How long do you need to be in your field of employment before applying for a home loan to purchase a property?
Experienced Permanent Full-Time or Part-Time Position
If you’re in a full-time or part-time permanent position, and you’ve been in that industry for a number of years, you’ll only need one payslip. You may only need to be there a fortnight or a month before you get that first pay slip, and then you can apply for a loan.
In-experienced Permanent Full-Time or Part-Time Position
If you’re in a full-time or permanent position in a role or an industry that’s new to you, and you don’t have that previous experience, you’ll usually need to be in there for three to six months.
Casual Position
If you’re in a casual position, most banks will want to see you in that position for three to six months, in order to see consistency.
Self-Employed
If you’re self-employed, two years is the minimum that banks will want to see you in that role.
