Home Loans for Self Employed in Brisbane: What You Need to Apply & Qualify in 2025

Securing home loans for self employed individuals often proves more challenging than expected. Unlike salaried workers, freelancers, business owners, and contractors face tighter scrutiny, more paperwork, and fewer lender options despite often earning enough to afford repayments. 

For many, owning a home in Brisbane isn't just a dream; it's a hard-earned milestone symbolising financial independence and stability. 

Brisbane mortgage brokers at Kelly Brothers Finance can help make the home loan process smoother for self employed borrowers. With local expertise and access to a wide range of lenders, we tailor loan solutions to suit their unique needs—making homeownership simpler and less stressful.

So, if you’re a freelancer, contractor, or business owner looking for mortgage help, you’ve come to the right place! This guide will walk you through everything you need to know to successfully apply for a home loan in Brisbane in 2025.

What Are Home Loans for Self Employed?

Home loans for self employed individuals are not a separate type of loan, but rather standard home loans with adjusted requirements for income verification. 

Since freelancers, sole traders, and business owners often don’t receive regular payslips, lenders assess their financial position using alternative documents like tax returns, business activity statements, and bank statements.

In contrast, traditional home loans for PAYG (salaried) employees rely mostly on recent payslips and steady employment history. Lenders view salaried applicants as a lower risk due to their predictable income, which makes approval quicker and often easier.

Self employed homebuyers need to prove consistent income through a longer financial track record. While the approval process may take a bit more effort, the end goal of owning a home is just as achievable.

Key Features of Self Employed Home Loans

Getting a home loan as a business owner or independent earner involves a few unique aspects. Here’s what stands out when you apply:

• Alternative documentation accepted: Lenders may allow income evidence via BAS, accountant letters, or bank statements.

• Flexible lending criteria: Non-bank lenders often offer broader assessment methods compared to major banks.

• Tailored assessment of income: Lenders can consider average income over one or two years or your most recent financial year.

• Low-doc loan options available: Perfect for those without up-to-date tax returns or with irregular income streams.

These features help freelancers and small business owners qualify for loans in ways that traditional lending doesn't always accommodate.

Eligibility Criteria for Self Employed Home Loans in Brisbane

Before applying for a home loan in Brisbane, self employed applicants need to meet certain requirements that prove financial stability and income reliability. Lenders in Queensland may vary slightly, but most follow a consistent set of criteria tailored for business owners and freelancers.

Here’s what you’ll typically need:

• Registered ABN active for at least 12–24 months
  
  
• Business and personal tax returns (usually the last 2 years)
  
  
• Notice of Assessment from the ATO (to confirm taxable income)
  
  
• Business Activity Statements (BAS) – quarterly or annual
  
  
• Profit & Loss statements and/or balance sheets
  
  
• Business bank statements (3–6 months)
  
  
• A valid Australian Business Number (ABN) and GST registration (if applicable)
  
  
• A clean credit history and reasonable debt levels
  
  

If your financials are complex or incomplete, some low-doc lenders may accept an Accountant’s Declaration or bank statement-based income verification instead.

Need help pulling it all together? Call the Brisbane mortgage experts at Kelly Brothers Finance at (07) 3847 9450—we’ll help you check your eligibility and prepare the right documents.

Best Home Loan Options for Self Employed (with Broker Support)

If you're self employed in Brisbane, getting a home loan can be trickier — but not impossible. Mortgage brokers can help match your financial setup to the right loan product, especially if your income is irregular, or you're newly operating under an ABN. 

Here are the most common and effective home loan types for self employed buyers in Queensland:

Full Doc Home Loan

This is the standard loan product, requiring full financials: two years’ tax returns (personal and business), BAS, and profit & loss statements. If your income is consistent and well-documented, this type gives access to the best interest rates and loan terms.

Low Doc Home Loan

Designed for self employed borrowers with incomplete or alternative documentation. Instead of tax returns, lenders may accept business bank statements, accountant declarations, or BAS. These loans typically have slightly higher interest rates but provide flexibility when traditional paperwork is lacking.

Alt Doc Loan (Alternative Documentation Loan)

A hybrid between full doc and low doc. It allows you to mix and match supporting docs (e.g. one year of tax returns + 6 months of BAS). These are useful for newer businesses or sole traders whose income has improved recently but isn’t fully reflected in older tax returns.

Specialist Lender Loans

Some non-bank lenders and niche providers cater specifically to self employed borrowers — including those with credit blemishes, business debt, or shorter ABN history. While rates may be higher, these lenders are often more flexible with approval criteria.

Government Grants Available for Self Employed Buyers

First Home Owner Grant (FHOG QLD)

Self employed first-home buyers may qualify for a $30,000 grant when building or buying a new home under $750,000. ABN holders are eligible, provided they meet income and residency requirements.

First Home Guarantee (FHBG)

Lets eligible self employed buyers purchase with as little as 5% deposit without paying Lenders Mortgage Insurance (LMI). You’ll need to show stable income, which can include business earnings.

Stamp Duty Concessions

Available for eligible first-home buyers in Queensland purchasing properties under $550,000. Self employed buyers must meet the same criteria as other applicants.

How to Apply for a Self Employed Home Loan

Applying for a home loan as a self employed borrower in Brisbane might feel complex, but it’s completely doable with the right approach. The loan application process involves several key steps, each one helping lenders understand your income, stability, and overall borrowing capacity.

Step 1: Speak with a Mortgage Broker

Start by contacting an experienced mortgage broker who specialises in helping self employed clients. They’ll assess your financial records, recommend suitable lenders, and guide you through the process.

Tip: A broker who understands business financials can match you with lenders that offer better terms and flexibility.

Step 2: Gather Your Financial Documents

Lenders will need clear proof of income, including your last two years of business tax returns, financial statements, and current bank statements. Be ready to show details on business expenses and any personal loans you currently hold.

Tip: Keep your financial documents well-organised to speed up the review process and avoid delays.

Step 3: Assess Your Borrowing Power

Based on your income, debts, and financial obligations, your broker will help estimate your borrowing power. This helps determine realistic loan amounts and avoids applying for more than you can afford.

Tip: Reduce your business expenses and pay down other debts to boost your borrowing potential.

Step 4: Get Pre-Approval

With your financial statements in place, your broker will submit a loan application for pre-approval. This gives you confidence to shop for homes and even investment properties knowing what you can afford.

Tip: Apply just after submitting recent tax returns when your income looks strongest.

Step 5: Submit the Full Application

Once you’ve found a property, your broker will complete the full loan application process with the lender. This includes reviewing your credit report, verifying credit scores, and assessing your borrowing capacity against the property value.

Tip: Aim for a larger deposit (at least 20%) to avoid paying Lenders Mortgage Insurance (LMI) and get more competitive rates.

Step 6: Wait for Formal Approval

The lender will now review everything—your financial documents, business financials, and property details. If everything checks out, they’ll issue a formal loan approval, followed by a loan agreement to sign.

Tip: Make sure there are no surprises in your credit file that could slow down the final approval.

Applying for a self employed loan is all about solid documentation and smart strategy. Let a broker do the heavy lifting so you can focus on finding your ideal property.

Chat with Kelly Brothers Finance

Don’t let paperwork or income complexity hold you back! Talk to Brisbane mortgage brokers at Kelly Brothers Finance today. We’ll help you maximise your borrowing power and lock in a home loan that fits your goals. Call (07) 3847 9450 now and get expert support from brokers who know self employed lending inside out.

Frequently Asked Questions (FAQs)

What is the best home loan for self employed people?

The best option often depends on your financial documentation, business income, and whether you can provide solid income declarations or notices of assessment. A documentation home loan or low-doc loan with competitive interest rates, flexible loan features, and tailored terms is usually ideal for self employed types of borrowers.

What salary do you need for a $500,000 mortgage?

It depends on your annual income, existing credit cards, business credit cards, and other debts. Lenders use loan calculators to assess your income ratio, loan eligibility, and loan repayments based on your actual income and credit card limits.

Who is the best mortgage lender for self employed?

The best lender varies based on your loan journey, current income level, and financial health. Experienced brokers can compare comparison rate, rate home loan, variable rates, and conventional loans to match you with the right loan expert and lender.

Can you get a home loan if you work for yourself?

Yes, self employed applicants can qualify using evidence of income such as standard documents, notices of assessment, or business income figures. Lenders may offer a secured loan if you have a steady income, strong financial documentation, and a suitable security property aligned with your property goals.

Should I choose a business loan or traditional loan for buying a house?

A traditional loan or conventional loan is usually the way to go for home purchases, as a business loan isn’t typically designed for personal property. To find the best fit, speak with a loan expert who can assess your regular income and recommend the right structure for your loan journey.

Final Thoughts

Buying a home with a self employed income in 2025 is absolutely possible. With the right guidance and a clear plan, your goals can come to life. 

At Kelly Brothers Finance, we’re based in North Brisbane and proudly serve Greater Brisbane, Queensland. Whether you’re buying your first house in Brisbane or upgrading, we understand how to work with your income and business setup. Call us at (07) 3847 9450 to book your free home loan consultation today!