Let's talk about your income
Income is one of the biggest factors in any home loan — and for first home buyers, it’s often the thing standing between “almost there” and the house you actually want. Understanding exactly how banks look at your income means you can spot where small changes could make a real difference.
How banks actually look at your income
Not all income is treated equally. Here’s the breakdown, from the most straightforward to the most scrutinised.
Wages and salary
Generally treated as solid, reliable income — banks will include 100% of it in their affordability calculations. If you’ve been in the role less than 90 days, or you’re on a probationary period, it can complicate things slightly. Moving into a similar role with no probation is usually fine after two to three weeks.
Overtime and penal rates
If overtime or penal rates are a permanent, consistent part of your role — nurses and police officers are common examples — this can generally be counted the same as your normal salary, as long as it’s provably part of your standard package.
Commissions and bonuses
Because these vary week to week, banks typically want to see two years of history to be confident it’s genuinely regular. A strong case can sometimes shorten that window, but purely performance-based commission is always looked at carefully — for good reason, since it can drop off if your performance does.
What about benefits and entitlements?
Working for Families and similar entitlements can generally be included, as long as they’re expected to continue. Where it gets tricky is anything with a built-in end date.
If your child is approaching an age where child support payments will stop, banks will still count the ongoing cost of raising that child — but not the income that helps cover it. Privately arranged child support also needs solid proof that it’s regular and ongoing.
Side hustles and part-time work
A lot of first home buyers are picking up extra work on the side — and it genuinely helps, both with borrowing power and with building your deposit. How it’s treated depends on the type of work.
Straightforward to include
If it’s a permanent part-time contract, this is treated much like any other wage. A casual contract can still count — but you’ll need to show consistent hours over a decent stretch of time, not just a few shifts here and there.
Needs a longer track record
Something like Uber driving is treated as self-employed income, which usually means two years of financials or tax returns. If you’ve only been doing it a few months, consistent platform data can sometimes help — though banks may only count around 50% of it rather than the full amount.
Increasingly accepted
Content creation and affiliate income used to be a hard no — that’s changing as it becomes more common. Some banks now accept it, but generally only once it makes up 10% or more of your total income.
Why it's worth checking
Every lender treats these slightly differently, and the details matter. An adviser can look at your actual income mix and tell you exactly what will and won’t count — before you apply.
Small extra income can make a bigger difference than you'd think
Your existing income is already covering your everyday living costs — so extra income on top of that can go entirely toward serviceability on a mortgage. That’s often why the additional income you actually need to qualify is a lot less than people expect.
The key thing is understanding exactly where you stand
Income can feel like a major hurdle on the way to your first home — but once you know how banks will actually look at yours, you can see clearly whether you’re ready now, or exactly what would get you there.
Let's talk about your income
We’ll look at everything you’ve got coming in — including anything extra — and tell you exactly where you stand, at no cost to you.
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