Short answer: Yes. If you earn most of your income from gigs, contracts or your own ABN, you can absolutely qualify for a mortgage—provided you prove income stability and meet today’s serviceability rules.

Why This Matters Now

Australia has around 1.1 million independent contractors—about 7.5% of all employed people—so lenders are increasingly designing policies for non-traditional incomes.

Macro settings have also shifted in favour of borrowers. As of 12 August 2025, the Reserve Bank of Australia’s cash rate is 3.60% after its third cut this year, easing repayments for new and existing borrowers.

That said, lenders must still apply a built-in buffer when assessing your application. APRA requires banks to test your repayments at your actual rate plus 3 percentage points—so you need to show affordability even if rates rise.

Who Counts as a “Gig Worker”?

If your income is variable or comes from:

• rideshare and delivery apps (Uber, DoorDash, Ola),
• freelancing and contracting,
• ABN sole trading,
• creative or platform revenue (YouTube, Etsy, OnlyFans, Substack),

lenders classify you as self-employed. This means instead of payslips, you’ll be assessed on your business income. Banks often prefer two years of financials, but several lenders now offer streamlined or alternative verification when your recent income trend is strong.

What Lenders Look For

1. Income consistency
   Fluctuations are fine, as long as the 12–24-month trend is stable or improving.
2. Time in business
   Many major lenders still like at least two years of ABN activity, but some will consider 12–18 months under streamlined policies.
3. Serviceability under the buffer
   Your borrowing power is tested at your actual rate +3%.
4. Debt-to-income (DTI) ratio
   Banks monitor DTI closely. Ratios above 6x total income are usually flagged as high-risk.
5. Deposit size (Loan-to-Value Ratio, LVR)
   High-LVR loans (≥80%) are still common for first-home buyers, but larger deposits can offset variable income risk.

Documentation Paths

1. Full-doc (Major banks)

This is the standard route for established ABNs. Expect:

• two years of personal tax returns and Notices of Assessment,
• two years of business financials (profit & loss, balance sheet).

2. Streamlined self-employed (majors with updated policies)

Some banks have recognised the rise of sole traders and gig workers:

• Westpac offers a 1-year income assessment option that halves paperwork.
• ANZ has a streamlined verification path for company directors who pay themselves a wage, provided their ABN/ACN has been active for ~18 months.

3. Alt-doc (specialist non-bank lenders)

If your tax return lags behind your actual earnings, non-banks like Pepper Money, Bluestone and Liberty offer alt-doc home loans.

Evidence may include:

• recent BAS statements,
• 3–6 months of business bank statements,
• or an accountant’s letter confirming current income.

These lenders price loans based on risk, so interest rates may be higher than the majors, but approval chances are stronger for workers with non-traditional income.

Data Snapshot: Gig Economy & Lending

• Independent contractors: 1.1 million (7.5% of employed Australians).
• Cash rate: 3.60% after three cuts in 2025.
• Serviceability buffer: +3.00% mandated by APRA.
• High-LVR lending: Loans with ≥80% LVR made up ~32% of new lending in mid-2024.

How Gig Workers Can Boost Their Approval Odds

1. Show a clear income story
   Prepare a 12–24-month revenue summary, month by month, matching bank statements and BAS.
2. Reduce noise in your expenses
   Streamline discretionary outgoings before you apply (e.g. ride-share fuel, ad spend).
3. Lower your liabilities
   Pay down or cancel unused credit cards and BNPL accounts—lenders assess your full credit limits, not your typical usage.
4. Use alt-doc if needed
   If your business has grown significantly since your last tax return, use bank statements, BAS or an accountant’s letter to evidence real income.
5. Strengthen your deposit or add a guarantor
   A larger deposit or co-borrower can offset income variability.

Technical Specs (for Brokers & Power Users)

• Assessment buffer: Rate +3.00% (APRA guidance).
• Full-doc evidence: 2 years of personal tax returns + business financials; most banks average, some use latest year if income is trending up.
• Streamlined majors:
  • Westpac allows 1 year’s financials.
  • ANZ streamlined path for directors with regular wage + ~18-month ABN/ACN.
• Alt-doc evidence: 6–12 months BAS, 3–6 months business bank statements, accountant’s letter.
• LVR & pricing: Risk-based; ≥80% LVR common but attracts LMI or higher rates.
• DTI focus: Ratios above ~6x flagged as high-risk.

FAQs

Can Uber drivers and delivery couriers qualify?
Yes. You’ll be assessed as self-employed. If you can show consistent earnings and pass the serviceability test, you may qualify under full-doc, streamlined or alt-doc depending on your documents.

How long do I need my ABN?
Two years is the standard benchmark. However, some majors accept 12–18 months via streamlined rules, and alt-doc lenders may consider strong recent performance with bank statements and BAS.

Final Word

Yes, gig workers can and do qualify for mortgages. The pathway depends on how much paperwork you can provide, how long you’ve held your ABN, and whether you go through a major bank or a specialist lender. With the right preparation—showing income consistency, managing expenses, and possibly choosing an alt-doc solution—your gig income can get you the keys to a home loan.