A lot of first-home buyers worry that being casual, contract, or self-employed means they can’t buy a home.
Good news — you can.
You just need to show the bank that your income is stable and reliable, even if you’re not on a traditional full-time salary.
Here’s the simple breakdown.
1. Getting a home loan as a casual employee
Casual income might look unpredictable, but lenders approve casual workers every day — as long as they can see consistency.
Most banks look for:
- At least 3–6 months in your current job
- Regular hours (not huge weekly fluctuations)
- Stable industry or ongoing demand for your role
- Good income history (sometimes averaged over the last 3–12 months)
If you’ve been casual for a while — or working casually in the same industry long-term — that usually strengthens your application.
Casual income red flags for banks:
- Big drops in weekly hours
- Seasonal work
- Brand-new casual job with no track record
- Heavy reliance on overtime that isn’t guaranteed
But if your hours are consistent and your payslips show steady income, getting approved is very achievable.
2. Getting a home loan when you’re self-employed
Self-employed buyers are absolutely eligible for home loans — the paperwork is just different.
Most lenders want to see:
- 2 years of tax returns
- Business financials (profit & loss, notice of assessment)
- Stable or growing income
- Business activity statements (BAS) if you haven’t lodged your latest return
Strong points for self-employed borrowers:
- Consistent revenue
- Positive cashflow
- Stable industry
- Growing business income
If your business is solid, lenders are generally comfortable.
Tip: If you’re self-employed, remember that banks don’t assess how much money your business brings in — they look at your taxable income after deductions. So if you claim a lot of expenses to reduce your tax bill, your borrowing power can drop, even if your business turns over a healthy amount.
3. What lenders really want to see
Whether you’re casual or self-employed, lenders want one thing: proof that your income is ongoing and reliable enough to cover repayments.
They’ll look at:
- Income history
- Consistency
- Industry stability
- Existing debts
- Savings behaviour
- Overall financial health
Even if your income varies, strong savings habits or low debts can balance things out.
4. How to improve your chances of approval
A few simple steps can boost your application:
- Keep your income steady
- Avoid switching jobs (or industries) right before applying
- Lodge up-to-date tax returns early
- Reduce debts like credit cards or Afterpay
- Build a solid savings pattern
- Use a broker who knows which lenders work well with casual or self-employed income
Lenders vary a lot — some love casual workers, some love self-employed applicants, and some are strict. Choosing the right lender makes a huge difference.
