Self Employed Home Loans › Do self employed borrowers pay higher interest rates?

Do self employed borrowers pay higher interest rates?

Not necessarily. If you can provide full documentation, you can often access the same rates as a salaried borrower. Low doc loans, where income is proven by alternative means, may carry a higher rate to reflect the lighter verification.

Written by Ross McFarlane, Licensed Mortgage Broker (Credit Representative 526725). About the author

Why this matters

There is a common myth that being self employed automatically means a worse rate. It does not. A full doc self employed borrower with solid returns competes on the same rates as anyone else. The rate premium only tends to appear on low doc loans, and even then it can be refinanced to a sharper rate later once your figures catch up.

The key points

Full doc self employed loans can match standard rates.
Low doc loans may carry a higher rate for lighter proof.
The premium reflects verification, not the borrower.
A low doc loan can often be refinanced sharper later.

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Last reviewed: June 2026

General information only. This page provides general information about home loans and is not financial or credit advice, a quote, or a guarantee, and your personal circumstances have not been considered. Lending policies, interest rates, fees and eligibility vary by lender and change over time. Always confirm your own situation with a licensed mortgage broker or lender before acting. Ross McFarlane (Credit Representative 526725) is an authorised Credit Representative of Australian Associated Advisers Pty Ltd t/a Keylend, Australian Credit Licence 392169.