Frequently Asked Questions

Can I get a home loan if I haven’t lodged my tax returns?

• Yes, we work with lenders who offer flexible options.
• You may be able to verify your income using alternative documentation, such as bank statements or BAS.

What documents can I use to prove my income?

• 6 to 12 months of business or personal bank statements.
• Business Activity Statements (BAS).
• An accountant’s letter verifying your income.
• In some cases, profit and loss statements.

Do I need to be self-employed for a certain period?

• Yes, generally at least 6 to 12 months of self-employment is required.
• Longer trading history may improve your chances and loan terms.

What is a low doc home loan?

• A loan that allows you to verify income without full financials or tax returns.
• Designed specifically for self-employed borrowers.
• Typically requires alternative income evidence.

Are interest rates higher for low doc loans?

• Interest rates can be slightly higher due to the increased risk to lenders.
• Rates vary depending on your deposit, credit history, and income verification.

Can I refinance with a low doc loan?

• Yes, refinancing options are available even without lodged tax returns.
• You can potentially access better rates, consolidate debt, or release equity.

Do I need a large deposit for a self-employed home loan?

• A 20% deposit is ideal, but some lenders accept as little as 10%.
• A larger deposit can improve your approval chances and reduce LMI (Lenders Mortgage Insurance).

Can I apply if I’ve only recently started my business?

• Yes, some lenders accept applicants with as little as 6 months in business.
• Strong bank statement history and industry experience may be required.

Will my credit history affect my application?

• Yes, your credit report is still reviewed.
• We work with lenders who understand the ups and downs of self-employment and may consider applicants with minor credit issues.

How can Self Employed Finance help me?

• We specialise in helping self-employed Australians secure home loans without needing up-to-date tax returns.
• We match you with lenders that offer flexible, tailored loan options.
• We handle the paperwork and guide you through the process from start to finish.