Some banks don’t have a problem with new jobs!

Many people decide to buy their first home or investment property once they have found a stable job with a good income.

Unfortunately, many banks won’t lend to people who’ve only been employed for a short period of time.

Just started a new job?
Talk to our experts to get a free assessment.

Can I get a home loan if I have just started a new job?

Banks are generally reluctant to lend to people who’ve been working less than 6 months.

  • Most banks require you to be in your current position for a minimum of 6 months to 12 months to borrow 80% of the property value.
  • One of our lenders can allow you to borrow up to 95% of the value of the property, even if you’ve just started a new job.

Please fill in our free assessment form or contact us on 1300 889 743 to speak to a specialist mortgage broker who can help you get approved.

New Job Home Loan Calculator

Job details

How long have you been in your job?
Was your previous job in the same line of work?
What % of the property value are you borrowing (LVR)?
Do you have 5% in genuine savings?

Contact a mortgage broker

Talk to one of our mortgage brokers about your situation: Yes No  

Which lenders can help?

Not all lenders require that you to be in your job for more than a year. In fact, many lenders understand that younger generations are in high demand, are highly skilled and are career opportunists that actively change jobs to seek a higher salary or better working conditions.

To find out which lenders can help to you, please call us on 1300 889 743 or free assessment form today.

Only been in your job for 1 month?

Some banks recognise that despite a short employment history, many individuals are in a strong financial position and have industry experience.

Our best lender for people in new jobs can approve home loans for people who have been in their job at least one day on a case by case basis. They have no problem with people who have been in their new job for 1 month, 3 months, 6 months or more.

How much can I borrow?

You can borrow up to 90% of the value of the property that you’re buying. If you’re in a strong financial position then a 95% loan may be available. Discounted professional packages, basic loans and lines of credit are also available.

What if I’m changing jobs?

Many of our customers call us because they’re in the process of leaving their current employer and starting a new position elsewhere. In most cases, they have extensive experience in their industry and are moving jobs to take advantage of a better offer or have been head-hunted by a recruitment agent.

It’s best if you contact us prior to leaving your old job as we can then let you know how this will affect your ability to borrow money.

For most people we can find a lender that will help, however if you’re changing to a new industry or a completely different role (e.g. a police officer becoming a bank teller) then this will reduce your chances of getting an approval.

What do the banks think?

Most lenders won’t generally approve a loan for you while you’re in the process of switching to a new employer. However there are a few major lenders with competitive interest rates that can consider approving your home loan before you have commenced your new role.

The view of these lenders is that if you have stability with your prior employers then it’s likely that you’re moving to a new employer to take advantage of a better salary or working conditions.

If lenders believe that you were fired from your old job or were let go during your probationary period for your last job then they’re unlikely to approve your mortgage application.

How can I get approval?

Depending on the lender, they may require you to commence the new job prior to issuing your formal loan approval. In other cases, if your income from your existing job is sufficient to repay the loan, they can approve your loan on that basis.

To discuss your situation with a specialist mortgage broker, contact us on 1300 889 743 or free assessment form today!

Why are most lenders so conservative?

Many lenders are very risk averse and are concerned that if you’ve not been in your job for very long then you have a higher chance of leaving your job or your employment being terminated during your probation period.

Apply for a home loan today!

Here at Home Loan Experts, our mortgage brokers have extensive knowledge of the guidelines used by Australian lenders.

Please complete our free assessment form or call us on 1300 889 743 to discuss your situation with a mortgage broker who will help you find a lender that can accept your short term employment.

  • Kramer

    I’ve just recently joined a new job (been 2 weeks) and I’d like to borrow 90% to buy a house. You stated that one of your lenders can do up to 95% so can I qualify?

  • Hey Kramer,

    For a 90% LVR home loan, lenders will generally want to see a clean credit history, timely repayment of debts, good income and at least 5% in genuine savings (not always necessary though). If you can meet these requirements, please call us on 1300 889 743 to discuss in detail with an expert mortgage broker.

  • Howell-Price

    I’m still on probation and I have no idea whether or not I can qualify for a home loan. Anything that can help me with that?

  • Hi Howell-Price,

    Even if you’ve been headhunted and so started a new job and are getting a great salary, banks usually have a problem and they can tell you that you’ll have to wait until you’ve completed probation. However, not all banks think the same way so you can try out our probation calculator to see if you qualify for a home loan:

  • Ric Hur

    Hi my loan is provisional approved for building my house. I’m waiting for the land to register. Unfortunately I have to change my 5 year job due to lost of contract by the company. Already started a new job, same industry. How is that gonna affect my loan. I’m borrowing less than 80%.

  • Hi Ric
    It depends on the lender. I’d say likely you will be ok as they have preapproved your construction portion, same line of work and they want you to build.
    If it’s a problem we can refinance and in most cases beat the rate as well. Probation doesnt affect your rate. It’s just that some lenders dont do it.

  • Angelina H

    I’ve just started my career in the education sector and I’m thinking of getting a home loan soon with Teachers Mutual Bank. I want to know what types of applications they are great at handling and what they may be bad at.

  • Hey Angelina H,

    We have an expert’s review on Teacher Mutual Bank where we’ve listed out the strengths and drawbacks of their bank, the home loan types they have on offer as well as a real life client story. You can check it out here:

  • Devraj Ghimire

    Hi there, Me and my spouse started a new job in a new place. We both are casuals and our combine weekly income is $1600. I want a home loan range between 400k -$450k and want 75-80% finance. Am I eligible for it? Thanks

  • Hi Devraj,
    Potentially yes you are eligible. Once you are three months in your role then you definitely qualify. With less than a 3 month history we can potentially assist if we can confirm the amount you earn
    In other words if your income fluctuates a lot then we need a 3 month history whereas if you work 3 days a week and we can see this from your payslips then a shorter work history will be fine.
    If you’d like our help then please click here

  • Paul

    Yes, you can borrow up to $530k with peppers. Give them a call or better get a broker to negotiate on your behalf.

  • SiriLejeune

    Hi there, I got headhunted and offered a job in the same industry (digital marketing) but now as a manager in stead of executive. I will earn more and even work closer to where we want to buy. I have been working in digital marketing in Australia for over 2.5 years. My partner has been in his job for over 2 years. We want to apply for 95% LVR in August, would it be wise to take the offer or would this affect our mortgage application?

  • Hi SiriLejeune,

    Yes, it will affect your mortgage application but we can still help you borrow up to 95% of the property value as long as you meet all other standard bank criteria including having a clear credit history.

    Whilst most lenders require that you be working in your job for 6 months or more, we know several other lenders that can assist as long as you’ve been in your new job for at least 1 month. One of the banks we work with can actually accept people who have been in their employment for even just one day! If you haven’t yet started your new job then your loan may be approved subject to you providing an employment letter once you’ve completed your first day.

  • Ron

    I applied with a lender few weeks back but I found out that they won’t accept me because I joined a new job and am on probation. They said their lmi provider didn’t accept this. Will they accept once I complete probation?

  • Hi Ron,

    Yeah some banks and LMI providers don’t accept applicants who are on probation. You’d typically be eligible for a home loan with them once you complete probation and can meet their standard lending criteria. If you’d like to get a home loan now to avoid losing out on a property, we can help you. We know lenders that can accept you even if you’re on probation. Please call our office if you’re interested.

  • Shay

    Im in the process of selling 2 of my houses and will come out with roughly 50-60k (capital gains tax killed me) and would like to go for another home loan, but my partner and i are only recently in our new jobs, ive been in my job for 6months now with the same shifts every week. Partner has been in job casual for 2 months with 4-5 shifts a week (changes every week) will we still qualify for a loan?

  • Hi Shay,
    We can get you approved once your partner is 3 months in their job. Because their hours change each week a 2 month history wouldn’t be sufficient for a bank to work out what their income is.
    I’d recommend that you contact us now we can complete an assessment now (to make sure everything else is ok) and then lodge the application in one months time.

  • Sushovan Mallick

    I am in software profession nd I am a fresher and I have a education loan of 264000 rs. I want to borrow home loan within 12 months or 18 months. Can I get home loan???

  • Jafar Ayyami

    Hi, I ve been employed for 4 months as full time worker and my earning is 720 weekly and my wife is on Centrelink and I want to buy a house with my father in law who is working as part time worker , can we borrow 90 percent of a 670k with deposit of 10 percent as first home buyer?? Thanks

  • Hi Jafar,
    This may be possible assuming that you can afford the loan. We’d need to complete a full assessment and determine this.

  • Clarke1

    I just started my new job a month ago as a correctional officer in an age care hospital (no probation). I was working in the same role in an asylum previously for 4 years. I’m planning to buy a house. Can I apply for a home loan and not get rejected due to my new employment?

  • Hi Clarke1,
    There are few banks that could accept your application despite you having a short employment history, and if there’s no probation it’s even great. Overall, they would want to check the strength of your financial position, credit history and whether you have industry experience or not. Fill in our free assessment form or contact us on 1300 889 743 to speak to a specialist mortgage broker who can help you get approved.

  • Greg


    I am a part time accounting student currently working as an entry level accountant in a hospitality company/franchise. I have a 6 year Front of House hospitality (inc management) background. I want to pick up a second job in a similar role to my roles in the previous 6 years giving me a combined salary between 70-80K per year between both roles. I plan to work there to buy in Feb 2019 and having 5% genuine savings by that time. I will have no CC or Loan debts by this time and I currently have minimal living expenses as I live with my parents (rent free). I am looking for a house around the 450K-500K mark. My parents are happy to be my guarantor for me. I would like to ideally buy an investment property or purchase my first home to live in and rent out after the mandatory living period..

    As my current situation requires me to take postpone my graduation date would the actions I take above allow me to qualify for a 450K-500K home/investment loan? I am a first home buyer (NSW)

  • Hi Greg,
    Yes you should qualify for a home loan despite being in a new job. Some lenders want a long history in a 2nd job before they accept that income. However we can usually get an exception.
    We’d have to assess your borrowing power to see if buying it as a home would work or if you would need to rent it out to be able to afford it. It’s quite common for first home buyers to instead be ‘rentvestors’ these days and to rent out their property for a few years until they have a higher income and can afford to move in.

  • AYoung

    I started my new job less than 3 months ago. It’s a full-time, permanent role and my probation is about to end of this month. I should also mention that I’ve been working in the same industry for the past 3 years. I want to buy a property worth $450,000 and looking to borrow 90% of the property price. Are there other banks who will consider me for a home loan?

  • Yes Ayoung, there are some lenders who’ll consider you for a new job home loan. One of our lenders will even allow you to borrow up to 90% of the property value even if you’ve only changed jobs recently. With most lenders, you will actually need to have been in your role for at least 12 months (or 6 months as an exception).
    However, in your case, some lenders will consider the fact that you have more 12 months in the same line of work. To qualify, you must have a clear credit history, have a minimum of 5% in genuine savings and meet all other standard approval criteria to qualify. Call us on 1300 889 743 and know how we can assist you.

  • Rachel

    I’m a mechanical engineer looking to purchase a property for the first time. I make around $90,000 a year and I started working 4 months ago. I also happen to have a perfect credit history. Can you tell me if I am eligible for a 90% home loan?

  • Your income, profession and clean credit history will go a long way to helping you borrowing 90% of the property value. You may even qualify for home loan discounts as an engineer: However, the fact that you have less than 12 months’ employment history can be a problem with some lenders.. Call us on 1300 889 743 or fill our online enquiry form to discover if you’re eligible.

  • Hubert

    Hi, I’ve gotten an unconditional approval for a home loan with a long settlement period (15th June). The problem is since receiving the approval I’ve been made redundant at work. This redundancy is likely to happen before settlement. Do I need to let the bank know? Will they cancel our loan as a result? I have no concerns about finding another job in the industry I’m in.

  • Hi Hubert,
    Sorry to hear about the job loss. It is best to inform your bank about your situation. They would likely want to see a new employment contract before settlement.

  • Danni van den Bosch

    Hi, so I’m trying to go on a home loan with my partner. He works full time and I just returned from maternity leave with casual employment with my job of 5 years. Do they take into account my payments from paid parental leave as an income for a estimate of my annual income for work? Cause they didn’t calculate it on our pre approval enquiry. Somehow they think I’ve only done 10 thousand but plus 12 thousand in paid parental leave pay from my employer which I was taxed for. Doesn’t seam right? I also have a second job but they wouldn’t look at it until I’ve held it for 12 months?