Self-employed home loans on the Sunshine Coast
You can get a home loan when you’re self-employed, often with just one year of tax returns. Most knock-backs we see aren’t about the business. They come from applying to a lender whose credit policy reads the income badly. We place tradies, sole traders, contractors and company directors with lenders that count add-backs, use your latest year rather than a two-year average, or accept BAS when your returns are behind.
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Several lenders now approve self-employed borrowers on one year of tax returns, not two.
Only one in ten self-employed borrowers uses a mortgage broker, even though most pay an accountant.
Can I get a home loan if I’m self-employed?
Yes. Being self-employed is rarely why a loan is declined. The lender’s income policy usually is.
Plenty of banks still work off the old rule: two years of personal and business returns, averaged, sometimes using only the lower year. That suits a salaried borrower. It punishes a business owner whose accountant has legitimately claimed depreciation, written off a new ute and prepaid expenses before 30 June. Run the same return past five lenders and you can get five very different borrowing figures. Picking the right one is the job.
Standard rates, assessed properly
One or two years of returns and notices of assessment, with add-backs applied. You get the same products and rates as a salaried borrower, and with lenders mortgage insurance or the 5% Deposit Scheme you can buy with a small deposit. If your returns are lodged, this is nearly always the right answer.
Approved on BAS and bank statements
Lodged BAS, business bank statements and an accountant’s letter instead of returns. Expect a higher rate, possibly a risk fee, and a 20% deposit, as most cap at 80% of the property value. We treat it as a bridge and diarise the refinance to full doc from day one.
The income sitting in your tax return
Add-backs are expenses on your return that don’t touch your ability to repay. The right lender adds them back to your taxable income.
Depreciation is the first one we look for. It reduces your taxable profit, but no cash leaves the business, and almost every lender adds it back. Instant asset write-offs on a new van or machine are added back by many lenders when we can show it was a genuine one-off purchase. Interest on business debt being paid out, or assessed separately, is another common one.
Some lenders go further and count voluntary super above the compulsory rate, one-off costs such as a legal bill or storm repair, and for directors, retained company profit. These vary most from lender to lender, and a short letter from your accountant explaining each one does most of the work.
A typical Sunshine Coast sparky
Taxable income $85,000, after $18,000 depreciation, a $25,000 instant asset write-off on a new van and $6,000 interest on an equipment loan being paid out. A lender that accepts all three can assess about $134,000. One that accepts none sees $85,000, and that’s the figure a bank’s online calculator uses.
Illustrative scenario. Actual assessment depends on the lender, the evidence and the rest of the application.
Want to know your real number? Send us your latest return and we’ll show you how different lenders would read it.
Check my incomeHow a credit assessor reads your file
Once your income figure is settled, it runs through the same serviceability tests as everyone else’s. These are the ones that catch self-employed files out.
Assessment rate
Banks must test your repayments at your actual rate plus APRA’s 3 percentage point serviceability buffer, reconfirmed in 2026. A 6.5% loan is assessed at about 9.5%. Non-bank lenders set their own assessment rates under responsible lending rules, and on a borderline file that difference can decide the deal.
Living expenses and HEM
Your declared living costs are compared with the Household Expenditure Measure benchmark, and the higher figure is used. Personal spending running through the business account is the usual trap, so keep them separate.
Debt-to-income
Since 1 February 2026, banks can write no more than 20% of new loans at a debt-to-income ratio of six or more. Equipment finance, a car loan and any business debt you’ve personally guaranteed all count toward that figure.
Income trend
Rising income is averaged or, with some lenders, taken from your latest year. Falling income is often assessed on the lower year, and a sharp drop always draws questions. A year-to-date profit and loss signed off by your accountant can show a dip has already turned around.
Company and trust income
For directors, lenders reconcile your personal return with the company’s, and a debit director’s loan account managed under Division 7A will need explaining. Trust distributions are generally relied on only once they’ve been paid to you consistently, usually over two years.
Find your likely path in 30 seconds
Three questions for a rough idea of which loan fits. A starting point, not an approval.
How long in business, and how you’re set up
Under 12 months on your ABN
Options are thin under six months, so if you’re still employed, call us before you resign. From six months, a handful of specialist lenders will consider you with a 20% deposit, especially if you did the same work as an employee first. On the Coast we see it constantly: a chippy works for a builder for eight years, then does the same work for the same builder on an ABN. That continuity counts.
One to two years
Once your first return is lodged, several lenders will assess that single year, and one major bank takes 18 months of ABN history and uses your latest year rather than an average. If the return isn’t lodged yet, low doc on BAS is still available.
Company directors and contractors
Directors who pay themselves a regular wage can sometimes use a “simple self-employed” policy: around six months of payslips and an accountant’s letter instead of the company financials. Contractors paid through payroll are usually assessed as employees. ABN contractors are treated as self-employed.
Self-employed first home buyers
The federal 5% Deposit Scheme has no income caps and doesn’t require you to be an employee. The price cap on the Sunshine Coast is $1,000,000. You’ll still need to meet the lender’s income checks, so it usually needs full doc. Our first home buyer loans guide covers the grants and stamp duty.
Upgrading before you sell
Self-employed and buying your next home before the current one sells? A bridging loan is assessed on the same income rules, with the lender looking mainly at the loan left once you sell.
What you’ll need, and what to avoid
- Personal tax returns and notices of assessment (one or two years)
- Company or trust returns and financials, if you have them
- Your last four BAS and recent business bank statements
- Your accountant’s details, ABN and GST registration
- ID, savings history and statements for existing loans and cards
Got these together? Start your application.
- Taking your own bank’s no as final. It has one policy. Another lender may read you completely differently.
- Applying to three banks yourself. Each leaves a credit enquiry, and several in a few weeks looks like you’ve been declined.
- A big write-off year right before buying. Talk to us before your accountant finalises the year.
- Leaving the ATO until last. Get a payment plan in place first. See home loans with ATO tax debt.
Low doc doesn’t mean no checks. Every lender still has to confirm you can afford the loan. Moneysmart has a useful guide on comparing home loan rates, fees and features.
Brokers who run a business too
We’re a small Sunshine Coast business ourselves, and Melissa is an active property investor and developer. We understand lumpy cash flow and BAS quarters, and we work with your accountant, not around them. Read our story.
Georgia
Self-employed specialistGeorgia’s focus is self-employed clients, complex deals and investors. With Thinking Big since 2016. Credit Representative 508451.
Melissa Mann
Director & Senior BrokerIn lending since 2006, founded Thinking Big Finance in 2008, and an active property investor and developer. Credit Representative 522583.
“They went above and beyond where no other bank would budge on my situation. Truly can’t thank them enough.”
Helen · Thinking Big Finance client
“Melissa was quick and efficient with an impressive turnaround time in having our home loan approved.”
Lyle · Thinking Big Finance client
Self-employed home loans, answered
Can I get a home loan if I’m self-employed?
Yes. Full doc loans use your tax returns and notices of assessment and come at the same rates as salaried loans. If your returns aren’t lodged, low doc loans use BAS, bank statements or an accountant’s letter instead, usually at a higher rate with a 20% deposit.
How long do I need to be self-employed to get a home loan?
Two years is the traditional rule, but not the only option. Some lenders accept one year of tax returns, one major bank accepts 18 months on your ABN, and a few specialist lenders will consider six months if you worked in the same field beforehand.
Can I get a home loan with only one year of tax returns?
Yes, with the right lender. Several lenders accept your most recent return and notice of assessment, and some use that latest year on its own rather than averaging it with a weaker year.
What are add-backs?
Expenses on your tax return that don’t affect your ability to repay, such as depreciation, instant asset write-offs, interest on loans being paid out, voluntary super and genuine one-off costs. Lenders that accept them add them back to your taxable income. Policies vary by lender.
Why did my bank say I can borrow less than I expected?
Usually because it used your taxable income with few or no add-backs, averaged two years, or took the lower year. Online calculators work the same way. Another lender reading the same return differently can give a much higher figure.
What interest rate will a lender assess me at?
Not your actual rate. Banks must assess repayments at your rate plus APRA’s 3 percentage point buffer, so a 6.5% loan is tested at about 9.5%. Non-bank lenders set their own assessment rates under responsible lending rules.
Do self-employed borrowers pay higher interest rates?
Not on a full doc loan. With lodged returns and income that checks out, you can get the same rates as a salaried borrower. Low doc loans carry higher rates, which is why we plan the refinance to full doc as soon as your returns catch up.
Can a company director use payslips instead of company financials?
With some lenders, yes. Under a “simple self-employed” policy, a director paying themselves a regular wage can be assessed on around six months of payslips or income statements plus an accountant’s letter.
Can self-employed first home buyers use the 5% Deposit Scheme?
Yes. Since 1 October 2025 the scheme has no income caps, and you don’t need to be an employee. The Sunshine Coast price cap is $1,000,000. You still need to meet the lender’s income requirements.
Do you only help borrowers on the Sunshine Coast?
No. We’re based on the Sunshine Coast and help self-employed borrowers right across Australia by phone and video. If you already own property, our guide to usable equity is a good place to start.
No two businesses read the same. Tell us how yours works and we’ll tell you which lenders will see it properly.
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Tell us how you earn and what you want to buy. We’ll tell you which lenders will read your income properly and roughly what you could borrow.