Self-Employed Home Loans
There’s a persistent myth that getting a home loan for self-employed applicants is harder, slower, or less likely to succeed than for salaried employees. That’s not really the problem. The real issue is that some brokers don’t know which lenders assess self-employed income fairly.
At Woodrow Finance, our mortgage broker for the self-employed team in Brisbane works with sole traders, company directors, trust holders, and business partners every week. We know how to read your financials, structure your application, and choose the lenders whose assessment criteria actually work in your favour.
We compare across 50+ lenders to get you the best rates
How Lenders Assess Self-Employed Income
Understanding how lenders view your income is the first step toward a successful application. It differs from how a salaried employee is assessed, but it’s not complicated once you understand the framework.
Full-Doc Applications: The Standard Pathway
Most self-employed mortgage applications go through a full-documentation process. Here’s what lenders typically want to see:
- Two years of personal tax returns and Notices of Assessment (NOAs)
- Two years of company or business financials (profit and loss statements, balance sheets)
- BAS (Business Activity Statements) for recent periods
- Bank statements to support income claims
Most lenders will average your income across two years. Some will use the most recent year; if your income is trending upward, it is lender-specific, and one of the reasons choosing the right lender matters so much. Our self-employed home loan team knows which lenders apply the more favourable approach.
Low-Doc and Alt-Doc Applications
If you’ve been trading for less than two years, or your business structure makes traditional documentation complex, a low-doc (or alternative-doc) pathway may be available.
This typically uses:
- An accountant’s letter confirming your income
- Six to twelve months of BAS statements
- Business bank statements
The trade-off is that low-doc loans generally have higher interest rates and are capped at lower LVRs, typically 60% to 80% (meaning you’ll need a 20-40% deposit or equity position). As a low-doc home loan broker, we’re experienced in presenting these applications in the most favourable light and finding lenders who are comfortable with this space.
Add-Backs: What They Are and Why They Matter
Add-backs are one of the most powerful tools in a self-employed mortgage application, and one of the most underused by brokers who don’t specialise in this area.
Add-backs are legitimate business expenses or deductions that lenders can add back to your taxable income to arrive at a more accurate picture of your actual earning capacity.
Common add-backs include:
- Depreciation on business assets
- One-off or non-recurring expenses that won’t repeat
- Interest on existing business debt is being paid off
- Super contributions above the super guarantee rate
Business Structures We Work With
Self-employment comes in many forms. Our team works across all of the common structures.
Sole Trader
The simplest structure. Your business income flows directly to your personal tax return. Straightforward for lenders to assess with the right documentation.
Pty Ltd Company Director
You may pay yourself a salary, draw dividends, or both. Lenders assess director income differently; we structure your application to capture your full earnings, not just the salary component.
Discretionary and Unit Trusts
Trust structures can significantly complicate income assessment. Some lenders struggle with them. Our low-doc home loan brokers work with lenders that have clear policies and experience accurately assessing trust-based income.
Partnership
Partner income is assessed based on your share of the partnership's net profit. We ensure the documentation reflects this correctly.
First Home Buyers Who Are Self-Employed
Being self-employed doesn't lock you out of first-home buyer support. Eligible self-employed applicants can still access:
- The Queensland First Home Owner Grant (FHOG): $30,000 for eligible buyers purchasing or building a new home on contracts signed before 30 June 2026 (reverts to $15,000 after that date), on properties valued under $750,000.
- The First Home Guarantee (FHBG): Allows eligible first home buyers to purchase with a 5% deposit and no Lenders Mortgage Insurance (LMI). Income thresholds apply, and your self-employed income must be documented to the participating lender's standards, which is where our preparation makes a real difference.
Our mortgage broker first home buyer team covers the full picture of Queensland and federal first home buyer support.
Beyond Your Home Loan
Our Brisbane home loan broker services extend well beyond self-employed lending.
We regularly work with clients who start here and then go on to invest through our property investment mortgage broker team, build through our construction finance broker Brisbane service, or review their existing loan with our refinance broker Brisbane specialists.
We also assist self-employed medical professionals who may qualify for additional benefits through our home loan for medical professionals service, help clients explore SMSF mortgage broker options for investment through super, and handle asset finance for business equipment, vehicles, and more.
Get a Self-Employed Home Loan Assessment
Book a self-employed loan assessment with our team today.
Call (07) 2111 1294 or submit your details below, and our Brisbane home loan broker team will be in touch.
This content is educational in nature and does not constitute financial advice. For questions relating to your business structure and tax treatment, please consult your accountant. Loan recommendations are based on individual circumstances and are subject to lender assessment.
Our Team
Get to know the qualified brokers and finance specialists behind Woodrow Finance. We help everyday Australians understand their lending options and feel confident about the home loan and finance journey.
Daniel
Founder & Mortgage Broker
Founder of Woodrow Finance, delivering tailored advice with transparency and fast, personalised service.
Baxter
Mortgage Broker
Seven-plus years' experience, specialising in self-employed and investment lending plus first-home and construction loans.
Nathaniel
Finance Specialist
Qualified Finance Specialist helping first-home buyers, investors and refinancers find tailored finance solutions.
200+ 5-Star Google Reviews
"Dealing with Woodrow Finance was an exceptional experience that presented non-stop outstanding service.
Special mention to Mr Baxter Hill, I was very nervous about purchasing my first home however he made the whole process a breeze. Baxter was friendly, professional and knowledgeable.
When I am in need of a broker again I shall definitely be proceeding with Woodrow Finance - Thank you Baxter & Team!
Lucas
"Dan and his team went above and beyond what anyone should to secure us a great home loan within a very short period of time. We were originally misled by another broker which led to us almost losing our land that we had secured.
Dan jumped onto our case straight away and within two weeks we had everything signed and secured. Dan spoke with everyone involved and provided reassurance the whole way. He secured us an extension on our land finance date as well to ensure we got what we wanted. Dan was available at all hours and made time outside of hours to help us sign our documents. I can’t recommend Dan and Woodrow Finance enough."
Jarred
As a first time buyer, he certainly made the process worth it and got a great home loan.
So incredibly thankful. 10/10 would recommend."
Brianne
Let’s Get Started — Your New Property Is Waiting
Start with a no-obligation call with one of our Brisbane home loan brokers to explore how we can help you get the best deal on your next property purchase. Submit your details and our team will be in touch.
FAQs
How long do I need to have an ABN before I can get a home loan?
Most full-doc lenders want two years of trading history. Some lenders will consider one year, particularly if you were previously employed in the same industry. Low-doc options may be available for more recently established businesses, subject to LVR and rate conditions.
What if my most recent year had a higher income than the year before?
Good news, some lenders will use the most recent year’s income rather than the two-year average. This is lender-specific and one of the main reasons working with a specialist matters.
Can I use business cash reserves as a deposit?
It depends on the lender and your business structure. Some lenders will accept funds from a business account as a deposit if they’ve been held for a reasonable period and can be evidenced as genuine savings. This is worth discussing with our self-employed mortgage team early.
What deposit do I need for a self-employed home loan?
For full-doc applications, deposit requirements are similar to those for standard loans: 10% to 20%, depending on the lender and whether LMI applies. For low-doc loans, most lenders require 20-40%. First home buyer schemes can reduce this for eligible applicants.
What's the difference between a full-doc and low-doc loan for my situation?
Full-doc gives you access to more lenders, better rates, and higher LVR. Low-doc is for situations where standard documentation isn’t available; it opens doors but typically comes with rate premiums and stricter LVR caps.