Can I get a home loan while on probation?
Short answer
Yes. Being on probation does not automatically disqualify you. Many lenders will accept a permanent PAYG role during probation provided you have continuous prior employment in the same industry, and some require only one payslip. Others want probation completed, so lender selection is the whole game here.
- Lenders accepting probation
- Many, with same-industry continuity
- Minimum evidence
- Often 1 payslip, sometimes just a signed contract
- Common condition
- No break, or a short break, between roles
- Hardest case
- Industry change plus a low deposit
Starting a new job and buying a home often collide — a promotion is exactly what makes the purchase affordable. The good news is that probation is a lender-policy question, not a credit question, and the policies vary far more than most borrowers expect.
What makes probation acceptable to a lender
- The role is permanent (full or part time), not a fixed-term contract.
- You moved within the same industry, ideally with a pay increase.
- There was little or no gap between finishing the old role and starting the new one.
- Your first payslip matches the contract, including any bonus or allowance structure.
When probation genuinely hurts
Two things turn probation from a paperwork detail into a real obstacle. The first is a career change, because your prior income no longer evidences your ability to earn the new income. The second is a high LVR: above 80% the mortgage insurer also has to be comfortable, and insurers are stricter about employment stability than many lenders are.
If you are mid-probation and buying at auction
- Get pre-approval assessed by a lender whose policy explicitly allows probation, not one that will re-check at formal approval.
- Have your employment contract, first payslip and a resignation-free reference from the prior role ready before you bid.
- Avoid changing anything else — do not take a new car loan or increase a card limit during probation.
- Remember that unconditional bids are binding: a policy gamble at auction is a deposit gamble.
How XLOANS helps with this scenario
We check the policy before an application is lodged, not after. That means confirming with the lender's own guidelines that your situation fits — tenure, income treatment, credit file, deposit source — so the enquiry on your file is one that has a genuine chance of approval.
Our service costs you $0. We are paid an ongoing commission by the lender for as long as your loan stays with them, which is why reviewing your loan later matters to us as much as settling it now.
Book a free 15-minute chat
Pick a time that suits you and an XLOANS broker will call to talk through your home loan options — no cost, no obligation.
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Frequently asked questions
This page is general information only and not financial advice. Lending criteria, rates and government schemes change — speak to an XLOANS broker for advice tailored to your situation. XLOANS is a Melbourne-based mortgage broking service.
Book a free 15-minute chat
Pick a time that suits you and an XLOANS broker will call to talk through your situation — no cost, no obligation.
Get a straight answer on your situation
A free 15-minute chat is usually enough to tell you which lenders fit your scenario — before anything touches your credit file.