What's the difference between alt-doc and low-doc?

Alt-doc uses alternative docs (BAS, accountant). Low-doc uses self-declaration.

How much more will I pay in rate?

Alt-doc +0.3-0.7%; low-doc +0.5-1.5%. Refinance after 2 years possible.

Can I get an alt-doc loan with only 6 months of trading?

Some lenders accept 6 months BAS. Most prefer 12+. We confirm.

Are halal alt-doc loans available?

Yes — Islamic providers offer alt-doc for self-employed Muslims.

Home Loan Refinancing

Who this guide is for

Australian buyers without traditional PAYG payslips — self-employed, contractors, business owners, freelancers — wanting home loans through alt-doc structures.

Self-employed sole traders without PAYG payslips
Company directors paying themselves dividends not salary
ABN contractors with invoice income
Cash-business owners with declared business income

The local picture

No payslips usually means automatic decline at major banks. The alternative — alt-doc and low-doc lending — uses BAS, tax returns, accountant's declaration, or bank statements as income evidence. Most general brokers don't handle these well.

How Mortgagefy helps locally

Mortgagefy specialises in alt-doc/low-doc lending. We identify the right structure for your specific income type, identify lenders comfortable with no-payslip applications, and document properly.

Free advice.

How it works — 4 simple steps

Free alt-doc chat

20-minute call about your income type and structure.

Compare alt-doc lenders

We identify lenders with the right structure for you.

Documentation strategy

We package BAS, tax returns, accountant declarations as needed.

Settle your home

You move in through alt-doc structure.

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 no-payslip home loans

Free 20-minute call about alt-doc and low-doc options.

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Home Loan Without Payslips in Australia: Alt Doc Lending