Home loans for contractors, new business owners and people with a short work history

Last updated 14 November 2026 · Reviewed by 360 MMS Compliance

Can I get a home loan as a contractor?

It may be possible. "Contractor" covers very different arrangements, so your broker starts with how you're engaged and paid:

• An employee on a contract: for example a fixed-term, casual or labour-hire contract, paid through payroll with tax taken out of your pay.
• Self-employed with your own ABN: you invoice clients for your work as a sole trader and look after your own tax.
• Through your own company or trust: your company or trust contracts with clients, and you're paid through it.

Your broker then matches you to suitable lending criteria. Your broker will assess your income and financial situation, and every application is assessed on its circumstances and lending criteria.

Not sure which you are? In broad terms, the ATO says employees work in and are part of a business, while independent contractors provide services to a business. Your accountant can help.

Contractor, self-employed or new to work: how do the options compare?

A general summary only. Your broker will assess your income and financial situation.

What if my business is new, or I've just started a new job?

It depends on the loan and your circumstances. We can help with loans for established businesses, and some of our specialist loans may help if your business is newer. If your ABN is very new, talk to your broker about what may be possible.

If you're employed, some of our loans are designed for borrowers who have recently started a new role or have a short work history. Your broker will assess your income and financial situation against the loan's criteria.

Can I use BAS instead of tax returns?

On some loans, yes. Some lenders and mortgage managers offer low doc home loans, where you sign a declaration of your income and support it with evidence instead of full tax returns. With our low doc home loans, BAS can support the declaration on some loans, while others ask for an accountant's letter or business bank statements as well or instead.

Low doc isn't no doc: your income is still declared, supported by evidence and checked. Low doc loans usually cost more than full doc loans, and on some loans, if any applicant uses low doc, the whole loan takes low doc pricing.

What if I also have a credit event or a tax debt?

Some of our loans are designed for borrowers with credit events, such as a default. An ATO debt doesn't automatically rule you out either: some of our loans can consider borrowers who have a tax debt, and your broker will look at the debt and your overall situation. Tell your broker about every credit event and debt up front, and see our guide to home loans with a default or past credit issue.

What are the pros and cons of a specialist home loan?

Possible pros:

• Loans designed for situations that don't fit standard policy, such as a short work history or a recently started business.
• Low doc can use evidence that reflects what your business earns now.
• Your broker matches how you're engaged and paid to suitable lending criteria.

Possible cons:

• Low doc and specialist loans usually cost more than full doc or standard loans.
• On some loans, one applicant using low doc means the whole loan takes low doc pricing.
• Criteria differ from loan to loan, so not every situation will fit.

How do I apply, step by step?

1. Work out how you're engaged and paid. An employee on a contract, self-employed with your own ABN, or through your own company or trust.
2. Gather what you have. Payslips and your contract, tax returns and financials, or an accountant's letter, BAS or business bank statements.
3. Talk to your broker or our team. Mention any credit events or tax debts at the start.
4. The assessment. Your broker will assess your income and financial situation and lodge the application. Our credit team assesses it against lending criteria before it goes to the funder for a decision.
5. The offer and settlement. If it's approved, you sign the loan documents and the loan settles.

How can 360 MMS help?

360 MMS is a mortgage manager. Its home and commercial loans are funded by wholesale institutional funders and arranged through accredited mortgage brokers or directly. We can help with:

• Contractors: full doc or low doc applications, depending on how you're engaged and paid.
• Self-employed borrowers: low doc home loans backed by an accountant's letter, business bank statements or BAS.
• Newer businesses and short work histories: some of our loans are designed for them.
• Company and trust income: eligible companies and trusts can borrow on some loans.
• Credit events: some of our loans are designed for borrowers with a past credit event.
• Getting started: apply through an accredited mortgage broker, or contact our team directly.

FAQs

Sources and further reading:ATO: Difference between employees and independent contractors · Moneysmart: Low-doc loan · ATO: Business activity statements (BAS)

General information only. It doesn't take into account your objectives, financial situation or needs, and it isn't credit, tax or legal advice. All loans are subject to lending criteria, and fees and charges apply. Kuone Pty Ltd T/As 360 MMS (ABN 81 621 683 672), Australian Credit Licence 504193.