Low Credit Score, Multiple Jobs, Temporary Visa – Still Approved

After renting the same property for over 10 years, Jerome and his partner had grown attached to the place they called home. So when the opportunity came to buy it, they knew they had to try. They had saved diligently and were ready to take that next step, but getting a home loan wasn’t as easy as they had thought.

The Challenge: Casual Jobs, Visa Status, and Credit Score Concerns

On paper, the couple looked like a risk to most lenders.

Jerome, an aged-care worker, supported the household in three roles – two full-time and one casual. His partner worked in a mix of roles, including a full-time position in care services and two casual jobs. Their combined income of around $194,000 was strong, but the structure raised concerns. It was spread across multiple employers and included casual work, which many lenders view as less stable.

There were other barriers, too. Jerome was on a temporary visa, and his partner, although a New Zealand citizen, faced similar limitations with mainstream lenders. To make matters more difficult, their credit history wasn’t in ideal shape.

They were looking to purchase the home for $400,000, which was a favourable price compared with its market value, and needed to borrow about $365,000. This meant taking out a loan with a high LVR of 94%, including Lenders Mortgage Insurance. Combined with their visa status, employment type, and credit history, most lenders considered the application too risky and decided not to proceed.

Googled Their Way To Expert Help

Frustrated and starting to feel out of options, the couple turned to Google, hoping to find someone who might actually understand their situation. That’s when they came across Home Loan Experts and were connected with broker Rojan Paudel.

On the first phone call, Rojan could sense their hesitation. They had been told no many times before. Their situation wasn’t unfamiliar to him. He had worked with similar complex cases before and reassured them that it wasn’t impossible. They just needed the right strategy.

Getting The Application To Tell The Right Story

Rojan started by helping them understand where their application stood and what lenders’ focus would probably be. The first priority was their credit. It had held them back in the past, so Rojan walked them through what was affecting their score and what they could realistically do to improve it.

He laid out specific steps, like clearing small overdue accounts, managing credit-card limits, and avoiding unnecessary credit checks. He also explained how lenders would view their credit activity in the months ahead. It wasn’t a quick fix, but they stayed on track, and over time, their position started to improve. That alone helped open more options later in the process.

Next, he looked at how their income was structured. While some lenders saw it as inconsistent, Rojan saw stability in their work history and the reliability of their earnings, even across multiple jobs. He made sure that came through in their application. That made a big difference.

Throughout the process, Rojan kept in regular contact. Whether it was a question about paperwork or a moment of doubt, he made sure they always felt supported. Even during the holiday period, when things typically slow down, he kept things moving to make sure they didn’t lose momentum or miss deadlines.

The Right Fit Found

After weeks of preparation and careful negotiation, the hard work paid off. Rojan found a lender who was willing to work with their situation. They were open to a high LVR, accepted multiple sources of income, and had a more flexible view of credit history.

Their application was approved for a loan of just over $365,000. It came with features that suited their long-term needs, including a 100% offset account, redraw facility, and the ability to make extra repayments. More importantly, it gave them a way forward.

The Loan Structure

Interest rate: 6.14% (variable)

Term: 30 years

LVR: 94% (including Lenders Mortgage Insurance)

Loan amount: $366,670

Features: 100% offset account, extra repayment option, redraw facility

From Renters To Homeowners

The settlement day marked the end of years of renting and the beginning of genuine stability for Jerome and his partner. They were no longer just living in the home they loved. It was finally theirs.

The couple thanked Rojan for listening, guiding them through the process, and always being available when they needed reassurance. What stood out most, they said, was his commitment, especially during the more stressful periods. It really left a lasting impression.