SELF EMPLOYED MUM AND DAD
Although there is no such thing as self-employed home loan,there are a variety of home loan options that are better suited to the self-employed. Self-employed people may enjoy the great flexibility of being their own boss, but they may have a harder time qualifying for a home loan. There are implications when it comes to borrowing money. When you apply for a mortgage, the bank performs due diligence to ensure that you will be able to repay the obligation. If you are self-employed, a contractor, a freelancer, or a small business owner, a traditional bank will typically want one to two years of financial statements.
WHO IS SELF EMPLOYED?
- A Financial Director of a Company (regardless of shareholding amount); or
- Partner in a business partnership
- Holds a 10% or more shareholding in a non-listed company (Publicly listed companies on the ASX are excluded) or
- An independent contractor who is paid for services and / or results by one or more businesses.They have an ABN or ACN and get paid a gross amount for their services. They pay their own tax and incur operating expenses; or
LENDERS VIEW SELF-EMPLOYED PEOPLE DIFFERENTLY
There’s no getting around the fact that banks and other lenders will view your application differently if you’re a business owner or self-employed.If you have a job with an employer, a lender will only require your personal financial position to make a lending decision. When you work for yourself,your lender will also consider your business’ financial position.
If you are self-employed, banks and lenders may consider your income as unpredictable’ and therefore consider you at much higher risk of missing repayments.If you can show your lender that you’re a safe investment for them, you’ve got a better chance of your home loan being approved — there are just a few extra steps during your application when you’re self-employed.
WHAT DOCUMENTS DO I NEED TO PROVIDE TO GET APPROVED?
| Type Of Home Loan | Document Required |
| Full doc home loan |
|
| alt doc or low doc home loan |
|
Its’s Okay. Mum and Dad Finance Team is here to help
Trustindex verifies that the original source of the review is Google.
Prashant Khatri2024-11-15I have complete confidence in Amit’s expertise and would highly recommend his services to anyone seeking professionalism, reliability, and outstanding results. Thanks Amit !! for your support and expertise in helping me secure the mortgage and purchase my property. Your guidance made the entire process so much smoother, and I truly appreciate your dedication and professionalism.Trustindex verifies that the original source of the review is Google.
Vineeth Pillai2024-11-14I can’t thank Amit enough for the exceptional service he provided throughout my mortgage process! From the start, Amit was professional, attentive, and took the time to fully understand my unique financial situation. What truly impressed me was how accessible he was, always ready to answer any questions and offering clear, honest advice—no pressure, just genuine support. Not only did Amit help me secure a mortgage, but he also managed to get me a much better rate than I had initially expected. A special shoutout to Amit’s proactive approach throughout the entire process. He kept me informed every step of the way, patiently answered all my questions (even the ones I thought were silly), and always ensured I fully understood my options. His expertise and market knowledge are far superior to any other broker I've worked with in the past. I couldn’t be more pleased with the outcome. I truly felt that Amit had my best interests at heart, working diligently to secure a great deal for me. The loan I received suits my needs perfectly, and I’m confident I’m getting the best value possible. If you’re looking for a mortgage broker who genuinely cares about securing the best deal for you, note down the name "Amit Taneja"!Trustindex verifies that the original source of the review is Google.
Aussie Nation2024-11-11I had an incredible experience working with Amit Taneja at Mom and Dad Finance. From start to finish, they were professional, knowledgeable, and always had my best interests in mind. Their team took the time to thoroughly explain all my options, answering every question I had with patience and clarity. They made the entire mortgage process smooth and stress-free, handling all the paperwork and keeping me updated at every step. I truly felt like I was in capable hands, and their expertise helped me secure the best rate possible. I highly recommend Amit Taneja and the team at Mom and Dad finance for anyone looking for a mortgage broker who genuinely cares and goes above and beyond!Trustindex verifies that the original source of the review is Google.
Ankit2024-10-21As a first-time homebuyer, I was pretty overwhelmed with where to start, but Amit at Mom and Dad Finance made the entire process incredibly smooth from start to finish. I was referred by a friend, and I couldn’t be happier. Amit walked me through every step—from selecting the right property, connecting me with reliable local solicitor, and even securing the LMI waiver scheme. His guidance made everything stress-free. No headaches, just clear and honest advice the whole way. If you’re looking for a mortgage broker who truly cares, I highly recommend Amit Taneja!Trustindex verifies that the original source of the review is Google.
prithvi kharabanda2024-10-09My Wife and I recently worked with Amit from Mom and Dad Finance for an investment loan interstate in Brisbane, and the experience was outstanding. Amit was incredibly helpful and prompt throughout the entire process, providing clear guidance and support every step of the way. He made what could have been a stressful situation smooth and manageable. I highly recommend Amit to anyone looking for professional and efficient service. Thanks again, Amit, for all your help!Trustindex verifies that the original source of the review is Google.
varsha date2024-07-08We can't thank Amit Taneja from Mom and Dad Finance enough! ⭐⭐⭐⭐⭐ Amit helped us get the best deal for our investment refinance and organizing our finances. His professionalism and personal touch made a huge difference. Amit was always there to answer our questions and guide us through every step. If you're looking for a mortgage broker who truly cares about his clients, Amit is your guy! Thank you, Amit, for everything!Trustindex verifies that the original source of the review is Google.
Sunil Date2024-05-28Amit Taneja from Mom and Dad Finance has been an absolute gem for us over the past 1.5 years. ⭐⭐⭐⭐⭐ He helped us secure an amazing deal for our investment refinance, cashback, and restructuring our finances. Amit's dedication and expertise made everything so much easier and stress-free. He always kept in touch, making sure we understood every step of the process. We highly recommend Amit to anyone looking for top-notch mortgage services. Thank you, Amit, for all your hard work and support!Trustindex verifies that the original source of the review is Google.
Ash.live.sydney Australia2024-04-05Absolutely outstanding service! I can't thank Amit Taneja and Mom and Dad Finance enough for their incredible assistance. He expertly helped me in extracting equity for my investment property, swiftly secured a fantastic home loan rate, and flawlessly navigated a complex construction loan. HIs expertise and dedication made the entire process incredibly smooth. Amit and the team's professionalism and attention to detail ensured that every aspect was taken care of promptly. Highly recommend Mom and Dad Finance for their exceptional support in the financial realm."Trustindex verifies that the original source of the review is Google.
ankur mahajan2024-04-04Wow, we can't thank Amit Taneja from Mom and Dad Finance enough! Our real estate agent friend referred us to him, and it was the best decision ever. He helped us figure out how to get the most out of our loan and getting equity out for buying an investment property. Not only did he find us better rates, but we also got cashback – Amazing! He really knows his stuff and made everything smooth & hassle free. I would highly recommend Amit from Mom and Dad Finance for any sort of financial advice.
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