Income from Centrelink benefits can be used as income, however in most cases, can only be used as additional income. Other income such as from employment, spouse’s income or superannuation income is required in most cases.

For more details please read on.


Accepted Centrelink Benefits:

Carer’s Allowance / Payment Allowance is accepted if you also have a job
Child Support / Maintenance Maintenance is accepted if you meet certain conditions.
Disability Support Pension Pension is accepted if your partner/co-borrower is employed.
Family Tax Benefits FTB A & B are accepted if you meet certain conditions
Foster Care Allowance Allowance income is accepted if you also have a job.
Large Family Supplement Supplement is accepted if you meet certain conditions.
Pension: Age Pension is accepted if your partner or co-borrower is employed.
Pension: Overseas Overseas pension is accepted if you meet certain conditions
Pension: Veterans & Widows We can accept your service, aged or widow pension
All Other Benefits Other benefits are not accepted

If your benefit type is not shown above then we cannot assist you to apply for a home loan using that income.


Calculate your income and borrowing power.

If your income type is one that we can accept, next you should calculate your borrowing capacity.

  1. Read the conditions that match your Centrelink benefit.
  2. Look at your most recent Centrelink statement and work out your fortnightly income.
  3. Multiply this by 26 to find your annual tax free income.
  4. Look at your payslips or your co-borrower’s payslips and calculate your annual taxable income.
  5. Use our calculators to work out how much you can borrow and what your repayments would be.


Frequently Asked Questions – click on title for more information

1) Which lenders can help me?

2) Why do banks want me to also have a job?

3) Is it acceptable to the banks if I am not working, yet my partner is?

4) Can my age pension income be accepted on its own?

5) Receiving Child Support Maintenance

6) Are Family Tax Benefits accepted?

7) Does it matter how old my children are?

8) Which documents do I need to provide?

9) Receiving an Overseas Pension

Workers Comp Home Loan

Have you been put on worker’s comp after an injury at work? No doubt you are going through a difficult time, but what you don’t need is to have your bank decline your home loan. Unfortunately this is the situation facing many people who are being paid a compensation payment and who are unable to work.

Not every lender has such a black and white approach to income from a compensation claim. Read on to find out how to get approved for your mortgage.

1) What are the approval criteria?

2) If your worker’s comp income is permanent

3) If your worker’s comp is ongoing for the next 5 years

4) Are you returning to work in less than 2 months?

5) If your worker’s comp is ongoing until you are able to work

6) If your income is not ongoing

7) What documentation do I need to provide?

8) What if my claim is still in dispute?

9) Why don’t the banks accept worker’s comp income?

10) How do I get approval?

11) What is worker’s comp and who gets it?

12) Which industries have regular claims?


Veteran’s Pension Home Loan

Did you know that it is possible to secure a home loan on a Veteran’s Pension?

When applying for a home loan with the banks there needs to be proof that you can meet the repayments of the loan on a regular basis and that the income will continue until the end of the loan term. Even if you can provide this proof many banks will not lend to people who receive their income as a veterans pension.

So which banks can approve your loan? Read on to find out how you can get approved.

1) What is a Veteran and a Veteran’s Pension?

2) Do I qualify for a Veteran’s Pension Mortgage?

3) What documents do I require?

4) How much of the property value can I borrow?

5) Are interest discounts available?