Are there limitations in terms of borrowing capacity and lenders available for contractors (with ABN) to get a home loan?

Yes, there are limitations in terms of borrowing capacity and lenders available for contractors (with ABN) to get a home loan. Contractors with an ABN are often seen as higher risk borrowers due to their inconsistent income, so lenders may be more selective when it comes to approving their loan applications. The amount you can borrow as a contractor will depend on your income, expenses, and other factors. Generally, lenders will look at your last two years of tax returns to assess your income, and they may also require additional documents such as bank statements and payslips. It’s important to note that some lenders may not accept contractors with an ABN, so it’s important to do your research and compare lenders before applying for a home loan. You can check out Goodrate to compare home loan offers from different lenders and find the best rate for your situation. Overall, it’s possible for contractors with an ABN to get a home loan, but it’s important to be aware of the limitations and do your research before applying.