Running your own business shouldn't mean you can't buy a home. But banks often take a narrow view of self-employed income, especially if your taxable income is lower than what the business really earns. We know which lenders look further.
Full-doc loans
With two years of tax returns and financials, most lenders will consider you. The difference is in how they read the numbers. Some add back depreciation, interest, one-off expenses and super above the minimum, which can lift your borrowing power considerably.
One year of financials
Some lenders will accept a single year of tax returns if you've been in the same industry before going out on your own.
Low-doc options
If your tax returns aren't up to date, some specialist lenders accept BAS statements, business bank statements or an accountant's declaration instead. Rates are usually higher and deposits larger, so we'll show you whether it's worth it or whether waiting for your returns is the better plan.
Companies and trusts
If you trade through a company or trust, lenders look at the entity's financials as well as yours. We work with your accountant so the application tells the full story.
Guides
- Low-doc home loans for tradies and contractors: how they work and when they make sense
- Self-employed? What add-backs are and why they matter to lenders
- Self-employed and planning to buy? What to sort out before 30 June
Common questions
Can I get a home loan with only one year of tax returns?
Some lenders accept one year of returns, especially if you worked in the same industry before going self-employed. Others need two years.
What is a low-doc loan?
A loan for self-employed borrowers who cannot provide full tax returns. Lenders use BAS, bank statements or an accountant's letter instead. They usually need a larger deposit and charge a higher rate.
What are add-backs?
Expenses that reduce your taxable income but are not real cash costs to you, such as depreciation or one-off costs. Lenders that accept add-backs can count more of your income.