Can You Get a Home Loan on Contract or Casual Work? Yes, Here’s How We Helped a Client Buy a $930K Property

If you're employed on a contract or casual basis, the idea of getting a home loan can feel like a dead end. You might have consistent work, strong income, and excellent money habits, yet banks still turn you away. Why? Because most lenders treat non-permanent income structures as inherently risky, even when the numbers say otherwise.

At I Know The Broker, we’ve worked with countless professionals in similar positions. Nurses, IT contractors, tradies, creatives, project managers, you name it. In many of these industries, contract work isn’t a sign of instability, it’s simply how the industry functions.

Here’s the truth many borrowers don’t realise; being casually or contractually employed doesn’t automatically disqualify you from getting a loan. But it does mean you need to work with a broker who understands how to navigate lender policy, position your income properly, and avoid wasting time on applications that were never going to be approved in the first place.

Let’s walk through a recent success story, one that highlights exactly how the right strategy, documentation, and lender selection turned a string of rejections into a $930,000 home purchase approval.

Real Client Story: From Flat-Out “No” to a Confident “Yes”

Our client works in a highly skilled technical role. Like many in his industry, his income comes from short-term contracts, often 6 to 12 weeks in duration with regularly new or returning clients. Over the past five years, he’d built a strong reputation, earned a consistent income, and had a proven track record of employment in the same field.

When he came to us, he was trying to juggle two goals:

• Refinancing two existing investment properties

• Purchasing a new home to live in
  

He had the financials to support it, but despite that, he kept running into roadblocks. His own bank, who had serviced him for years declined his application outright and so did several other major lenders. The reason? His income wasn’t “permanent” enough. They viewed the contract-based employment structure as too inconsistent to rely on, even though his history clearly demonstrated long-term stability.

The Strategy: Why It Worked

At I Know The Broker, we believe that success in these kinds of situations doesn’t come from luck, it comes from understanding the fine print of policy. Here's what we did differently.

1. We Knew Which Lenders to Target

Not all lenders are created equal when it comes to assessing non-permanent income. Some apply blanket policies that exclude contract workers entirely. Others will assess contract or casual income favorably if it’s structured and presented correctly. We knew from experience which lenders had an appetite for this kind of deal. We shortlisted those who consider long-term contract history a positive and who are open to flexible income documentation. Rather than casting the net wide and hoping for the best, we approached one lender who we knew would be open to understanding the client’s income structure.

2. We Did the Heavy Lifting on Policy and Servicing

We didn’t submit and hope. We ran detailed assessments using the servicing calculators of multiple lenders, aligning policy around:

• Required contract history duration

• Evidence of continuity between contracts

• Income averaging rules

• Accepted types of income verification
  

This deep policy research allowed us to identify exactly what the lender needed to see and what might cause problems. We also knew what not to include in the application, reducing the risk of unnecessary scrutiny or delay.

3. We Matched the Right Documentation to the Right Policy

Many people assume payslips are the only valid form of income verification. But when it comes to contract or casual income, that couldn’t be further from the truth.

In this case, the right lender accepted a combination of:

• Year-to-date income summaries

• Bank statements showing consistent deposits over a 12-month period

• Tax returns showing historical income from the same type of work

• Payslips when available
  

By structuring the application around the income documents this specific lender preferred and excluding unnecessary paperwork that might muddy the waters, we built a strong, clean case that aligned directly with policy.

The Outcome

Despite being knocked back by multiple other lenders, our client was approved for a home loan to purchase a $930,000 property on competitive terms that aligned with his broader investment goals.

He didn’t have to change jobs. He didn’t have to move into a permanent position. He didn’t need to wait six more months to “prove” income. All it took was:

• Targeted lender selection

• Deep understanding of income policy

• Proper presentation of documentation

Key Takeaways: Can You Get a Home Loan on Contract or Casual Work?

The short answer is yes, but it depends on how the application is structured and who’s submitting it. If you’re casually employed or working on a contract basis, here’s what matters most:

Lender choice is everything: Some lenders are simply not set up to assess non-permanent income fairly. Others can be incredibly flexible if the right story is told with the right evidence.

Employment history helps: A strong track record in your field, especially if you’ve worked in the same industry over time builds a compelling case for income continuity.

Documentation flexibility exists: Bank statements, tax returns, year-to-date income summaries and even letters from employers are ways to provide evidence of income. But every lender has their own preference.

Presentation matters: You can’t rely on a generic application to do the heavy lifting. It needs to be packaged strategically, with lender-specific nuances in mind.

Working with an expert broker changes everything: This is not a space where “tick and flick” broking gets results. It takes careful analysis, strong lender relationships, and detailed knowledge of policy.

Don’t Let One “No” Define Your Outcome

If you’ve been declined for a loan simply because your employment doesn’t fit a traditional mould, don’t assume that’s the end of the road. It might just mean you haven’t spoken to the right broker yet.

At I Know The Broker, we specialise in helping everyday Australians to navigate complex lending scenarios. We know how to position casual and contract workers to maximise their borrowing power without compromising on employment flexibility. So whether you’re looking to refinance, upgrade your home, or take the first step into the market, get in touch. You might be able to borrow more and sooner than you think.