It is very difficult to qualify for a standard home loan with Centrelink payments as your sole income. Most mainstream lenders do not accept government benefits as assessable income. However, some specialist lenders and credit unions will consider Centrelink income - particularly Family Tax Benefit and parenting payments - as part of a broader income picture. If you receive Centrelink payments alongside employment income, child support, or other income, a broker can identify which lenders will assess your total income most favourably.
The Family Home Guarantee allows eligible single parents to purchase with a 2% deposit and no LMI. If you are working part-time and receiving Centrelink top-up payments, some lenders will assess both income streams. Lendology checks your eligibility across our full lender panel - including specialist lenders that mainstream banks do not offer.
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