self employed home loan

Self Employed Home Loan

Home loan guide for self-employed borrowers

Just because you're self-employed doesn't mean you can't access the same lending solutions as those with traditional PAYG employment. The good news is that you have access to these options as well!

However, it's important to acknowledge that self-employed individuals often have a more intricate and sometimes complex  income structure. Their earnings may come from various sources, including salary, director's fees, PSI income, dividends, and multi-layered trust structures. This complexity can pose challenges when seeking financing from a bank directly.

This is where the expertise of a Koalify mortgage broker becomes invaluable. We understand that banks may not have the time or resources to thoroughly comprehend your unique income structure and cash flow. As a result, securing finance can be a cumbersome process.

Our dedicated team of self-employed mortgage broker experts are here to transform this potentially challenging journey into a seamless and efficient experience for you. We specialize in navigating the intricacies of self-employed finances, ensuring you gain access to the lending solutions that suit your specific needs.

Book a free consultation here.

What do I need to prove if I’m self-employed?

While many lenders typically mandate a minimum of 2 years' worth of business financial records along with a 24-month Australian Business Number (ABN) history, we have established partnerships with select lenders who are more flexible. Some of our lender partners only require 18 month ABN history, in addition to 1 year's worth of financial documentation and tax returns. These lenders consider financial records up to a maximum of 18 months old. As a result, they can currently accept financial records for Financial Year 2022 until March 2024. Alternatively, if your performance for Financial Year 2023 is more favorable, they can evaluate this independently.

Navigating the intricacies of self-employed loans can be a complex and time-consuming endeavor, diverting your attention away from your core business operations. Let us assist you in streamlining this process, enabling you to focus on what matters most—running and growing your business. Schedule a complimentary, no-obligation call with us today

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