21 Jan 2022

How Much Mortgage Can a Self-Employed Person Get?

Self-Employed Person

The answer completely depends on the person and the lender! Some lenders and banks have strict requirements and rules when it comes to lending money to self-employed people, while others treat self-employment the same as jobs on a payroll.

There are a lot of factors that play into how much mortgage an individual can acquire when applying for a mortgage. The factors include rental/credit history, years of experience, and paperwork.

Rental/Credit History

All applicants will need to get a credit score check! Lenders and banks will look at this information to ensure that you have a good payment history. Although you can get a mortgage with a low or ‘fair’ credit rating, you may see higher interest rates or a lower borrowing amount.

Years of Experience

This is bad news for individuals who have just begun their self-employment journey. Not all companies and banks like to see new self-employed individuals applying for a home or a mortgage because they do not have sufficient taxes or proof of income.

However, each company is different! There are large lender companies and banks in Australia that give many chances to self-employed people. However, the lower the years of experience and proof of income, the lower the borrowing amount. This does depend on the company and bank’s policy.


The proof is the number one most important thing when it comes to applying for a mortgage from a bank or loan. These individuals want to see proof that you are making enough money. Since they can lose money when giving you the funds, they want to have all the documents possible. The more years of income you have detailed in paper and writing, the higher the borrowing amount you have.


Self-employment does make it more difficult to get a mortgage, but it does not make it impossible! While some factors can decrease the amount you can mortgage, it depends and varies based on each person and company involved.

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