Self-employed first home buyer: how lenders look at your income
Being self-employed does not rule you out of buying a first home in New Zealand. Lenders want proof that your income is steady, so they ask for more paperwork than they do for a wage earner.
Your next step
A home loan specialist who works with self-employed buyers can explain what a lender is likely to ask for. There is no credit check to enquire.
It takes about 90 seconds, then we put you in touch with someone who can talk through your options, and there's no credit check to enquire.
What do lenders ask a self-employed buyer for?
ANZ says it needs your financial statements, preferably through your accountant, and traditional lenders generally want about 2 years of tax returns and statements to check the income is consistent. The usual list is:
- business financial statements, ideally from your accountant
- personal and business tax returns from IRD
- personal and business bank statements
- photo ID, proof of your deposit and where it came from, and your KiwiSaver statement
- any other debts, including business cards and loans.
Some lenders are more flexible and accept bank trading statements or an accountant's letter instead.
How is income worked out when it goes up and down?
A lender may look at both years, the lower one or an average. Say year one shows $90,000 and year two $110,000: the average is $100,000, but a lender using the lower year starts from $90,000. That gap is why it helps to talk to a home loan specialist early, as they know how different lenders treat the same accounts.
Does the deposit change if you are self-employed?
Not usually. A lender weighs it against the price as for anyone else, though some want more deposit if your income history is short. On the $720,000 median first-home price, a 20% deposit is $144,000, and the deposit page shows the lower levels. After 3 years of membership you may also be able to use KiwiSaver.
What about the First Home Loan?
Self-employed buyers can use the Kāinga Ora First Home Loan if they meet the criteria, with a 5% deposit and the income caps on the Kāinga Ora First Home Loan page. Check the latest with Kāinga Ora or your lender. Some lenders charge a low equity fee or premium. Ask the lender what applies to you.
How is the paperwork usually prepared?
Lenders usually want your latest accounts and returns filed, and separate personal and business accounts make things easier to read. They will ask about every debt and card limit, and about any big jump or dip in income, which a sentence or two usually covers. Each lender credit check can show on your credit report, too.
Common questions
Can a self-employed person get a first home loan?
Yes. Lenders ask for more paperwork because the income is less predictable than a wage, and the Kāinga Ora First Home Loan is open to self-employed buyers who meet its rules.
How long do I need to have been self-employed?
Traditional lenders generally like to see about 2 years of accounts and tax returns, though some look at other proof if your history is shorter.
Does my income for the First Home Loan mean my profit or my turnover?
The scheme caps use income before tax over the last twelve months. What counts for a business owner depends on how you are paid, so check with Kāinga Ora or a home loan specialist.
Figures as at 5 October 2026
Sources: ANZ: home loan pre-approval (proof of income); Mike Pero: loan tips for self-employed borrowers; Kāinga Ora: First Home Loan; Kiwibank: KiwiSaver and your first home.
Reviewed against ANZ, Mike Pero, Kāinga Ora and Kiwibank. This page is general information, not advice, and Online Mortgages is a referral service, not a lender.