Lenders assess self-employed applicants on net profit after expenses rather than turnover, and the figure they accept varies widely. Most want two years of tax returns and notices of assessment plus current business financials, taking an average across the two years.

Where recent returns understate current trading, alt-doc lending assesses you on BAS lodgements, business bank statements or an accountant's declaration instead. Add-backs for depreciation, one-off costs and additional super contributions also lift the assessable figure once applied properly.

Logan carries a heavy concentration of sole traders, subcontractors and owner-drivers across the Slacks Creek, Berrinba and Crestmead industrial areas, so this is a file we write constantly.

See our guide to low doc home loans in Logan, or the business owners page.

Often yes. Some lenders accept a single full year of tax returns where you have a solid prior history in the same industry, and alt-doc products assessed on BAS or bank statements can work from a shorter period again.

Continuity matters more than duration. A tradesperson who worked as an employee for years and then started their own business under the same trade presents very differently to someone entering a new field entirely.

Under twelve months of trading is genuinely difficult, and if the purchase is not urgent, completing a first full financial year usually produces a better rate and a cleaner approval.

We will tell you plainly whether your file is ready now or whether a few more months materially improves it. See our self-employed home loans guide.

A low doc or alt doc loan verifies self-employed income without full tax returns, using BAS lodgements, business bank statements or a signed accountant's declaration instead. It exists for borrowers whose returns lag behind current trading, which is common after a strong year.

The trade-offs are a rate slightly above full-doc lending and a lending ratio that is often capped lower, commonly at 80% of value, so a larger deposit can be needed. The gap between lenders on both points is wide.

It is a legitimate mainstream product, not a last resort, and many established Logan business owners use it simply because it reflects their real position faster than waiting on returns.

Read our guide to low doc home loans in Logan, or call 1800 774 756.

On full-doc lending, the same as anyone else: 20% avoids Lenders Mortgage Insurance, and most lenders go to 90% with LMI, or 95% for strong applicants.

Alt-doc lending is where it tightens. Because the lending ratio is often capped lower, self-employed borrowers using BAS or bank statements commonly need 10% to 20%, and LMI is not always available, so the deposit does more of the work.

Genuine savings still matter. Lenders want to see the deposit built over time rather than appearing suddenly, and a gift needs documenting.

Check your position with our borrowing power calculator, then talk to the team on 1800 774 756.