Starting a new job doesn’t mean you have to delay buying your dream home. While many lenders have strict requirements, others offer fast approvals—even if you’re still in probation or just received your first payslip. In this guide, we’ll explore how lenders assess new job situations, what income types are accepted, and how long approval takes. We will show how to improve your chances of getting a home loan approved by working with a mortgage broker who understands home loans for buyers with new jobs.
Table of Contents
Quick Summary
Yes, you can get a home loan even if you’ve just started a new job, but it depends on several factors:
1. Bank Requirements:
- Some banks require 6 months in the role and 2 years of industry experience.
- Others might accept just a payslip or employment contract.
- Casual contractors often need a longer tenure to be considered.
2. Short Tenure:
- Some lenders are flexible with short tenures, especially with a larger deposit.
- For casual employment, 6 months in the role is often necessary.
3. Employment Gaps:
- A 30-day employment gap is usually acceptable to some banks if supported by continuous previous employment history.
4. Income Considerations:
- PAYG full-time/part-time income is valued at 100%.
- Bonuses and overtime may be valued between 80-100%.
- Casual and contractor incomes might be annualised less stringently if consistent.
5. Self-Employment:
- Generally requires 18-24 months of trading history.
- Specialised roles with a consistent work history may be exceptions.
Next Steps:
Consult with a mortgage broker to navigate lender requirements and find the best option based on your unique situation. Hunter Galloway offers personalized support to simplify your home loan journey.
Case Study: Christy's story
Christy had just moved from Brisbane to Cairns to start a new job, and at the same time, she found the perfect home. She’d signed a contract and was ready to apply for a home loan, but the bank said you’ve just started a new job, and there’s no way you can get a new loan. They told her she would have to wait 3 months. That’s when Christy hit us up, and we came up with an awesome solution to help her get her home loan. We are going to cover those strategies in this article.
Understanding Lender Policies
Different lenders have varying policies when it comes to approving home loans for applicants with new jobs.
While some traditional banks may require a minimum employment period, many lenders are more flexible. Here’s what you need to know:
- Some lenders may approve your loan immediately if you’re in the same industry
- Others might require a probationary period to be completed
- Specialist lenders often have more lenient policies for new job situations
How Lenders Assess Your New Job and Income
Lenders consider both your employment status and income type when assessing your home loan application. They want to see stability, consistency, and sufficient income to meet repayments, and different income types are assessed in specific ways.
Employment Factors Lenders Consider
- Tenure in Role: Some lenders may require 6 months in a role, while others accept just a payslip or employment contract. Casual or contractor roles often need a longer employment history.
- Industry Experience: Relevant experience can help offset a shorter tenure in a new role.
- Employment Gaps: Short gaps (e.g., 30 days) are usually acceptable if previous employment history is continuous.
- Probation Period: Some lenders will approve loans during probation if the industry is stable or the applicant has a strong employment history.
Income Considerations
Lenders assess different income types differently. Base salary is generally fully recognised, while bonuses, overtime, commission, and casual or contract income may be discounted depending on consistency and documentation.
Income Type | How Lenders Assess | Notes / Conditions |
PAYG Full-Time / Part-Time | 100% of base income | Must be stable and ongoing; recent start is acceptable if employment is consistent |
Casual Employment | 6–12 months income history usually required | Industry experience is important; may annualise income less strictly |
Contractor / Freelance | 6–12 months income history required | May consider less if same industry history; ABN documentation required |
Bonuses & Overtime | Typically 80–100% depending on the field | Essential or high-demand roles may get higher assessment |
Commission Income | 80–100% if consistent history over 3–6 months | New commission roles harder to assess without past evidence |
Second Jobs / Side Hustles | 6–12 months required, must be regular and documented | Payslips or tax returns usually needed |
Self-Employed | 18–24 months of trading history generally required | Exceptions for specialized roles with consistent history |
By understanding how lenders view your job and income, you can better structure your application and provide the documentation that gives you the best chance of approval.
Tips To Strengthen Your Home Loan Application
Applying for a home loan with a new job? There are simple ways to improve your chances of getting approved.
Build a Strong Savings History – Lenders love seeing consistent savings. Set up a separate savings account and deposit regularly, even if it’s a small amount. Avoid transferring savings in and out too frequently.
Reduce Debts and Credit Card Limits – Lower your credit card limits—even unused ones. Banks usually treat 3% of the limit as a repayment, e.g. $300 on a $10,000 card. A $10,000 limit may cut borrowing by about $50,000, but the exact impact varies by lender and APRA rules.
Don’t Change Jobs Mid-Application – Try not to change roles once you start the home loan process. Lenders value stability. A sudden job change could reset the entire application process.
Check Your Credit Score – A clean credit history makes you a lower-risk borrower. Get a free credit report to fix errors or outdated defaults before applying.
Partner With a Mortgage Broker – Not all banks treat new jobs the same. A broker knows which lenders accept probation, casual income, or new roles. They can also help you structure your documents to highlight your strengths.
These tips might seem small, but together, they build a stronger application—especially when your employment is new.
How Long Does Approval Take With A New Job?
Getting a home loan after starting a new job might feel uncertain—but it doesn’t always take long to get approved.
Conditional Approval: Often Within Days
Some lenders can issue conditional approval within 24 to 72 hours. This is common if you’re a full-time PAYG employee with an employment contract. Fintech lenders, like Unloan, can issue conditional approval in under 10 minutes for simple cases.
Formal Approval: Depends on Documentation
Formal approval usually takes 1 to 2 weeks. This varies depending on how quickly you submit documents and the lender’s internal checks. If you’re still on probation, the bank may ask for more verification, which can slow the process.
What Causes Delays?
- Missing payslips or unclear employment terms
- Changing industries or going from PAYG to contractor
- Employment gaps longer than 30 days
- Multiple income streams without documented history
Working with a broker helps avoid delays. They know what each lender expects and can fast-track approvals.
Required Documentation
Disclaimer: Document requirements can vary by lender and individual circumstances. Always confirm with your mortgage broker or lender before submitting your application.
Typical Documents You’ll Need To Apply For A Home Loan:
- Employment contract or offer letter
- Recent payslips (usually last 1–3 months)
- Letter from your employer confirming role and salary (if requested)
- Bank statements showing income deposits
- Previous year’s tax returns and group certificates
- Proof of additional income (bonuses, overtime, commission) if applicable
- ABN records and financial statements for contractors or self-employed applicants
What if I Have Been In The Role For A Month?
Once again, this depends on the lender. Some banks are okay if you’ve just graduated, started a new job, are still on probation and don’t have industry experience. Other lenders just want to see one payslip. There are lenders that are fine with just the employment contract and will only want to see the payslip before settlement! This will allow you to get your home loan approved quicker.
One thing to remember is that these policies also depend on how much deposit you have. Some lenders will accept one payslip if you have a 20% deposit. But if you have less than a 20% deposit, they will need to see you in the role for at least 6 months and have a minimum of 12 months of industry experience.
Read more: How much deposit do I need for a home loan?
How Do Banks Deal With Casual Employment?
Let’s say you’ve been doing IT or programming on a casual basis and have been offered a new job/contract. How do the banks deal with this if you’re going from one job to another?
Casual employment is definitely quite challenging. A lot of the time, the banks are worried that when you go casual, you might work 40 hours this week and then no hours next week. By virtue of the fact that it’s casual, they can really give you any hours they want.
When you are casually employed, industry experience is really important. Many lenders want to see at least 6 months in a casual role, though some may consider as little as 3 months if you have strong experience in the same field. Others may require up to 12 months for more certainty.
Casual Employment Case Study: Jarvis' Story
We recently had a client, Jarvis, who has worked in several different roles as an IT contractor and got 12-month rolling contracts. Some lenders found it difficult to understand that it is the nature of the industry. We found an awesome solution with one of the banks that was willing to look at his last 6 months’ salary credits. So even though he’d been in the role for 1 month, we were able to use his 6-month salary credits from his last job and his new job and got his home loan approved.
So this is where you can see there’s a little bit of a grey area when it comes to casual employment. Not all banks are the same, and working with a mortgage broker like ourselves can help you get in the market sooner because, whilst you might get a no from one lender, another bank might be open and willing to assist.
Read more: Home Loan Casual Employment.
What If I Have A 30-Day Gap In Employment?
Having a 30-day gap in employment is pretty common when starting a new job, especially if you’ve moved interstate or changed jobs in December and might not start till January.
There are some banks like St George and Westpac, for example, who are fine if you’ve just started a new job recently. But they want to see your last 12 months of employment history on paper. Sometimes, they’ll even ask for your last pay slip to show some continuation.
Conversely, other lenders have stricter policies. For example, a bank like ANZ may require you to be in the new role for at least three months if there’s an employment gap of more than 30 days. (Note: Lender policies change frequently; it’s crucial to verify current requirements).
Now, the other thing to keep in mind is if you’ve just been accepted for a new job but are still with your old employer. The bank will decline your loan because most lenders want to see you in that new role you’ve accepted and usually one payslip. But there are circumstances where you can get an exception to work around that.
Read more: ANZ Pre-approval – the definitive guide.
I've Just Started A Business - Can I Get A Home Loan?
Getting a home loan when you’re self-employed can feel tricky — especially if you’ve just started your business or you’re contracting under an ABN.
How Banks View New Businesses
For most new business owners, lenders typically want to see 18–24 months of trading history before they’ll consider self-employed income. Why?
- Self-employed income is often irregular.
- Even if you earn a lot, you still need to cover expenses like tax, insurance, and operating costs.
Exceptions for Certain Professions
If you’re in a specialised role, banks may show more flexibility. For example:
- IT contractors
- Doctors
- Engineers
If you’ve been working in your field under PAYG for many years and recently switched to contracting, some lenders may still consider your income — even if your new ABN hasn’t been active for 12 months.
We’ve had strong success helping clients in this situation.
Real-Life Example
One of our clients worked in the film and television industry. His work often switched between ABN contracting and PAYG roles, depending on the project. Because he’d been doing this for 10 years, we were able to show:
- A history of consistent income over time
- Stability across different projects and contracts
The bank became comfortable with his income and approved his loan, even without the typical two years of financials.
What Banks Look For
The main concern for lenders is whether your income is stable enough over time. Generally, they want to see:
- At least 1–2 years of financials
- Evidence of ongoing work and income consistency
- A full picture of your living expenses and how they might change in the future
On top of that, banks apply a serviceability buffer. This means they test your loan at an interest rate that’s 3% higherthan the actual rate — often around 8–9%. This ensures you could still afford repayments if rates rise.
Tips If You’re Self-Employed
To give yourself the best chance of loan approval:
- Provide as much financial data as possible, even from short-term jobs.
- Show your income history to demonstrate consistency.
- Work with a broker who can present your case clearly to the bank.
The key takeaway: banks take a conservative approach to self-employed income, but with the right preparation and documentation, you can still get approved — even if your business is new.
Frequently Asked Questions
How long do I need to be in my new job before applying for a home loan?
It depends on the lender and your industry. Some may approve a loan with just one payslip if you have relevant experience, while others may require 3–6 months in the role.
Can I use income from a second job, commission, or bonuses?
Yes, but lenders usually require 6–12 months of documented income for a second job. Commission and bonuses are typically assessed at 80–100% depending on consistency and your industry.
What documents do I need to provide for a new-job home loan?
You’ll usually need your employment contract, recent payslips, bank statements, a letter from your employer, and previous year’s tax returns or group certificates. Contractors may also need ABN records and financial statements.
Can I get approved if I’m on probation?
Some lenders will consider applications during probation, especially in stable or high-demand industries. Providing consistent employment history or industry experience improves your chances.
How does my credit card limit affect my borrowing power?
Even if unused, lenders count your credit limit as a liability. For example, a $10,000 credit limit could reduce your borrowing capacity by up to $50,000, depending on the lender’s assessment.
Do lender policies differ for casual or contract roles?
Yes, casual and contract roles usually require longer income histories, typically 6–12 months. Industry experience and documented consistency of income can help offset shorter tenure.
Next Steps And Getting Your Home Loan
Here at Hunter Galloway, we deal with a lot of clients getting into the market for the first time after just starting a new role.
Our team at Hunter Galloway is here to help you buy a home in Australia. Unlike other mortgage brokers who are just one-person operations, we have an entire team of experts dedicated to helping make your home loan journey as simple as possible.
If you want to get started, please give us a call on 1300 088 065 or book a free assessment online to see how we can help.
More Resources For Homebuyers:
Reference and Government Resources
- Australian Taxation Office (ATO) – Provides guidance on income, tax returns, superannuation, and deductions. Visit ATO
- Australian Prudential Regulation Authority (APRA) – Oversees banks and other financial institutions to ensure they remain financially stable. Visit APRA
- ASIC MoneySmart – Offers free tools, tips, and calculators to help Australians make informed financial decisions. Visit MoneySmart
- myGov – A secure portal to access government services online, including linking to the ATO for tax and superannuation matters. Visit myGov
Disclaimer: The information provided in this article is general in nature and does not constitute financial advice. Lender policies, interest rates, and home loan requirements are subject to change. Always consult a qualified mortgage broker or financial advisor for advice specific to your circumstances.
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