Home Loans for IT Contractors

Yes, and the right lender will use your current day rate to calculate a strong income figure. The challenge is that lenders vary widely, some annualise your rate generously, others take a conservative view, so the lender choice has a large effect on what you can borrow.

Not always. Some lenders treat established contractors almost like PAYG employees, using your current contract and a short history rather than two years of company financials. If you contract through a company, other lenders may want financials. We match you to the simplest viable path.

Often yes. If you have moved into contracting in the same field, some lenders count your experience and current rate rather than requiring a long contracting history. The available lenders narrow, but good options usually remain.

Generally no. Most lenders accept that IT contracts have natural breaks, as long as your broader history shows steady work at a consistent rate. The trick is choosing a lender comfortable with contracting, rather than one that reads every gap as a red flag.

It does. A company structure usually means a lender looks at business financials and add-backs rather than a simple day rate, so the lender that suits you may differ from a PAYG contractor’s. We work out which structure fits which lender for your situation.

The same deposit rules apply as for any borrower, with a 20% deposit avoiding lenders mortgage insurance (LMI) and smaller deposits possible with LMI or a guarantee. Your income assessment, not your contractor status, is usually the bigger lever, and that is where we focus.

Often, yes. The difference between lenders on contractor income is significant and not advertised. We match you to a lender that reads your day rate and structure generously, then present your file to get the strongest result.