How does my employment status affect my home loan approval?

Lenders prefer permanent employment. Having said that, casual employment is acceptable but you need to be in the role for a specific period of time(depends on the lender)

Your employment status is one of the most important factors that lenders consider when assessing your home loan application. Lenders want to know that you have a stable job and income, and that you’ll be able to make your loan repayments. Generally, lenders prefer applicants who are employed full-time, as this provides a steady income and the assurance that you’ll be able to make your loan repayments. However, if you’re self-employed, a casual worker, or a contractor, you may still be able to get approved for a loan. Lenders will want to see evidence of your income and employment history, such as payslips and tax returns. They may also ask for a letter from your employer confirming your employment status. If you’re self-employed, lenders may ask for additional documents such as a business plan, financial statements, and an accountant’s letter. It’s important to remember that lenders may have different criteria for assessing loan applications, so it’s a good idea to shop around and compare different lenders to find one that’s willing to approve your loan. You can check out https://goodrate.com.au/home-loan to see current interest rate offers.