A home loan that considers more than your base salary.
Your income might look different from a standard salary. Understanding how lenders assess commissions, bonuses and performance-based earnings can help you approach your next home purchase with greater confidence.
Home loans for commission earners
Buying a home with commission income
If a large part of what you earn comes from commission or bonuses, your income can look very different on paper to a fixed salary. That doesn’t mean it won’t be considered. It means it may be assessed differently.
Lenders set their own policies on variable income. Some may look at a longer earnings history, some may consider only part of your commission, and your documentation, employment history and existing commitments all play a part. Understanding those differences before you apply can help you approach your purchase with more confidence.
Good to know
Before you start looking
- No two lenders assess commission in exactly the same way.
- Your earnings history can matter as much as your latest result.
- Clear, consistent records make your income easier to assess.
- Advice before you apply can help you avoid lenders that may not suit your circumstances.
What lenders may look at
Five things lenders weigh up
Every lender has its own approach, but these are the areas most likely to shape how your application is assessed.
01
Base salary
Your regular, contracted pay. It’s usually the most straightforward part of your income for a lender to verify.
02
Commission and bonus history
How much variable income you’ve earned, over what period and how consistently. Some lenders may look at an average over time rather than your latest payment.
03
Employment history and consistency
Time in your current role and industry, and whether your earnings have been steady, rising or uneven.
04
Deposit and savings
The size of your deposit, where it has come from and your record of saving. These can affect how much you borrow and whether costs such as lenders mortgage insurance apply.
05
Existing debts and commitments
Car and personal loans, credit card limits, HELP debt and your living expenses may all be taken into account when a lender works out what you can borrow.
There’s no universal formula. Each lender weighs these factors in its own way, which is why the same income can lead to different outcomes.
First home or next home?
Different starting points, different questions
First home buyers
Getting into your first home
Saving a deposit while your pay moves with your results can make planning harder. We help you understand how lenders may view your earnings and what that could mean for your purchase.
- How your commission and bonuses may be treated
- Your deposit, savings history and upfront costs
- First home buyer schemes you may want to check your eligibility for
Upgrading or moving
Buying your next home
Moving up often means managing an existing loan, the sale of your current home and a larger purchase at the same time.
- Using the equity in your current home
- Timing the sale and purchase, including bridging options
- Whether to keep, sell or restructure your existing lending
How we help
From first conversation to settlement
01
We look at your full picture
Your income structure, savings, commitments and plans, so we understand where you stand before any lender does.
02
We identify suitable lenders
We compare how different lenders may assess your income and explain the options that may suit you, along with their trade-offs.
03
We coordinate the application
We help you prepare your documents, present your income clearly and keep things moving through to approval and settlement.
Home loan questions
What people often ask us
General answers to common questions. How they apply to you depends on your circumstances and the lender.
Ask us a questionCan commissions count towards my home loan application?
In many cases, yes. Lenders may include some or all of your commission in their assessment, depending on their policy, how long you’ve earned it and how it’s documented. The way it’s treated varies from lender to lender.
How do lenders assess annual bonuses?
Bonuses are often assessed with reference to what you’ve received in previous years rather than a single payment. Some lenders may use an average and some may consider only part of it. Evidence such as payslips, an employer letter and tax documents is usually needed.
What if I’ve recently changed sales roles?
It can still be possible to apply, but a recent move may affect how your income is assessed, particularly the commission component. Moving within the same industry, or into a role with a similar or higher base salary, may be viewed differently to a complete change. It’s worth getting advice before you apply.
Do lenders assess my total package or just my base salary?
It depends on the lender. Many will consider more than your base salary, but they may treat each part of your package differently, from base salary to commission, bonuses and allowances. That’s why two lenders can reach different conclusions about the same income.
What documents should I prepare?
Typically recent payslips, evidence of commission or bonus payments, an employment contract or letter, and possibly tax returns and notices of assessment. You’ll also need identification and details of your savings, debts and expenses. Requirements vary, so we’ll confirm what’s needed for your situation. Our how it works page has a fuller checklist.
Ready to see where you stand?
Tell us a little about how you earn and what you’re planning to buy. It takes two to three minutes and there’s no obligation.