Home Loan for Small Business
Owning a small business makes a home loan application more complex, but generally won't lower your chance of getting approved. Mortgages for small business owners that have been operating for less than 2 years will have the same restrictions as sole traders: see self employed home loan requirements for more information. The main difference when owning a small business is that the lender will want to see additional supporting documents: tax returns for the company, any trusts, trustees, and company directors (usually holding >25% share).
Small business home loans need not be difficult.
We can help walk you through the entire process, check your eligibility, affordability and help take the hard work out of applying for a home loan as a small business owner. Not sure how a Mortgage Broker can help you? Check out our self employed home loans page. Not self employed? Look at our Mortgage Broker Brisbane page.
|Requirements for a small business owner home loan:|
|Have all financial documents up-to-date.|
|No minimum trading time necessary, however 2 years recommended for a competitive home loan.|
|Lower interest rates available at 80% LVR.|
|Vacant land and construction excluded when trading for less than 2 years.|
|Features of a small business owner home loan:|
|Fixed and variable interest rates.|
|Credit impairments acceptable at lower LVRs.|
|Secured by residential security. Commercial security available under alternate product.|
|Competitive interest rates after 2 years trading.|
|Minimum loan amount of $50,000.|
FAQ about our small business owner home loans:
What's different between being a sole trader and a small business owner?
Not much when it comes to a finance application. Being incorporated will just require additional documents be provided to support your application.
Do you charge for your service?
No. The lender pays us a commission for a successful application so you needn't pay us anything.
Can you do after-hours appointments?
Yes! After-hours and weekend appointments are welcomed, although your finance application will generally only be processed on week days.
Do you only service Brisbane?
We can do self employed home loans all over Australia, often over the phone. Our Mortgage Broker is however based in North Brisbane, and as such can service all surrounding areas in person: Albion – Alderley – Ascot – Aspley – Bald Hills – Banyo – Boondall – Bracken Ridge – Bridgeman Downs – Brighton – Brisbane Airport – Carseldine – Chermside – Chermside West – Clayfield – Deagon – Eagle Farm – Everton Park – Fitzgibbon – Gaythorne – Geebung – Gordon Park – Grange – Hamilton – Hendra – Kalinga– Kedron – Keperra – Lutwyche – McDowall – Mitchelton – Myrtletown – Newmarket – Northgate – Nudgee – Nudgee Beach – Nundah – Pinkenba – Sandgate – Shorncliffe – Stafford – Stafford Heights – Taigum – Virginia – Wavell Heights – Wilston – Windsor – Wooloowin – Zillmere.
Will a credit check be required?
We can pre-asses your application without a credit check, however the lender will be required to do one upon application.