A Guide for Australian Virtual Assistants: Choosing the Right Loan Product

Owning a home is a dream for many Australians, and virtual assistants (VAs) are no exception. But navigating the world of home loans can be daunting, especially when you’re self-employed. The sheer number of loan products out there can leave you wondering: which one is the best fit for my VA income structure, with its inevitable ups and downs?

Fear not, fellow virtual warriors! This guide will equip you with the knowledge to conquer your loan quest and find the perfect mortgage for your Aussie VA castle.

Understanding Your Income as a VA

The key to choosing the right home loan lies in understanding how lenders view your income. Since VAs are self-employed, lenders typically look for at least two years of tax returns to assess your income stability. Be prepared to showcase your financial prowess by highlighting:

  • Consistent income growth: Steady growth in your income over the past two years is a plus.
  • Diversified client base: Having clients from various industries demonstrates a reduced risk of income fluctuation.
  • Strong savings history: A healthy savings account shows responsible financial management and your ability to handle a mortgage.

Loan Products Tailored for Aussie VAs

Now, let’s explore some loan options that might be a good fit for VAs:

  • Low Doc Loans: These loans require less documentation than traditional loans, but they often come with higher interest rates. However, if you’re a relatively new VA and haven’t established a two-year income history, this could be an option (be sure to weigh the pros and cons carefully).
  • Variable Rate Loans: These loans offer the potential for lower interest rates that fluctuate with the market. If you’re confident your income will grow steadily, this flexibility could be beneficial. However, be prepared for potential rate increases.
  • Professional Packages: Many lenders offer loan packages designed specifically for self-employed individuals. These packages may consider a broader range of income verification methods and might offer competitive interest rates.

Getting Expert Advice

Navigating the loan landscape can be tricky. Consider seeking professional advice from a mortgage broker who specializes in helping self-employed individuals. A good broker will understand your unique situation as a VA and can guide you towards the loan product that best suits your income and financial goals.


  • Do your research: Compare different loan options and interest rates from various lenders.
  • Be upfront about your income: Transparency with your financial situation is key to securing a smooth loan application process.
  • Shop around: Don’t settle for the first offer you receive.

By following these tips and equipping yourself with the right knowledge, you’ll be well on your way to unlocking the door to your dream home!