Mortgages For Self Employed Borrowers
Self employed and looking for a home loan? No problem
As the best mortgage brokers in the region, if you're looking for a mortgage broker near you, we are the people to help! We know that gaining a mortgage can be daunting if you are self employed. With us as your local experts you can let your worries go! There are many types of home loans offered by lenders across Australia and our role is to compile a list of your options. We will also tailor the mortgage options to suit your specific needs, getting you the best deal possible!
Types of Home Loans
There are many different types of mortgage home loans. Whether you are a first time buyer or looking for something else we will help you to make the most out of your finances. Dependent on your calculated income, the banks will offer you different deals. This may require a deposit or in some cases we may be able to arrange for you a no deposit home loan. As expert mortgage brokers we will broker a home loan for you that will offer you the deposit and repayment plan to suit you.
How is my income calculated?
Most lenders consider your tax returns to be an indication of the stability of your business. This is why they ideally want you to have been working as your self employed business for 2-3 years so that they can make a more evidenced prediction for your future income. They all do this differently, for example one lender may look at the average of your last two years of income, another may use the lowest income of the two years and another may use simply your most recent income at the end of the financial year. They then may add on the expenses shown on your returns, whereas others do not. The variety in these calculations mean a great variety on your loan application!
How to Get a Mortgage
Getting in touch with us is your first step to securing a mortgage and then a dream home! We will work with you to process your self employed income history, creating an excellent mortgage application on your behalf. We will help you to arrange an excellent mortgage loan pre approval, which is where a lending company decrees you to be a secure investment based on your prior financial income.
Being Self Employed:
Being self employed is not going to necessarily have a negative effect on your ability to get a good rate mortgage loan. By working with experts such as ourselves we can source you some good quality options. Ensuring that you have at least two years’ tax returns and financial statements will boost your application. There are ways around this, so if you do not have this documentation please still feel welcome to get in touch. We know our lenders well, and some are more flexible than others. For example, most lenders will require you to have been self employed for 2-3 years minimum, but there are some who will work around this.
Let's Talk
If there's one thing you've learned working for yourself it's where there's a will there's a way. If you're self employed or a business owner and looking for a home loan we've got relationships with lenders who would love to help. We'll help you put together your application so you can get approved fast and into your new home sooner. Interested? Then let's talk. Hit the button below to send us a mail or call right now on 1300 379 338