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4 Tips for Getting a Home Loan if you’re Self-Employed

If you are self-employed, then it can seem like a difficult task to get approved for a home loan. It is important that your lender assesses the stability of your income before approving any loans. Here at Coronis Finance we understand this and have worked with many clients in similar situations to help them find an affordable option they will be happy with! Find out the top 4 tips for getting a self employed home loan in Queensland.

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4 Tips for Getting a Home Loan if you’re Self-Employed

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  1. CORONIS FINANCE 4 TIPS FOR GETTING A HOME LOAN IF YOU’ RE SELF- EMPLOYED Best tips from the experts STAY ON TOP OF YOUR TAX RETURNS Working for yourself can be tough when it comes to getting a mortgage. Lenders will need formal tax assessment documents so they know your income is stable, and with two years of taxes you'll have an easier time proving that. If this sounds like you, make sure not to spend too much money on house hunting just yet! You should wait at least 12 months before going after the dream home - but don't forget about saving up all that cash in the meantime! DON’ T STRESS ABOUT PATCHY CASH FLOW Self-employment is not for the faint of heart. You're constantly balancing your cash flow and dealing with irregularity in bills every week, but it's great that lenders let you average your yearly income rather than just looking at a certain time period. EXPLORE LOW-DOC HOME LOAN OPTIONS You might need a low-doc loan if you don’ t have up-to date tax returns. You can provide other evidence such as business activity or bank statements to prove income instead, but sometimes these loans come with higher interest rates. TALK TO AN EXPERIENCED MORTGAGE BROKER EARLY The best way to become a homeowner is by speaking with one of mortgage brokers. By coming up with a plan early, you will have something on your mind when it comes time for work and an overall goal that makes everything seem possible! KEEP ON LEARNING Stay updated on new tips Coronis Finance is the best mortgage broker in Queensland. We provide a solution for every type of loan you may need, whether it's your first home or an investment property. Contact one of our expert finance brokers to get started today and find out how they can help! 532 LUTWYCHE ROAD LUTWYCHE, QUEENSLAND, AUSTRALIA 4030 PHONE EMAIL (07) 3864 4990 MORTGAGES@CORONIS.COM.AU V I S I T: W W W . C O R O N I S F I N A N C E . C O M. A U

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