Home Loans for Part-Time Workers: Essential Guide for First-Time Buyers

Brisbane’s median house price now sits above $1 million, fuelled by strong demand in inner-city precincts and growing outer suburbs. For many casuals, shift workers and contract staff, part-time workers' home loans can bridge the gap between irregular pay and lender requirements. 

Full-time roles traditionally make it easier to prove income stability, whereas part-time workers face variable hours, higher deposit requirements, and mortgage insurance. Tailored home loan products for non-standard employment offer flexible income assessments, recognise multiple income streams and include repayment options suited to unpredictable cash flow.

Let’s explore how these loans work, what criteria you’ll need to meet and the practical steps to take as a first-time buyer.

Ready to leverage your part-time income and unlock home loan eligibility? Chat with our Brisbane mortgage brokers at Kelly Brothers Finance. Our experts will compare lenders, tailor loan features to your variable income and guide you through every step. Call us now on (07) 3847 9450 or visit kellybrothersfinance.com.au to learn more.

Can You Get a Home Loan on Part-Time Employment?

Yes. Part-time workers can secure a home loan, although the process differs from a standard home loan. 

Traditional mortgages assume a steady full-time income and often stress-test your application against a fixed salary. In contrast, lenders assessing a part-time application will average your variable hours over 12–24 months, scrutinise bank statements, PAYG summaries and your credit report, then weigh any additional income streams (like rental or casual work). 

You may deal with a slightly higher interest rate or a specialist lender, but with a solid deposit and clear employment history, a tailored home loan product can match your needs just as well as a conventional loan.

Casual Employment vs Contract Employment

Casual roles mean you’re rostered as needed, with no guaranteed hours or ongoing commitment. With pay that can swing week to week, lenders average 12–24 months of bank statements, payslips and Group Certificates or PAYG summaries to gauge your income. They often add a serviceability buffer or recommend a specialist lender that understands irregular rosters.

In contrast, contract positions outline set hours and a clear end date (six months, 12 months, or more), making income assessment simpler. You’ll supply a signed contract, recent payslips and any renewal letters, which usually means fewer “what if” stress tests and a more competitive comparison rate. 

Either way, having solid documentation, a healthy credit report, and enough deposit to meet your chosen LVR is key to approval.

Maximise your borrowing power on a part-time income! Let Kelly Brothers Finance’s Brisbane mortgage brokers craft a deposit strategy, minimise LMI and match you with a participating lender who values your variable income. Call us at (07) 3847 9450 or explore your options at kellybrothersfinance.com.au.

Eligibility Criteria for Part-Time Workers

Not every part-time role meets lender benchmarks. You’ll need to demonstrate more than just an income stream. First, make sure you tick these key eligibility boxes:

• Minimum deposit: Typically at least 5 per cent of the property value (though 10–20 per cent helps you avoid Lenders Mortgage Insurance).
  
  
• Consistent employment history: A minimum of 12 months’ part-time work, with regular hours rostered or contracted.
  
  
• Income evidence: Recent payslips, 12–24 months of bank statements, Group Certificates, PAYG summaries or an ATO Notice of Assessment.
  
  
• Healthy credit profile: A credit score ideally above 620, with no defaults, judgments or adverse listings on your credit report.
  
  
• Serviceability: Ability to meet repayments under a stress test (often at least 3 per cent above the current standard variable rate set by the Reserve Bank of Australia).
  
  
• Acceptable loan-to-value ratio (LVR): Up to 95 per cent LVR for First Home Guarantee applicants; most others capped at 80 per cent without LMI.
  
  
• Debt-to-income ratio: Low levels of existing debt (credit cards, personal loans, rental commitments) to ensure you’re not over-leveraged.
  
  
• Residency status: Must be an Australian citizen, permanent resident or eligible visa holder as per lender policy.
  
  
• Government scheme eligibility: Income and property value caps for the First Home Guarantee, First Home Owner Grant or Regional First Home Buyer Guarantee. Check each scheme’s current criteria.
  
  
• Specialist lender requirements: Some non-major banks and credit unions accept shorter employment histories or count up to 80% of verified casual or rental income.
  
  

How to Apply for a Home Loan as a Part-Time Worker?

Getting your ducks in a row before diving into a home loan application saves time and fees. Understanding each stage of the application process and lender expectations lays the foundation for success.

1. Assess borrowing power and eligibility

Before you start, compare interest rates and factor in the property price you’re targeting using an online calculator. Lenders will test your income variability by averaging income sources over 12–24 months and may benchmark you against traditional employment or full-time employment to gauge financial stability.

2. Gather your documents

You’ll need proof of employment and recent financial statements, bank statements, payslips, Group Certificates, PAYG summaries or an ATO Notice of Assessment, to show consistent part-time income and variable income history. Clear income verification tailored to your employment type and employment status is crucial for lenders to tick off their criteria.

3. Work with a mortgage broker

A mortgage broker, such as Kelly Brothers Finance, opens doors to multiple lenders, including specialist panels and any participating lender that suits your circumstances. They’ll compare loan features, like offset accounts, redraw facilities or interest-only options, while keeping you across shifting property prices and evolving interest rates.

4. Seek pre-approval

Kick off the formal application process by lodging a conditional request with your broker or lender, who will outline applicable interest rates and any pre-approval fees. You must submit a signed contract of sale at this stage, plus pay any valuation or application fees required by the lender.

5. Lodge the full application

After exchanging the contract of sale, your broker or lender will submit your complete paperwork, updated payslips, proof of employment, and bank statements to the chosen participating lender. Formal approval usually takes two to four weeks, and you may need to cover any full valuation fee, lender legal costs or additional documentation requests.

4. Receive unconditional approval and settle

Once you satisfy all lender conditions, you’ll receive unconditional approval and a settlement date, typically four to six weeks from exchange, where final interest rates are locked in. Be ready to cover stamp duty, conveyancing fees and any remaining deposit balance based on current property prices before you collect your keys.

Don’t let variable hours hold you back! Our Brisbane mortgage brokers specialise in part-time workers’ home loans. Let Kelly Brothers Finance streamline your application process, negotiate the best interest rates and secure the loan features you need for your home in Brisbane. Call (07) 3847 9450 or head to kellybrothersfinance.com.au today for a free chat.

Frequently Asked Questions (FAQs)

Can a part-time worker get a home loan?

Yes. If you can show 12–24 months of consistent part-time income with bank statements, payslips and the required deposit, most lenders, including specialist and major banks, will assess your application on its merits.

What is the easiest home loan for a first-time buyer?

Generally, a basic variable-rate loan from a major bank or credit union is the simplest to apply for, as it has fewer features and simpler approval criteria; pairing it with a government First Home Guarantee or First Home Owner Grant can make it even more accessible.

How much deposit do you need for a first-time home buyer in Australia?

You can borrow with as little as 5% deposit under the First Home Guarantee, but most lenders prefer 10–20% to avoid Lenders Mortgage Insurance and get better loan features and interest rates.

What types of home loans are available for part-time workers?

You can opt for standard variable-rate loans, fixed-rate loans, interest-only options or package loans with bundled features. There are also low-deposit or low-doc loans, specialist “non-standard employment” products and construction or bridging loans, each designed to suit different income streams and cash-flow needs.

Wrapping Up

When you’re juggling part-time hours and a home loan application, having the right support can make all the difference. Documenting your income, exploring tailored loan features and tapping into government schemes are the building blocks to making your first home purchase a reality. 

If you’d like a hand pulling it all together, our mortgage brokers at Kelly Brothers Finance are ready to help with a free consultation. We’re based in North Brisbane and proudly serve all of Greater Brisbane. Give us a call on (07) 3847 9450 or visit kellybrothersfinance.com.au to book your no-cost chat today.