Home Loan with New Job? Unlock Approval Fast (2026)

Securing a home loan is often considered one of life’s major milestones. But what if you've just started a new job? Many Australians find themselves in this very position, wondering if their fresh employment status will stand in the way of owning their dream home. The good news is, securing a home loan with a new job is entirely possible, and understanding the market, requirements, and strategic steps can make this goal achievable.

Understanding Home Loans with a New Job

When you're new in a job, lenders might view your situation as slightly riskier compared to someone with a long-standing employment history. However, this doesn't mean you're out of options. Lenders consider a range of factors beyond just your employment duration. Your credit score, savings, and the nature of your employment are all crucial aspects that can influence their decision.

Key Information: Rates, Requirements, and Options

In 2026, the Australian home loan market is as competitive as ever, with interest rates ranging from 6.49% to 12%, depending on the type of loan and your personal circumstances. Here's what you need to know:

Eligibility criteria can vary significantly between lenders. While some are flexible and require only one month of employment, others may prefer a six-month history. At Esteb and Co, with access to over 83 lenders, we can help you navigate these options to find the right fit.

Steps to Secure a Home Loan with a New Job

1. Assess Your Financial Health: Start by evaluating your credit score, savings, and current financial commitments. A strong financial profile can offset the perceived risk of short employment duration.
2. Gather Documentation: Prepare employment letters, payslips, and bank statements to demonstrate your income stability. If you're on probation, a letter from your employer confirming your role can be beneficial.
3. Consult with a Mortgage Broker: Leverage the expertise of professionals at Esteb and Co who have a broad view of the market and can guide you through lenders who are more accommodating to new employees.
4. Consider a Guarantor: If you're struggling to meet the criteria, having a guarantor can strengthen your application. This is often a family member who agrees to cover repayments if you default.
5. Submit Your Application: Once you've chosen a lender, submit your application with all supporting documents. Be prepared for potential follow-up questions from the lender.

Tips and Considerations

• Timing is Key: If possible, wait until you've passed your probation period. This can significantly enhance your chances of approval.
• Transparent Communication: Be upfront with your lender about your employment status. Transparency can foster trust and improve your application's credibility.
• Consider Fixed vs. Variable Rates: In a fluctuating market, weigh the pros and cons of fixed versus variable interest rates. Fixed rates offer stability, while variable rates can be more flexible but come with uncertainty.
• Maintain Job Stability: Lenders favour applicants who show stability. Avoid changing jobs frequently during the application process.

Frequently Asked Questions

1. Can I get a home loan while on probation?
   Yes, some lenders are willing to consider applicants on probation, especially if other financial factors are strong.
2. How does my credit score affect my chances?
   Your credit score is crucial. A higher score can compensate for shorter employment history by showcasing your reliability in managing finances.
3. Do all lenders require the same employment duration?
   No, each lender has different requirements. Some may accept as little as one month, while others prefer six months or more.
4. What if I'm self-employed and just started?
   Self-employed individuals often need to provide more extensive documentation, such as recent tax returns and business activity statements, to prove stable income.
5. Can a part-time job affect my application?
   Part-time work is acceptable, but lenders will look closely at your total income and job stability.
6. Is it better to apply alone or with a co-borrower?
   Applying with a co-borrower can strengthen your application, particularly if they have a solid employment history and credit score.
7. How can Esteb and Co assist me?
   With access to 83+ lenders, Esteb and Co can tailor solutions to your unique situation, helping you find the most suitable loan options available.