How long after returning to work can I get a home loan?

3-12 months back at work depending on lender. Reason for gap matters.

I was made redundant 6 months ago. Just got a new job. Can I apply?

Yes — same-industry re-employment with 3+ months in new role helps.

I took 2 years off to raise my kids. How is that treated?

Caregiving career break understood. Stable current employment is what matters.

I'm a recent graduate after a gap year. Will banks lend?

3-6 months in first professional role typical. Industry qualification helps.

Should I wait longer before applying?

Depends on urgency. Right lender allows earlier application; otherwise wait.

Home Loan Refinancing

Who this guide is for

Australians wanting to buy a home after a gap in employment — career break, redundancy, study, extended parental leave, recovery from illness.

Workers returning to PAYG after career break
Recently re-employed after redundancy
Returning to work after extended parental leave
Recently completed study and starting first professional role

The local picture

Employment gaps worry banks. Some decline outright; others want extended re-employment periods. The reason for the gap, your industry continuity, and current job stability all matter.

How Mortgagefy helps locally

Mortgagefy works with lenders that understand career gaps with proper documentation. We help frame your situation and identify lenders comfortable with re-employed borrowers.

Free advice.

How it works — 4 simple steps

Free chat

20-minute call about your gap, current role, and target home.

Compare lender options

We identify lenders flexible with employment gaps.

Application support

We document your career narrative and current employment stability.

Settle into your home

You move in after the gap.

Frequently asked questions

We use offer letters and vesting schedules to value RSUs conservatively. We present current vesting value + projected future vesting as a 3-5 year income average. This gives lenders confidence in your income stability while accounting for market volatility.

Both. We work with W2 employees, 1099 contractors, and consultants. For contractors, we use 2 years of tax returns plus business financials. We have lenders who specialise in contractor income—they understand the variability.

Unvested options have zero value for refinancing. We count only vested equity. If you have a 4-year vest, we use 25% of the grant value (what's vested) plus a conservative projection of future vesting.

If you've been in your new role 6+ months, most lenders will refinance. We'll use your offer letter plus 6 months of pay stubs. If less than 6 months, it's harder but possible with specialist lenders.

Yes, if you have 2+ years of bonus history. We average the past 2 years and present it conservatively. Some bonuses get counted at 50% to be conservative with variable compensation.

ESPP is counted as deferred compensation. If your company matches or you have a discount, we value it as part of total compensation package.

Talk to us about home loans after a job gap

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Start Your Free Assessment Call 0432 634 648

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Home Loan After a Job Gap: Buying After a Career Break