Getting a home loan with non-standard income
Real life loans for real people
Real life loans for real people
Many people believe that if you have a low income, you’re not eligible for a home loan. However, if your household income is supported by benefits outside of your standard employment income we will take this into consideration. Even if you have a poor credit rating you might still be eligible for a home loan with Pepper Money.
What income sources are considered for a home loan?
At Pepper Money we consider different kinds of financial sources when evaluating loan applications. We look at part time employment, rental income, or regular government payments, and also allowances like Centrelink payments, child support payments, pensions (disability, retirement, overseas, veterans, etc.), and other money sources that you may have.
Some of the income sources we accept
Estimate your home loan repayments with our calculator below, and then just answer a few more questions to find out how much you could borrow and your indicative interest rate.
Important Information
This repayment calculator gives you an estimate of what your home loan repayments could be, based on information you have provided in the calculator. The calculator does not take into account loan establishment or application fees, nor government statutory or lender fees. It is to be used as a guide only and does not constitute a quote, pre-qualification, approval for credit or an offer for credit and you should not enter commitments based on it.
Ready to apply or want to discuss your home loan needs?
Here are some FAQs about applying for a Pepper Money home loan with non-standard income.
You will need to have documents supporting your current financial position such as recent bank statements, payslips or other proof of income, personal identification and a snapshot of your current asset and liability position.
For PAYG applicants we require two current payslips plus one of the following:
For Self-Employed applications we need your last two years Tax Returns, two years Tax Assessment Notice and & last 1 month’s business bank statements. If you are self-employed and unable to provide this documents, you may still qualify for an alternative documentation (alt doc) loan. For more details click here.
At Pepper Money we can finance home purchases of up to 95% LVR, which means you can start to look at buying a house once you’ve saved at least 5% of the purchase price.
Remember, there can be extra costs involved when buying a house. You’ll often need to cover government and legal fees after settlement, which can’t be added to your home loan balance.
At Pepper Money, we offer a range of variable interest rates depending on your individual circumstances and the product you apply for. A decision on your rate will be based on a range of different factors including;
Click here to learn more about our home loan products, or to get an indicative interest rate speak to one of our Lending Specialists on 137 377.
There are fees and charges associated with every home loan which should be factored in when saving your deposit. For example, establishment/application fee, monthly administration fee, legal fees, stamp duty and mortgage risk fee (if applicable).
Get in touch with one of our Lending Specialists on 137 377 to understand the full list of fees on a Pepper Money home loan and when these might apply. Alternatively you can view a high level summary of our home loan fees here.
Your Pepper Money Home Loan Journey can take up to six weeks – this is the typical timeframe for a home purchase, however the process may be quicker if all the necessary documentation is provided sooner.
Delays in decisions are often caused by incorrect or missing documentation.
To learn more about Pepper Money Home Loan application process, click here or for more information speak to a Lending Specialists on 137 377.
Our home loan borrowing capacity calculator asks a few personal and financial questions to calculate an estimate of how much you may be able to borrow with Pepper Money. After finding out how much you could potentially borrow, you can then either speak to a lending specialist about your situation, or continue on to get an indicative interest rate online.
We are Australia’s number 1 non-bank lender - we’ve been awarded Best Non-Bank Lender three times – in 2017 and 2019 at the Australian Mortgage Awards and in 2018 at the Australian Lending Awards.
We live our mission every day: to help you succeed.
We specialise in working on each individual application so we can fully understand your real life situation and help find a suitable solution.
We were set up in 2000 to provide a fresh alternative for those people who needed a home loan that banks weren’t prepared to offer. We now also provide car loans, personal loans, loans for professional equipment, and commercial loans. Learn more about us here.
To see the full home loan FAQs, click here.
Important Information
All applications are subject to Pepper's credit assessment and loan eligibility criteria. Terms, conditions, fees and charges apply.
Here are some handy tips and guides to help you get started with a home loan with non-standard income.
For more of your questions answered visit our Help Centre.
Please contact us sooner rather than later.
If you are experiencing financial difficulty please apply for assistance here or contact us on 137 377.
Important Information
Note - All applications are subject to Pepper's normal credit assessment and loan suitability criteria. Terms, conditions, fees and charges apply.