Self-employed? 20% deposit or equity?
If the bank said no, there may still be a path. We assess Alt/One doc options, often starting with usable equity and an accountant’s letter.
- 20% deposit or usable equity
- Accountant’s letter path
Straight answer on whether there’s a path.
Who One Doc Home Loans Suit
This pathway is usually for self-employed or non-standard borrowers with 20% deposit or usable property security whose file does not fit a major bank cleanly.
- 20% deposit or usable equity
- Self-employed and non-standard income
- Major-bank policy friction
A stronger fit
These are the scenarios this page is built for.
- You're self-employed, a director, contractor, or business owner
- You have 20% deposit or usable property equity / security
- A major bank has declined, delayed, or overcomplicated the deal
- Your income is real, but the file is non-standard or harder to evidence cleanly
- You need a path for purchase, refinance, or cash out
Probably not the right fit
These situations usually need a different path.
- You have no deposit and no usable property security
- You want an easy approval without proper assessment
- There is no clear income trail at all
- The scenario depends on unrealistic borrowing expectations
- You want the cheapest vanilla bank rate, not a specialist solution
Why major banks say no — even when the borrower looks strong
A decline does not always mean a weak borrower. Often, it means the file missed on policy, servicing, or documentation fit.
Income looks messy
Business income often does not show up like simple PAYG income.
Policy is too rigid
The file may be workable, but not within that lender’s rules.
Docs lag reality
The business may be stronger now than the paperwork makes it look.
Friction stacks up
Deposit, income, property and loan purpose can combine to kill the file.
Bottom line: one bank saying no does not always mean the market says no.
Simple start.
In many alt doc scenarios, we are not trying to build a huge file upfront. We usually start with 20% deposit or usable equity and, where the scenario fits, an accountant’s letter.
What usually starts the deal
- 20% deposit or usable property equity
- A basic outline of the property and loan purpose
- A quick sense of how the income is structured
What may come next
- An accountant’s letter
- A few supporting details if needed
- The right lender fit and next step
Bottom line: the goal is to work out quickly whether there is a real path — not bury you in paperwork before we know the file fits.
A cleaner path for self-employed borrowers
Most One Doc Home Loan scenarios start the same way: you have 20% deposit or usable equity, your income can be supported by an accountant’s letter, and the deal is matched to the right lender fast.
If you have deposit or equity and your income story is clear, the next step is usually much simpler than people expect.
Start with 20% deposit or equity
That is usually the clean entry point for a one doc scenario.
Use an accountant’s letter
This is usually the key document that supports the income position.
Match the right lender
The file gets placed with the lender whose policy best fits the scenario.
Move to the next step fast
Once the path is clear, the deal can move cleanly instead of dragging out.
Bottom line: most one doc borrowers do not need a giant paperwork build upfront — they usually need the right starting structure and the right lender fit.
The cleanest One Doc files usually have these 4 things
Fast-moving one doc scenarios are usually simple, well-shaped files with clear income support and a sensible starting position.
A strong starting position usually makes lender fit easier.
A clear income story helps the file move faster.
Cleaner scenarios tend to move better than multi-angle files.
The borrowing ask should fit the file comfortably.
Bottom line: the fastest one doc approvals usually come from simple, well-shaped scenarios.
One Doc FAQs
What self-employed borrowers ask most before a conversation starts. If the scenario is unusual, a short call covers more ground than any FAQ.
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Yes, in some scenarios. A One Doc Home Loan can use alternative income documents instead of full tax returns. Depending on the lender, that may include BAS statements, accountant letters, or business bank statements. The file still needs a workable income story plus sufficient deposit or equity. See our low-doc lending overview for how reduced-document lending works across different finance types.
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Not always — it depends on the lender and how your income is being verified. Some One Doc or alt doc lenders work from BAS statements or business bank statements alone. Others want an accountant's letter to support the income position. Having one available can widen your options. Read more about what a BAS statement covers in our glossary.
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Usually yes — 20% deposit or usable equity is the normal starting point. At around 80% LVR, more One Doc and specialist lending pathways become available. Below that, options can narrow quickly because mortgage insurance support is limited for alternative documentation scenarios. Check your starting point with our eligibility tool.
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A bank decline does not always mean the deal is dead. Major banks are often stricter on self-employed income and non-standard documentation. Specialist lenders assess One Doc and alt doc files differently, often with more manual credit review. The key is restructuring the file properly, not repeating the same submission. See more scenarios in our insights section.
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Usually yes — specialist lenders price for the added risk of reduced documentation. The real question is whether a One Doc structure gives you a workable path now, with room to refinance later once the file is cleaner. Many borrowers eventually move to a standard refinance path. Explore what refinancing involves in our glossary.
Bottom line: one set of questions does not cover every scenario. If the file has unusual features — trust structures, complex income, prior declines or multiple entities — a short conversation is the faster path.