Will any bank lend if I'm on probation?

Yes — many lenders accept probation. Industry continuity matters more than employer length.

I just got my first Australian job. Can I buy a home?

Harder — some lenders want 6-12 months Australian PAYG. Some flexible with overseas experience.

What documents do I need to provide?

Employment contract, last 2 payslips, prior employer reference, industry continuity evidence.

Should I wait until probation ends to apply?

Depends on urgency. Several lenders work with early probation; waiting simplifies if no rush.

Can my partner's established income help while I'm on probation?

Yes — joint applications where partner has stable income work well during probation.

Home Loan Refinancing

Who this guide is for

Australian employees on probation at a new job who want to buy a home — including job-changers, recent migrants in their first Australian job, and graduates.

Recently changed job and on 3-6 month probation
Recent migrants in first Australian PAYG job
Recent graduates starting their first professional role
Industry-changers in the same field but new employer

The local picture

Probation periods worry some lenders — they want assurance you'll keep your job. Some banks decline outright; others accept with strong other factors. Industry continuity matters more than specific employer length.

How Mortgagefy helps locally

Mortgagefy knows which lenders accept probation period applications. We document your industry experience, contract terms, and probation-clearing pathway to support the application.

Free advice.

How it works — 4 simple steps

Free probation chat

20-minute call about your job change and target home.

Compare lender options

We identify lenders that accept probation period applications.

Application support

We document your employment continuity and submit end to end.

Settle into your home

You move in even while on probation.

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 probation period home loans

Free 20-minute call about your real options as a new employee.

Start Your Free Assessment Call 0432 634 648

Get your personalised answer in 2 minutes

Free, no obligation. We'll match you with the right lender for your situation.

Model your scenarios: Use our free home loan calculators to estimate borrowing capacity, repayments, and savings.

Home Loan On Probation Period: For New Employees Wanting to Buy