You earn well. The real question is how much of it a lender will count.
Mining and resources is Australia's highest-paid industry — but a big slice of that pay is allowances, roster overtime and site loadings. Lenders don't treat all of it the same: base salary counts in full, allowances and overtime are usually "shaded", and irregular payments can be left out entirely. The right lender for your roster can change your assessable income, and what you can borrow, by a real margin. Here's how it's read, component by component.
What counts as income — and what gets shaded or left out.
An illustrative FIFO pay package, broken into its components. The height of each block is its share of total pay; the tag shows how lenders typically treat it. Treatment varies by lender, roster and how consistent the income has been — so this is a map of the terrain, not a lender's decision.
Your contracted base rate is the foundation — lenders count it in full. Everything else is assessed on top of it.
For workers outside essential services, overtime is commonly shaded to around 80% to allow for variability. If it's genuinely built into your roster and consistent, some lenders will count more — even 100%. Policy differs lender to lender.
Site, camp and living-away allowances are treated differently by different lenders — some add them back close to full, others shade them. Note most FIFO workers travel rather than "live away", so a formal LAFHA fringe benefit may not apply; what matters is how your specific allowances are shown and assessed.
One-off production or safety bonuses and ad-hoc shutdown work are often left out because they're hard to rely on — though a long, consistent history can sometimes bring part of it into the assessment.
Package components, dollar values and percentages are illustrative and typical only — not a quote, not lender-specific, and not a decision on your file. Lenders vary in how they include, shade or exclude each component, and in how much history they want first. We match your actual payslips and roster to the lenders whose policy fits. Not an offer of credit.
Three things that decide how much of your pay counts.
How it's itemised
When base, allowances and overtime are listed as separate lines on your payslip — and matched by an employer letter — a lender can see the pattern and count more of it. Lumped-together pay is harder to assess.
How consistent it is
Regular, repeating overtime and allowances read very differently to spiky one-offs. Most lenders want at least 3–6 months of history — some prefer a longer or two-year pattern — before they'll rely on the variable part.
Which lender you use
The same payslips can produce different assessable incomes at different lenders, because shading rules differ. Matching your pay structure to a lender whose policy fits is where borrowing power is won or lost.
Strong sector, strong pay — variable rates move with the cash rate.
Why resources workers are, on the numbers, well-placed borrowers — and the rate backdrop your repayments sit against.
Sources: ABS Employee Earnings (August 2025); ABS Average Weekly Earnings, Australia (November 2025); Reserve Bank of Australia cash rate decisions (June 2026). Earnings figures are industry averages, not an estimate of any individual's pay. Variable home-loan rates move with the cash rate; any rate you're offered depends on the lender, product, LVR and your circumstances, and is confirmed in writing.
Permanent, contract, or buying in your home state — all workable.
Permanent employees with a major producer and a couple of years' tenure are the most straightforward. Contractors and labour-hire workers can absolutely get approved too — lenders will want to see continuity (typically 12+ months, renewals or a steady agency relationship), and some assess ABN contractors as self-employed, needing tax returns. Different lenders draw these lines differently.
Buying in your home city while working away interstate is normal for FIFO workers, and lenders understand it — it doesn't count against you. The job is simply to present your roster, employer and income clearly, then match the file to a lender whose policy suits it.
General information only — not personal credit advice. Eligibility, tenure requirements and income treatment vary by lender and your circumstances, and are confirmed in writing. Not an offer of credit or a guarantee of approval.
Bring these and we can be specific
The quickest way to see which lenders count the most of your income: your last 2–3 payslips (with base, allowances and overtime itemised), your most recent PAYG summary, your employment contract or an employer letter confirming roster and permanency, and bank statements showing consistent deposits. With those, we compare your file across the panel rather than guessing.
FIFO home loans, answered straight.
How do lenders treat my FIFO overtime and allowances?
Your contracted base salary is counted in full. Overtime, site and roster allowances are usually "shaded" — for workers outside essential services, commonly to around 80% — to allow for fluctuation. Where the income is clearly built into your roster and has been consistent, some lenders will count more, sometimes 100%. The exact treatment varies lender to lender, which is why matching your pay structure to the right lender matters.
What about my living-away or site allowance (LAFHA)?
Treatment varies by lender — some add site and living-away allowances back as income close to full value, others shade them. It's worth knowing that most FIFO workers are travelling for work rather than "living away" in the strict tax sense, so a formal LAFHA fringe benefit may not apply to you at all. What counts in practice is how your specific allowances appear on your payslips and how a given lender assesses them. This is general information, not tax advice.
How much income history do lenders want to see?
Most lenders want at least 3–6 months of consistent overtime and allowances before they'll rely on that variable income; some accept around three months, others prefer a longer or two-year pattern. Clear, itemised payslips and an employer letter confirming your roster make a big difference to how much gets counted.
Can I get a loan as a contractor, or do I need to be permanent?
Both are workable. Permanent employees with tenure are the most straightforward. Contractors and labour-hire workers can get approved too — lenders generally want to see continuity, often 12+ months plus renewals or a steady agency relationship. Some lenders assess ABN contractors as self-employed and ask for tax returns. Because policies differ, part of our job is finding the lenders most comfortable with your arrangement.
Can I buy in my home city while I work away interstate?
Yes — this is completely normal for FIFO workers and lenders understand it. Working in one state and buying where your family lives doesn't count against you. The key is presenting your situation clearly in the application so the lender can see the full picture.
What deposit do I need as a FIFO worker?
The usual deposit rules apply — broadly 5% with an eligible government scheme, and often 10–20% for mainstream lenders, with a larger deposit opening up more options. A stronger deposit can also help offset any lender caution about variable income. We'll give you a realistic figure once we've looked at your income and the lenders that suit it.
Let's find the lenders that count the most of your income.
Tell us about your roster, employer and pay — we'll show you which lenders read FIFO income most favourably and what that means for your borrowing power. No credit check to start.
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