Guide / Self-employed
What should a self-employed borrower prepare for a home loan conversation?
A good first conversation starts with how your business earns, how you pay yourself and what you want the loan to do.
Gather records that help explain your personal income, business activity and existing commitments. Ask which documents the lender needs for your business structure before you lodge an application.
Show the whole income story
Self-employed income may not arrive as a regular salary. Prepare a simple explanation of your business, its trading history, your role and the way you draw income. Bring the records you already use to understand your finances, then check the lender's current document list with your broker or lending contact.
Depending on your circumstances, a conversation may cover tax returns, business financial statements, business activity statements, bank statements and details of other income. These are examples for discussion, not a universal checklist or a promise that any one document will be accepted. The Australian Taxation Office explains that tax returns and, where relevant, BAS are core records of business income and tax reporting.
Ask before you apply
- Which business and personal income records are needed for my structure?
- How will the lender assess income that varies during the year?
- What information is needed about debts, living expenses, deposit and the property?
- If a document is not yet available, what should I do before lodging?
ASIC's MoneySmart advises discussing needs, borrowing capacity, costs and features with a mortgage broker. Use that discussion to test whether a product fits your circumstances rather than relying on a headline rate alone.
Searching for a different document route? Read what low doc means and how an Alt Doc income discussion works before assuming either route fits your application.
Sources and further reading
- ASIC MoneySmart — Using a mortgage broker
- Australian Taxation Office — Business and professional items
- Australian Taxation Office — Business activity statements
Required documents, eligibility, rates and loan terms depend on the lender, product and individual credit assessment.