Home Loans for IT Professionals

If you work in tech, your total package might be well above your base salary once shares and bonuses are counted. The problem is that many lenders either ignore that income or shade it hard. A lender that understands tech compensation can count a lot more of it, and on a Sydney purchase that can be the difference of hundreds of thousands in borrowing power.

RSUs and share income

Restricted stock units are where the biggest wins and the biggest misunderstandings sit. Some lenders will count vested RSU income as recurring, others will not touch it. To use it, lenders generally want to see a track record, often two years of vested income, and they usually prefer that your employer is listed on a major exchange. Because share prices move, a lender will often discount the value to allow for that. Presented the right way, RSU income can add a large amount to what you can borrow.

• Two years of vested RSU income is a common ask before a lender will use it.
• A listed employer on a major exchange helps, since the shares are easy to value.
• Tax statements or returns showing the RSU income are usually needed as evidence.
• A discount to the share value is normal, to allow for price movement.

Contractors and day rates

Plenty of IT professionals contract rather than sit on a permanent salary. If you are a PAYG contractor, many lenders treat you much like an employee, wanting a payslip with year to date income and a current contract. If you invoice through your own ABN, you are assessed as self-employed, and legitimate add-backs come into play. Either way there are lenders who are comfortable with tech contracting, and the length of your contract and history shapes how much counts.

If this is your first home, start with first home buyer support. If you are upgrading or investing, see how much can I borrow to model the numbers first.