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Home Loan Casual Employment

Ready to buy a home but your bank knocked you back because you are in casual employment?

Don’t worry!
This post contains 3 proven strategies that are working GREAT right now.

(In 2019)

So if you want to get a home loan with a casual job, then this is the right post for you.

Let’s get started.



Casual Home Loan Basics

According to the ABS, over 25% of workers in Australia are casually employed or just under 2.5 million people.

Many of these people are working in the retail and hospitality industries where it is quite normal to be in a casual job.

Unfortunately, the banks are filled with full-time workers so they do not understand much about casual employment, and their lending policies also reflect this – some banks will decline your home loan if you are casually employed because they think it is much higher risk than giving a loan to a permanent employee. Which is a joke!

According to the Government, “around 81 per cent of casual employees is expected to be with their current employer in 12 months compared with around 93 per cent of permanent employees”. So realistically being in a casual job these days isn’t that much more of a risk than being a permanent employee.

Fortunately, we have a few lenders that understand Home Loans for Casual Employment and are fine with your job.

loans for casual workers

Depending on your work situation, we work with lenders that can give you a casual home loan if you are:

  • Full Time Casual: If you are considered a full time casual, and work the same regular hours each week – you only need to have been in your job for 1 month to qualify for a home loan.
  • Part Time Casual: If you are working irregular hours, or part-time casual, for example, 30 hours one week and then 15 hours the next week you need to have been in your job for at least 3 months to qualify for a home loan.

Do you want to get your home loan approved? Give our Home Loan Experts a call on 1300 088 065 or get in touch online and we’ll call to chat about your options.



How to Get a Home Loan Approved With a Casual Job?

When you are a casual worker you might have found it hard to get your home loan approved, the banks might be concerned that you don’t receive holiday leave or sick leave.

Or they might have questioned how your part-time casual income goes up and down each week…

A lot of banks assume if your work was going to start firing people, being casual you’d be the very first one to go!

(Which clearly is not the case!)

We help lots of casual workers, including:

  • ✅ Stable casual jobs with irregular hours 
  • ✅ Full-time casuals 
  • ✅ Part-time casuals 
  • Casual teachers 
  • ✅ Casual nurses
  • ✅ People who work in several casual roles 

loans for casual employees

What deposit do casual workers need?

If you are in a casual job, you can buy a home with as little as a 10% deposit, and if you have been in your role for over 6 months you might be able to get a higher loan amount.

Chat with a Mortgage Broker

Where the majority of mortgage brokers in Australia are generalists, we specialise in arranging home loans for people in casual jobs. We can quickly work out what lender will work with your situation, so call us on 1300 088 065 or get in touch online to speak with a casual home loan specialist.


How can a casual teacher qualify for a home loan?

Working as a teacher, or teachers aide employed casually can have lots of perks, you have flexibility when it comes to school holidays and might get paid more than if you were employed permanently.

loans for casual teacher

But you might have found the banks are struggling to understand your income… Why?

  • ✅ You might only work 40 weeks, of a 52 week year.
  • ✅ You could work across a few different schools, but all your payslips are from Education Queensland or your states Education Department.
  • ✅ The Year to Date (YTD) figure on your payslip might not show your real salary because of recent school holidays
  • ✅ You tried to apply for a home loan during school holidays and you may not receive any pay, making it tough to prove your income.

We work with a few different banks that will calculate your real income based off your PAYG Summary (also known as a group certificate) or your weekly income times 40 weeks.

Please give us a call on 1300 088 065 or fill out our free assessment online and one of our Mortgage Brokers can help get your loan approved.


How will a Bank Calculate My Casual Income?

Every bank has its own way of working out casual income to use on a home loan application.

casual nurse home loan

While some banks will want to see your last 2 years PAYG Summaries (group certificates), some may use the Year To Date (YTD) gross income from your payslip to work out your annual income.

The YTD calculator method is used if you have only been in your job for a few months. You can use our Year to Date Calculator to work out your annual income.

In General, the banks will want to see at least one of the following to calculate your casual income:

  • ✅ Three months’ salary income credits to your bank account
  • ✅ One payslip showing more than three months Year to Date income
  • ✅ One payslip showing less than three months Year to Date income and PAYG payment summary or tax return.
  • ✅ Letter from employer or employment agency with current employment/length of employment and break up of Year to Date income and PAYG payment summary or tax return.

We work with over 30 different banks and lenders who all have their own way of calculating your casual income, to work out the best option for you give us a call on 1300 088 065 or fill out our free assessment online.


Which bank is the best with casual jobs?

There are big banks, small banks and non-banks that all consider your home loan while you are working casually but the exact outcome is hard to know without understanding your overall situation.

Some of our banks will approve your home loan application if you have been working casually for under 3 months!

home loans for casual workers

Fill out our free assessment form, or call us on 1300 088 065 to chat with one of our specialist mortgage brokers to know which banks will approve your home loan while you’re in a casual job.


Bonus Tips, Strategies and Real-Life Examples

Casual work comes in all different formats and variations, some people have stable but irregular hours – others might work regular hours but might never have been offered a permanent role.

Here is a real-life case study of casual workers who qualify for a home loan:

mortgage for casual worker

In this example, they have been working in the same industry for over 4 years – this strengthens the application because it shows consistency. We could even look at using the most recent year’s gross income of $54,000 if required and they would absolutely qualify for a home loan based on their situation.

In this situation, I would suggest having all of your supporting documentation together for when you speak with your mortgage broker including:

  • ✅ 2 Most Recent Payslips
  • ✅ Last 3 Years PAYG Summary (also known as Group Certificate)
  • ✅ Last 3 Months Day to Day Transaction Account Statements (Where you are paid)

We work with over 30 different banks and lenders who all have their own way of calculating your casual income, to work out the best option for you give us a call on 1300 088 065 or fill out our free assessment online.


Help I’m not quite sure what applies to my situation?

If you are looking to get a Home Loan while working casually our team at Hunter Galloway can help.

I’m Jayden Vecchio, and our team here at Hunter Galloway helps home buyers with navigating the home buying process.

Mortgage Home Loan Application

What we do is make it simple to get through the home loan process, and with our team of experts, we will help walk you through the process to complete your first home buyers grant application. If you are building your first home we can help walk you through the construction loan process.

Our service does not cost you anything as we are paid by the lender when your home loan settles.

To chat about your deposit, lending and first home ownership options book in a time to sit down with us, or feel free to call on 1300 088 065.

More Resources for home buyers

Ready to take the next step toward buying? We’re happy to help. Schedule a call today with a Home Loan Expert from Hunter Galloway, the home of home buyers.

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