Running your own business is a dream for many, but when it comes to buying your first home, it can feel like the system is stacked against you. If you’re self-employed or a sole trader, getting a home loan might seem harder than it should be. At Loan Lounge, we specialise in helping small business owners get into their first home—even without the standard 9-to-5 paperwork. Here’s what you need to know.
- Yes, You Can Get Approved Without a Payslip
Banks want to see one thing: proof that you can repay the loan. As a business owner, you just need to show that your business is stable and profitable. That’s usually done with:
- The last 1–2 years of tax returns and financial statements
- Business Activity Statements (BAS)
- A strong credit score
- Consistent income history
Some lenders also offer low-doc loans, which are designed for self-employed borrowers who may not have full tax returns yet.
Use our Borrowing Power Calculator to estimate what you might qualify for.
- Show Stable Income and Keep Records Up to Date
The key to a successful application is good bookkeeping. Your accountant is your best friend here. Make sure your business financials are up to date and filed on time. Bonus points if you can show year-on-year growth. At Loan Lounge, we work closely with your accountant (or help connect you to one) to present your income clearly to lenders. - Pay Down Debts and Know Your Numbers
Your personal and business debts—like car loans, credit cards, or ATO repayment plans—can affect how much you can borrow. We help you assess your cash flow and loan serviceability in advance so there are no surprises.
Try our Loan Repayment Calculator to see what repayments would look like based on your income. - You May Be Eligible for First Home Buyer Grants
Just because you’re self-employed doesn’t mean you miss out on government support. If you meet the eligibility criteria, you could still access:
- First Home Owner Grant (FHOG)
- Stamp duty concessions
- Shared equity or deposit schemes
We’ll help you check what’s available in your state and apply on your behalf.
- Get a Broker Who Gets Small Business
Not all banks understand the self-employed. Some have strict policies or require unnecessary paperwork. That’s why working with a mortgage broker who specialises in small business loans makes all the difference.
Visit our Self-Employed Home Loans page to explore your options.
At Loan Lounge, we’ve helped hundreds of business owners—tradies, creatives, consultants, and online sellers—get into their first home with confidence.
Book a free, no-obligation chat with our team: Contact Us
Just because you’re self-employed doesn’t mean you have to wait years to buy a home. With the right preparation, the right lender, and a broker who understands your journey, buying your first home is completely within reach.
You’ve built a business. Now let’s help you build your home.