Business owner home loans in Bankstown
Run your own business in Bankstown or South West Sydney? We'll present your income the way lenders need to see it.
You built a business. Buying a home shouldn't be the hard part.
You know your business is doing well. Your accountant knows it too. But on paper, after deductions and reinvestment, your taxable income might tell a lender a different story.
At Infinity Mortgage Brokers, we help business owners across Bankstown and South West Sydney turn their real financial position into a home loan application that makes sense to a lender.
How do lenders assess business owners?
Without payslips, lenders rely on your financials - and each one reads them differently. They'll usually look at:
- Personal and business tax returns
- Financial statements for the business
- How long you've been trading
- Add backs like depreciation and one off expenses
- Income paid through a company or trust
- Business bank statements, in some cases
We'll work out which lenders will take the most accurate view of your income, and prepare your application to suit.
What if my taxable income looks low?
That's common, and it doesn't have to stop you. Some lenders will add back certain expenses to get a truer picture. Others offer low-doc options using BAS, bank statements or an accountant's letter.
The key is choosing the right path up front. The wrong lender can mean a lower borrowing limit - or a decline you didn't need.
How Infinity Mortgage Brokers can help
South West Sydney is full of family businesses, and we speak their language. Here's what you get with us:
- A review of your financials before anything is lodged
- Access to 40+ lenders, including full-doc and low-doc options
- An application that explains your business clearly
- Coordination with your accountant
- Honest advice on what's possible now and what would improve it
You run the business. We'll make the numbers make sense.
Ready to buy a home of your own?
Let's chat! Schedule a free introductory call with us now.
Can business owners in Bankstown get a home loan?
Yes, business owners in Bankstown can get a home loan. Lenders work out your income differently from an employee's, using tax returns and financial statements instead of payslips.
How income is established
Lenders review your personal and business tax returns and financial statements, and sometimes business bank statements, to settle on a dependable figure.
Why lenders differ
They treat add backs, retained profits and income paid through companies and trusts differently. One business can produce quite different borrowing limits.
A strong local base
The area has a large community of family run businesses, from shopfronts in Chester Hill and Fairfield to trade and transport operators.
Placing you with the right lender
Infinity Mortgage Brokers compares 40+ lenders to find the one that reads your income best. See our self employed home loans service and our guide to home loans for business professionals.
What documents does a business owner need for a home loan?
A business owner generally needs two years of personal and business tax returns, ATO notices of assessment and financial statements for a home loan. That is the standard for a fully documented application.
Extra items lenders may ask for
Lenders may also ask for recent business bank statements and confirmation that your tax and BAS lodgements are up to date.
If your returns are not ready
If your latest return has not been lodged, or last year does not reflect current trading, other options exist.
Alternative evidence
Certain lenders accept BAS, bank statements or an accountant's letter, as we explain in our guide to low doc home loans.
Preparing the file
Infinity Mortgage Brokers reviews the documents before lodgement for business owners from Bass Hill to Riverwood, so nothing is missing.
Can a business owner with low taxable income still get a home loan?
Yes, a business owner with low taxable income can often still get a home loan. Lenders can add back certain expenses that reduce taxable income without reducing cash.
Common add backs
Depreciation, one off costs and, in some cases, interest can be added back. That gives a higher and more accurate income figure.
Making add backs count
Lenders accept add backs that are clearly shown in your financials. Your accountant can confirm which expenses were non cash or one off.
If the returns still fall short
A low doc loan assessed on business bank statements, BAS or an accountant's letter may fit.
The trade off
Rates and deposit requirements differ between full doc and low doc loans.
Comparing the routes
Infinity Mortgage Brokers compares both side by side for business owners around Bankstown, Chester Hill and Villawood. More in our guide to self employed home loans.
How long must a business owner be trading to get a home loan?
Most lenders prefer a business owner to have two years of trading before approving a home loan. Some accept one year, and a few will consider less.
When less than two years works
Lenders are more flexible where you have solid experience in the same industry. A tradesperson who has moved from wages to contracting is a typical example.
What else lenders look at
Lenders also look at your GST registration, the evidence of income you can provide, and your deposit.
Low doc as an option
Where full financials are not yet available, a low doc loan may bridge the gap.
Matching you to a lender
Infinity Mortgage Brokers lines those details up with the lenders most likely to approve South West Sydney business owners. For trade businesses, see our guide to home loans for tradies.
