Self Employed Loans
At Rizon Finance, we're Mortgage & Finance Brokers helping self-employed Australians fund their property purchase
Rated 5 from 7 Reviews
At Rizon Finance, we're Mortgage & Finance Brokers helping self-employed Australians fund their property purchase
Rated 5 from 7 Reviews
For many Australians, buying a home is a significant milestone that often requires navigating the complexities of loan applications, especially for the self-employed. At Rizon Finance, we understand that small business owners, contractors, and freelancers face unique challenges in securing a loan. As specialist Finance & Mortgage Brokers, we offer tailored Self Employed Loan options, providing access to a diverse range of banks and lenders across Australia. Whether you are seeking a variable or fixed interest rate loan, our team is committed to helping you achieve your property ownership goals with ease.
Applying for a Self Employed Loan can seem daunting due to the distinct requirements in loan applications compared to traditional employed applicants. One important factor is income verification, often needing more robust documentation such as bank statements to establish a steady income. At Rizon Finance, we assist you in gathering and presenting your financial situation effectively to boost your borrowing capacity. This streamlined application process helps ensure that your credit history and self-employed income verification align perfectly with lender expectations, increasing your chances of securing the best possible deal.
Interest rates for Self Employed Loans can vary significantly, making it crucial to understand the difference between fixed and variable interest rate loans. A fixed interest rate loan offers the security of predictable repayments, beneficial for those budgeting tightly. Variable loan rates, however, might attract those who anticipate future interest rate discounts as they allow fluctuations with market trends. At Rizon Finance, we evaluate all Self Employed Loan interest rate options, supporting you in calculating loan repayments accurately so you can make an informed decision about what's right for your circumstances.
Managing Lenders Mortgage Insurance (LMI) and understanding loan-to-value ratio (LVR) is another crucial element in securing a Self Employed Home Loan. LMI can often increase the loan amount significantly if your deposit is below 20% of the property’s value. However, some lenders offer LMI waivers, particularly if you can demonstrate a stable financial history and a healthy credit history. We work closely with you to maximise your borrowing capacity and, wherever possible, secure an LMI waiver. Furthermore, navigating other costs like stamp duty becomes seamless with our guidance, ensuring all aspects of buying a home are comprehensively handled.
The application process doesn't end with just meeting the basic requirements. Rizon Finance also assists you in getting pre-approved to access Self Employed Loan options quickly. Pre-approval is an advantageous step when engaging with the competitive Australian property market as it positions you favourably against other potential buyers. This pre-emptive approach also allows you to accurately estimate the loan amount you can secure, providing clarity and confidence in the home-buying journey.
In conclusion, securing a Self Employed Loan requires a considered approach tailored to the unique financial circumstances and needs of self-employed individuals. As your dedicated Finance & Mortgage Brokers, Rizon Finance is committed to providing comprehensive support through every step of the Self Employed Loan application process. From helping you apply for a Self Employed Loan to exploring various Self Employed Loan options and rates, our mission is to empower you in buying a home with confidence. Reach out to us today to begin your journey towards property ownership, backed by expertise that prioritises your financial future.
JS
Jayden Shepard
Dan was extremely helpful and knowledgable. Helped us with all our questions with a fast response each time and got us ...
AM
Ashlea Miller-Pickersgill
Dan helped us get a house after being out of the market for a year or so. We've sold and bought houses previously but this time was definitely the easiest and most relaxed. Even being in a different state his programs were easy to use when ...
aj
anthony jones
daniel was amazing to deal with nothing was to much trouble when it came to helping us highly recomended
The Australian Government offers a number of schemes to assist first home buyers, such as:
• A $10,000 First Home Owner Grant when building a new home valued under $750k
• Stamp duty exemptions for properties valued less than $600k
• Concessional stamp duty rates on properties valued at $600-750k
• Access to shared equity and 5% deposits through the Victorian Homebuyers Fund (VHF)
• Federal schemes, including the Home Guarantee Scheme, Help to Buy, and First Home Super Saver Scheme (FHSSS)
Rizon Finance specialise in this area as we understand it can be a challenge as not all lenders would consider these circumstances. We have access to niche lenders that accommodate this type of lending.
There are a variety of home loan products available, each with its own features and benefits. Some common types include:
• Fixed-rate loans: Offer certainty in your repayments over a fixed term.
• Variable-rate loans: Interest rates can fluctuate with market conditions.
• Interest-only loans: You only repay the interest on the loan for a set period, then begin repaying the principal amount.
We can explain the different loan options and help you choose the one that best suits your needs.
We certainly can. We help you navigate what assistance may be available to you as we understand getting your foot on the ladder as a first home buyer can be a difficult and daunting process.
We understand there are many reasons why people may experience forms of financial difficulty/credit problems and work with each scenario to understand them. Rizon Finance can speak to each lender to fight your case to secure lending.
The comparison rate is a more accurate reflection of the true cost of a loan than the advertised interest rate. It includes the interest rate as well as most fees and charges associated with the loan. Comparing the comparison rates of different loans will help you find the most cost-effective option.
Rizon Finance can understand your business and source great deals for Self-employed applicants.
We’re more than just a home loan broker—we’re your partners with all your borrowing needs. Here’s what sets us apart:
• 💰 Free, Transparent Advice - lenders pay us for the service. Any commissions we will receive are disclosed before you proceed.
• 🔍 Extensive Lender Network: Access to top banks and many specialist lenders across Australia.
• 🏡 Tailored Loan Options: Whether you prefer variable rates for flexibility or fixed rates for stability, we’ll find the best fit for your circumstances
• 💡 Expert Guidance on First Home Buyer Grants: We help you navigate grants, stamp duty concessions, and more to save you thousands.
• 📲 Convenient & Mobile: Need an online mortgage broker or prefer a face-to-face meeting? We’re flexible to suit your needs depending on where you reside.
There are many benefits to using Rizon Finance. Here are a few:
• Access to a wider range of lenders: Rizon Finance work with a large and reputable panel of lenders, so we can find you a loan that best suits your needs and financial situation, even if you don't qualify for a loan from your own bank.
• Personalised service: Rizon Finance take the time to understand your individual circumstances and goals, and then recommend the best loan options for you.
• Expertise in navigating the loan application process: Rizon Finance assist with all the paperwork and liaise with lenders on your behalf, saving you time and stress.
• Compliance: Rizon Finance operate in a highly regulated environment and provide recommendations. Therefore, we have a duty to all our clients to provide appropriate products in the best interests of our clients
The amount you can borrow will depend on a number of factors, including your income, expenses, savings, credit score, and the property value. We can help you determine your borrowing capacity and ensure you borrow responsibly.
The documents you will need to provide will vary depending on your individual circumstances and lender, but some common documents include:
• Proof of income (payslips, tax returns)
• Photo ID
• Bank statements
• Evidence of savings deposit
• Details of the property you are purchasing (contract of sale)
• Details of assets
• Statements for liabilities
Rizon Finance will provide you with a complete list of required documents once we begin working with you.
The loan application process typically takes 4-6 weeks, but this can vary depending on the complexity of your application and the lender's processing times. We will keep you updated throughout the process.
Busy schedule? We’ve got you covered! Our remote service means we are not tied to a desk and an office. All meetings can be done virtually and information shared via our simple system that you will be given access to. This makes the process quick and simple saving us both valuable time to get the paperwork done.
Don't despair! We can help you understand why your application was declined and work with you to improve your chances of approval in the future. This may involve improving your credit score, saving a larger deposit, or finding a guarantor.
Rizon Finance do not charge you any fees. We get paid a commission by the lenders. All commissions are disclosed and discussed upfront before you proceed with an application.
In addition to your mortgage repayments, there can be a number of ongoing costs associated with a home loan, such as establishment fees, account fees, and lenders mortgage insurance (if applicable). Rizon Finance will help you understand these costs and factor them into your budget.
Rizon Finance ABN: 90 232 048 159, Tomlinson, Daniel ABN: 90 232 048 159. Credit Representative #561000 is authorised under Australian Credit License #384324.
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
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