unique situation.
Access to a wide panel of lenders
We have a panel of over 30 banks to negotiate competitive rates, fees, and terms on your behalf.
No obligation and no cost service
Get matched with the best lenders on demand for absolutely FREE.
‘Client for life’ approach
We’re committed to working with you long-term to ensure your financial goals are achieved.
Get the toughest loans approved
We’ll go the extra mile to get the loan you deserve, even if it’s a tough one.
Get your paperwork sorted
We understand the tedious nature of the home loan application process. That’s why we take care of all the necessary paperwork for you for a seamless and stress-free process.
Taking the time to understand your business
Applying for a self employed home loan isn’t always easy. The self-employed don’t always offer the financial stability a lender looks for in a borrower and as such and most of the time you’ll need to provide two years’ worth of tax returns and letters from your accountant before most lenders will even consider you.
We have put in place a simple and easy application process to ensure that your experience with us is stress-free.
Apply for your self-employed home mortgage online!
Below are steps to apply for a home loan online:
Check your eligibility
Before applying for a self employed home loan, you should check if you meet the eligibility criteria set by the lender. This may include things like having a good credit score, stable income, and appropriate documentation to prove your self-employment.
Gather documentation
As a self-employed borrower, you will typically need to provide more home loan requirements than someone who is employed by a company. This may include things like tax returns, business financial statements, bank statements, and proof of income.
Compare lenders
It’s important to compare different lenders and their products to find the best self employed home loan for your needs. Look for lenders that offer competitive interest rates, flexible repayment terms, and a range of features that suit your individual circumstances.
Make an application
Once you have found a suitable lender and product, you can begin the application process. This will typically involve filling out an application form online and providing all the necessary documentation to support your application.
Await approval
After you submit your application, the lender will assess your eligibility and the documents you have provided. They will also conduct a credit check and may require additional information or clarification from you. The approval process may take several days to several weeks.
Obtain a loan offer
If your application is successful, the lender will provide you with a loan offer that outlines the terms and conditions of the loan, including the interest rate, repayment schedule, and any fees and charges.
Accept the offer
If you are happy with the loan offer, you can accept it and proceed to settlement. You may also want to seek legal advice at this stage to ensure you understand all the terms and conditions of the loan.
Settlement
Once you have accepted the loan offer, the lender will arrange settlement, which is the process of transferring the funds to you or your solicitor to complete the purchase of your property.
Low and No Document Home Loans
Low and no document home loans are ideal for self-employed individuals who may have difficulty providing traditional documentation of their income and liabilities. These types of loans are designed to reduce the amount of paperwork needed to prove income and are a great option for entrepreneurs and business owners who have difficulty verifying their income.
Low and no document home loans usually come with higher interest rates and require larger down payments than traditional mortgages, but can provide a great opportunity for those who have difficulty providing traditional paperwork.
What are low doc home loans?
A low doc home loan is for borrowers who do not have the standard documentation for a traditional mortgage application. It is designed for investors and self-employed individuals that cannot provide the full two years of tax returns and financial statements requisite in a standard home loan application.
What are no doc home loans?
No doc home loans, also known as low-doc or no-documentation home loans, are a type of home loan that is designed for self-employed or freelance individuals who may have difficulty providing traditional documentation of their income, such as tax returns or financial statements. Instead, these loans rely on alternative forms of income verification, such as bank statements, to assess the borrower’s ability to repay the loan. No doc home loans often come with higher interest rates and may require a larger down payment than traditional home loans to offset the higher risk for lenders.
Not enough documentation?
We understand your need for quick, simple and easy self employed home loans. Trust that our self employed mortgage broker will do the heavy lifting by managing the paperwork from application through to settlement.
Why work with us
At Stryve Finance, we take a ‘client for life’ approach, meaning we’re committed to working with you long-term to ensure your financial goals are achieved, whether it’s your first home or investment. Our team will listen carefully to your needs and tailor our services to your unique situation. We’re here to guide you every step of the way, from assessments and expert advice on choosing the right loan to getting the toughest loans approved.
FAQs on Self Employed Home Loans Australia
Is getting a home loan when self employed worth it?
It is true that some lenders and banks complete a more thorough evaluation of applications from self-employed borrowers, but that is the gap we want to help you bridge. We have access to a wide range of lenders and financial institutions that treat clients like yourself more favourably, and we make sure your experience with us makes all the hard work worthwhile.
How to get a home loan if self employed?
Getting loans for self employed can be quite challenging even with regular income. You will need to provide more documentation and look beyond the big banks for tailored finance solutions. Our award-winning property and asset finance specialists will be more than happy to give you the guidance and expertise you need to obtain the right self employed loan for you. Give us a call on 1300 202 285.
What are the requirements for home loan Australia?
Depending on the lender, you may need to provide the following documentation:
- Two years tax returns
- Two years tax assessment notices
- Business bank statements
- Evidence of ABN registration for 6 months
- Evidence of GST registration for 6 months
- Declaration of financial position (i.e., proof of self employment/ business income)
- Business activity statements (BAS)
- Accountant’s letter
- Net profit before tax
- Director wages/salaries
- Addback of Depreciation
- Addback of Interest on debts being refinanced
- Addback of Superannuation contribution in excess of 9.5%
- Interest & Dividend income
What is a comparison rate home loan?
A comparison rate home loan is inclusive of the interest rate and certain fees and charges relating to a loan. It represents the true cost of a home loan and is aimed at helping borrowers determine the home loan that is right for them as they take into consideration all the costs surrounding a home loan.
How much deposit do I need for a home loan for self employed?
Lenders typically finance up to 95% of the purchase price to borrowers who have been self-employed for two years and up, so that leaves you with 5% of the purchase price to save as your deposit. If you are self-employed for less than a year, you may borrow up to 80% of the property value. You can talk to us so we can help you work out how much you could borrow.
How long do I need to be self-employed to qualify for a home loan for self employed?
The eligibility set by most lenders requires borrowers to be self employed for a minimum of 2-3 years. If you are self employed for less than two years, don’t worry! Talk to us today and we will help you determine how much you could borrow and get started with your self employed home loan application.
How do lenders calculate my income?
Your past tax returns are indicative of the stability of your business, in the eyes of most lenders. They might even use the lowest of your income figures for the last two years. But there are other financial institutions that take a more holistic approach, and that is where we can step in to help. We will determine for you which information to provide to help prove the highest possible income (e.g., business activity statements (BAS), a printout of Australian Taxation Office(ATO) tax portal, and 3-6 months’ worth of bank account statements). We can also help you with this through our self-employed home loan calculator.
What are the pros and cons of a low doc home loan?
The pros of a low doc home loan include greater flexibility and fewer documentation requirements. However, the cons include higher interest rates and fees, a higher deposit, and the potential for the loan to be deemed unaffordable or unsuitable by the lender.
Can self-employed individuals get fixed-rate home loans?
Yes, self-employed individuals can get fixed-rate home loans. Fixed-rate home loans offer the security of a fixed interest rate for a set period of time, which can help self-employed borrowers with budgeting and planning.
What are the pros and cons of an interest-only home loan?
The pros of an interest-only home loan include lower repayments in the short term and greater flexibility for investors. However, the cons include higher overall interest costs and the potential for negative equity if the property value decreases.
Can I get a self-employed home mortgage if I'm a sole trader?
Yes, sole traders can apply for self-employed home loans. However, you’ll have a slightly different home loan criteria. You’ll need to provide documentation that demonstrates your income, expenses, and financial position, which may be more difficult for sole traders who don’t have a separate business structure.
More tools to help you
Articles to understand the process of applying for home loans:
Already own your first home? Try refinancing your home loan.
See what our clients have to say about us
“I have dealt with a few banks and brokers during the course of a couple of mortgages. The experience I had with Dylan trumps all former experiences. He offers choice and guides you through the process. He takes away the headache and stress associated with mortgages and constantly keeps you updated. Dylan takes best customer practices to a whole new level and I seriously cannot thank him enough. If you're thinking about a mortgage or refinance - Dylan's your man - simple!``
Donna,
NSW“I could not fault Dylan throughout the entire experience working with him. Both husband and I are very new to the world of refinancing and home loans, etc and Dylan was so incredibly patient and clear with all information and options. He was incredibly professional, responsive and friendly and made the entire experience so easy. I will definitely be working with Dylan again in the future. Highly recommend working with Dylan to get you the best deal as painlessly as possible!``
Jordan,
ACT“Dylan was absolutely fantastic to work with, made our remortgage and investment property loan run seamlessly. Always contactable even during January holidays and Covid. Always gives 100% and attention to detail early on made the process less stressful and gave us confidence.``
Kristy,
NSW“Being a first home buyer can be a nerve-racking minefield but Dylan Bertovic from Stryve Finance made the whole process feel smooth. He checked-in regularly over a two year period (off the plan purchase) and was confident, clear and friendly in his approach. Dylan was a clear leader when other brokers failed to deliver. He was most definitely the most pleasurable person to deal with compared to everyone else in the experience. Also still managed to get us a very competitive rate considering our extremely tricky situation. He made our dream happen and for that we could not thank or recommend him enough!``
