Can You Get a Home Loan on Government Pensions or Allowances?
If you receive a government pension or allowance, you might be wondering if buying a home is still an option. The good news is that yes, it is possible in many cases. While getting a home loan on Centrelink income can be more complex, it’s not out of reach with the right strategy and guidance.
At Mint Home Loans, we regularly help clients structure their applications using a mix of income sources, including government payments.
✅ Which Centrelink Payments Can Be Used for Home Loans?
Most lenders will consider some Centrelink payments if they are consistent, ongoing, and supplemented by other income. These payments include:
Age Pension
Disability Support Pension (DSP)
Carer Payment
Family Tax Benefit A & B
Parenting Payment
These types of income can be used either on their own with a strong deposit or alongside other sources like part-time employment or a partner’s income.
⚠️ What About JobSeeker and Youth Allowance?
JobSeeker is generally not accepted by lenders on its own. That’s because it’s intended as temporary support while you look for work. Youth Allowance is viewed similarly.
However, if you or your partner also receive a pension or have another stable income, some lenders may consider JobSeeker as a secondary income source. It all depends on the lender and how the application is structured.
💡 Tips to Improve Your Chances
Combine your Centrelink income with other earnings like casual or part-time work
Keep your credit file clean and up to date
Save a solid deposit to reduce the lender’s risk
Work with a mortgage broker who knows which lenders will support your situation
Need Help?
At Mint Home Loans, we specialise in helping everyday Australians navigate the home loan process. If you receive government support and want to understand your options, we’ll guide you through every step.
📍 Based in the Southern Highlands, helping clients across Australia.
📞 Get in touch today to explore your options.
Disclaimer: This article is general in nature and does not constitute financial advice. Always seek advice tailored to your individual circumstances.
