Can I get a home loan with low income?

Estimated read time: 2 Minutes
Many people believe that if you have a low income, you’re not eligible for a home loan. But all is not lost - if your household income is supported by benefits outside of your standard employment income then your home loan dreams could still become a reality.
Can I get a home loan with government benefits as my income source?
You might find it difficult to obtain a home loan if Centrelink or other regular government payments are your only source of income.
The government benefits that may count as valid income include:
- Carers allowance
- Disability support
- Long term pensions (War/Widow's pension)
- Family Tax Benefits (Parts A & B)
Preparing for a home loan with low income
While having low income can make things challenging, there are some simple strategies you could implement to put you on the front foot when looking to secure a home loan.
Low income? We’re here to help
As a specialist lender, we consider alternative income sources, including government benefits when evaluating your loan application. Find out more information about the types of income we accept towards a home loan.
We’ll talk to you to fully understand your individual situation, as well as completing a personal credit assessment of each application to make sure we’re able to provide you with a loan that’ll meet your specific needs.
And most importantly, that won’t put you in a loan that you can’t afford. Want to know more? Read about our responsible lending practices.
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