Unusual employment loans
Just because your job is different doesn’t mean it should be hard to get a mortgage.
Unusual Employment Loans
Today, more people have two or more sources of income. They juggle two different jobs, maintain a business, or engage in trading. If you are one of them, you might want to know how this affects you when applying for a home loan.
Many lenders often ask for traditional proof of income and employment, so it can be hard for you to prove your real income if you have multiple sources. That is why modern home loan lenders now offer flexible credit assessment to accommodate people with unusual employment. We call this an ‘unusual employment loan’.
In order to get your loan approved, you need to present a combination of documents to make sure that the lenders will assess your income correctly. If you are on probationary or temporary employment, you have to go for lenders that accept these types of unusual employment. Though most lenders stick to traditional guidelines on home loans, there are lots of lenders who are open for contemporary ways of lending as long as you can prove that you can afford the loan.
An ‘unusual employment loan’ is for you if you are:
- A casual worker – If you are working in the hospitality industry, chances are you are a casual employee. But that doesn’t mean you have an unstable income. You can still get a home loan provided that you can prove your income.
- On probation – There are some lenders who accept home loan applications from people who just started a new job. Call us to find out who these lenders are!
- Self-employed – You can get a home loan as long as you can provide documentations to prove your income. See also self-employed loans.
- Agency worker – Not all lenders are the same. If you are an agency worker and they think you are a good borrower, they will gladly accept your application.
If your case is not listed above, you can talk to us and we will gladly help you. There are many types of home loan that may be fit for you. If you wish to talk to a 3Carrots mortgage broker to know more about home loans, please call 0434 390 688.