Home Loans for Self-Employed People in North Brisbane, QLD, The 2026 Guide
Self-employed buyers in North Brisbane, QLD have stronger lending options than many realise. Whether you're a sole trader with an ABN, run a Pty Ltd company, or operate through a family trust, lenders exist who understand how business income actually works - and getting in front of the right one makes a significant difference to your borrowing outcome.
The challenge isn't qualifying for a home loan when you're self-employed. It's that different lenders assess the same tax returns completely differently - some focus only on your net taxable income, while others add back legitimate business expenses to see what you actually earn. Whether you're looking in Mitchelton- Stafford or Kelvin Grove, the lender you choose determines how much you can borrow.
Kelly Brothers Finance helps self-employed borrowers across North Brisbane, QLD compare options across 60+ lenders, completely free of charge.
Here's what you need to know about getting approved when you work for yourself.
Key takeaways
- Most lenders require two years of lodged tax returns to assess self-employed income.
- Add-backs for depreciation and business costs can shift borrowing capacity significantly.
- Self-employed first home buyers can access the 5% Deposit Scheme and the $30,000 FHOG.
How do lenders assess self-employed borrowers differently?
Your business structure determines how lenders view your income, and that's where the complexity begins. Sole traders with ABNs typically need two years of lodged tax returns showing consistent income - but different lenders interpret those same returns very differently. Some assess only your net taxable income after all deductions, while others add back legitimate business expenses like depreciation, motor vehicle costs, and equipment purchases to calculate what you actually earn.
Companies and trust structures add another layer. Lenders look at a combination of salary, dividends, and retained earnings, and the assessment varies significantly between mainstream banks and specialist lenders. That single difference in assessment method can shift your borrowing capacity by $100,000 or more - which is why lender selection matters more for self-employed borrowers than for almost any other buyer type.
What's the difference between full doc and low doc home loans?
Full doc loans give self-employed borrowers access to the lowest available rates, and require two years of complete tax returns and financial statements for comprehensive income verification. Low doc loans accept alternative evidence such as BAS statements, accountant declarations, or bank statements, making approval more accessible where standard documentation is limited - but typically carry slightly higher rates. Most self-employed borrowers with established businesses qualify for full doc home loans- low doc is mainly for those who cannot provide the standard two-year documentation.
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What government schemes can help self-employed home buyers?
Available to eligible self-employed first home buyers:
- › Australian Government 5% Deposit Scheme (First Home Guarantee): buy with a 5% deposit and no LMI, up to $1,000,000 in North Brisbane. No income cap applies. Self-employed buyers qualify provided their income is clearly documented and assessable.
- › Queensland First Home Owner Grant:$30,000 for new homes under $750,000. Available to self-employed first home buyers. The $30,000 amount continues for contracts signed from 1 July 2026, confirmed in the 2026-27 Queensland Budget.
- › Transfer duty exemption:$0 stamp duty on new homes for first home buyers regardless of price (from 1 May 2025). Established homes under $700,000 also qualify for full exemption. Note that from 1 August 2026 these concessions are limited to Australian citizens and permanent residents.
- › Queensland Boost to Buy: shared equity scheme with a 2% deposit, government contributing up to 30% for new homes and 25% for existing homes. Income cap of $150,000 single or $225,000 household. Places are limited and Unity Bank is currently the only approved lender.
How do mortgage brokers help self-employed borrowers get home loan approval in North Brisbane, QLD?
Step 1: Talk to us
Get in touch and we'll review your business structure, income documentation, and goals to identify which lenders assess your situation most favourably across our 60+ lender panel.
Step 2: Review your financials
We examine your tax returns, BAS statements, and financial accounts to determine your assessable income under different lender policies. This identifies where add-backs and adjustments create the strongest borrowing position.
Step 3: Match you to the right lenders
We target lenders whose assessment policies align with your business structure and income profile. Some excel with sole traders, others with companies or trusts - we know which ones work best for your specific situation.
Step 4: Prepare your application
We coordinate with your accountant to ensure your documentation presents your income in the strongest possible light, and handle the application process with your chosen lender from start to finish.
Step 5: Manage the approval process
We liaise with the lender's credit team, respond to any queries about your income verification, and keep you informed throughout the assessment period until unconditional approval is confirmed.
Step 6: Coordinate settlement
We work with your solicitor and the lender to ensure all conditions are met, funds are ready for settlement, and your purchase completes smoothly. Our job doesn't end at approval.
What mistakes do self-employed borrowers make?
The biggest mistake is approaching your own bank first without understanding how they assess business income. Your bank might be excellent for business banking but poor at recognising legitimate business expenses when calculating your borrowing capacity. Getting knocked back by one lender doesn't mean you won't qualify elsewhere - it often means you approached the wrong lender for your business structure.
The second mistake is not working with your accountant before applying. How your income appears on tax returns determines everything, and small adjustments in timing or structure can significantly improve your assessable income. The best outcomes happen when your accountant, broker, and lender all understand what you're trying to achieve.
How do lenders view different business structures?
Sole traders are the most straightforward - lenders assess your net business income from tax returns, often adding back non-cash deductions like depreciation. The key is finding lenders who add back the most legitimate expenses to maximise your assessable income.
How assessment varies by structure:
- › Company structures: lenders combine salary, dividends, and sometimes retained earnings. Directors who pay themselves minimal salaries but take large dividends need lenders who understand this structure.
- › Trust structures: more complex assessment involving distributions and beneficiary arrangements. Specialist lenders often provide better outcomes than mainstream banks.
- › Partnership arrangements: your share of partnership income is assessed based on your percentage ownership and profit share. Documentation needs to clearly show your entitlement.
Frequently Asked Questions
Can self-employed borrowers qualify for home loans with only one year of tax returns?
Typically no - most lenders require two years of lodged tax returns to establish consistent income patterns. Some specialist lenders may consider applications with 12-18 months of trading history, but this usually comes with higher rates and stricter conditions.
Do self-employed borrowers pay higher interest rates?
Not necessarily - self-employed borrowers with full documentation and strong financials can access the same competitive variable rates as PAYG employees. Low doc loans typically carry a small rate premium above standard variable rates.
What documentation do self-employed borrowers need for a home loan?
For full doc loans: two years of complete tax returns including all schedules, business activity statements, profit and loss statements, and sometimes balance sheets. For low doc loans: BAS statements, accountant declarations, or 12 months of bank statements showing business income.
Can self-employed buyers access the Australian Government 5% Deposit Scheme?
Yes - self-employed borrowers can buy with a 5% deposit and no LMI under the scheme, up to $1,000,000 in North Brisbane. There is no income cap. Your business income must be clearly documented and assessable through an approved lender.
How do lenders treat business expenses and deductions for self-employed borrowers?
This varies significantly between lenders - some assess only your net taxable income after all deductions, while others add back legitimate non-cash expenses like depreciation, motor vehicle costs, and equipment purchases. The right lender choice can increase your assessable income meaningfully, which is exactly why lender selection matters so much.
Should self-employed borrowers use a mortgage broker or go directly to their bank?
A mortgage broker, every time. Self-employed income assessment varies dramatically between lenders - what one bank declines, another approves easily. Your existing bank might be excellent for business banking but poor at recognising your true earning capacity for home loan purposes. A broker compares policies across 60+ lenders to find the one that suits your structure.
Can self-employed borrowers refinance to access equity?
Yes - existing homeowners can refinance their home loans to access equity for investment, renovation, or debt consolidation. The same income assessment principles apply, so lender choice remains crucial for maximising your borrowing capacity.
| Like to know which banks & lenders work best for self-employed buyers? Know where you really stand and what's possible, so you can plan with total confidence. 5.0 on Google
Local experts
Free service
Prefer to talk now? Call 07 3847 9450 |
Your Next Steps
Your business income deserves more than a standard banking approach. The difference between lenders in how they assess self-employed borrowers can affect your borrowing capacity by tens of thousands of dollars - which is exactly what a specialist broker comparison is designed to find for you.
The right lender for self-employed borrowers depends on your structure, and that's a conversation worth having. Talk to the Kelly Brothers Finance team or call 07 3847 9450, and we'll compare your options across 60+ lenders at no cost to you.
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External Resources
Kelly Brothers Finance · Paddington and North Brisbane, QLD · General information only - this article does not constitute financial advice. Please consider your own circumstances and seek professional advice before making any financial decisions. · Last updated 3 July 2026
