Can FIFO income count for a home loan?

Cooper was a permanent heavy diesel mechanic on a 2:1 FIFO roster. His pay included a $115k base, $25k site allowance, $10k shift allowance, $35k overtime and a separate $15k living away payment.

His first assessment used the base, ignored both allowances and counted half the overtime. That left $132.5k in the lender's calculation and a borrowing power gap of about $280k.

I used the employment contract and 2 years of PAYG summaries to show that the site and shift payments were tied to the mandatory roster and continued across leave and site changes.

$52.5k more income counted That changed the borrowing power result by about $280k.

The approved assessment excluded Cooper’s separate $15k living away payment.

A different lender used $185k and approved the $850k purchase with a 10% deposit. Cooper's job did not change. We showed which parts of his pay continued and chose a lender whose rules fitted the evidence.

The $280k difference came from Cooper's assessment. Another borrower may receive a different result, and we check current lender rules for each new application.

Can FIFO income count for a home loan?

FIFO income can be used. The goal is to show the lender which parts of the package continue with the job. I separate fixed pay, roster payments, overtime and reimbursements, then compare the options against the evidence and the property.

With a large FIFO package, the lender needs to know which payments are likely to continue and see documents that support them.

First I check who employs and pays you. Three people can work beside each other on the same mine site, while one is permanent PAYG, one is casual labour hire and one invoices through an ABN. Each needs different evidence.

Then I separate the payslip into the parts below.

Policy principles checked July 2026. This table explains the questions to resolve. It does not promise that a lender will use any pay line or percentage.

If the payslip shows one combined "allowances" figure, I ask payroll for the breakdown before relying on it. That lets me check the rule for each payment instead of treating every allowance the same way. The breakdown alone does not establish whether the lender will accept the income.

The broader income and employment home loan guide explains how your employer, employment type and variable pay fit together. If you invoice through your own ABN or entity, start with the self employed home loan guide.

Check which period the lender wants your payslips to cover.

A lender may ask for a payslip with 3 or 6 months of year to date figures. That can be a rule about the evidence on the payslip, not a statement that your overtime has only existed for 3 or 6 months.

The lender checks how long you have received the income and what period your payslip covers. If the current payslip covers too little of the year, prior year records may provide the history needed to calculate the income.

For a 2:1 roster, 2 payslips can also catch different parts of the swing and look inconsistent. I compare complete roster cycles, the year to date figure and the prior year before deciding whether the income has genuinely changed.

After a pay rise or roster change, you may need new payslips to show what you now earn.

I check what changed and which payments will continue:

If your contract has a fixed end date or you are moving between contracts, the guide to home loans on contractor income covers that separate timing question.

Include the whole pay package in your enquiry, with each allowance and reimbursement listed separately. Do not leave out a payment because you are unsure how the bank treats it. Tell me which payments would stop if your roster, site or role changed so we can discuss the income you expect to keep.

I start with the part of your pay the lender is questioning. That tells me which document to ask for.

• Employment contract when a site, shift or roster payment is said to be part of the job.

• Payslips across complete roster cycles when one fortnight looks unusually high or low.

• Current year to date and prior year income records when overtime or variable pay needs a longer comparison.

• Employer confirmation when the site, roster, who employs you or continuation of an allowance is unclear.

• A simple employment timeline when you moved between contractors, labour hire firms or mine sites.

• The exact property address when the purchase is in a smaller regional or mining market.

The documents should answer 3 questions: who employs you, which pay continues and what history supports the amount being used.

Where you work and where you buy are not the same question.

You might work at a remote mine and buy a family home in Brisbane. In that case, the income is the unusual part of the application. If you are buying in a small market near the mine, the valuation and resale market can become a separate issue.

A lender may be comfortable with your $185k income and still reduce the amount it is willing to lend against a particular property. Another may be comfortable with the property but use less of the overtime. I test both before treating a borrowing power estimate as a purchase budget.

Cooper's approved purchase showed that a better income assessment can solve a real problem. I still check whether the repayments suit your household, even if a lender can approve them.

If the loan only feels comfortable while you keep every overtime shift, ask what happens during annual leave, an injury, a shutdown or a move to a different roster. The lender's calculation is not your household budget.

I compare 3 versions:

1. the loan using the fixed base only

2. the loan using the supported continuing FIFO package

3. the monthly position if the overtime or one site payment reduces

The middle version shows the loan that may be available. The first and third help you assess whether the repayments leave enough room in your budget.

About this information: The income and property principles on this page were checked against current lender rules in July 2026. They are general starting points only. Lenders can change their rules and assess the full application individually.

Hunter Galloway. Australian Credit Licence 389328. Credit Representative 000476903. This page contains general information and is not a credit assessment or promise of approval.

Client examples are based on real situations. Names and identifying details have been changed.

Content reviewed on 17 September 2026. Lender-policy verification dates are stated separately; lender requirements should be confirmed for your application.