If you’ve changed jobs, work irregular hours, or earn overtime and commission, lenders will typically convert what you’ve actually earned into an annualised figure before deciding what you can borrow. Use our annual income calculator to see roughly how that number might look, before a lender crunches it themselves.
Working out your “real” annual income isn’t always as simple as multiplying a pay slip by 12. This calculator takes your year-to-date earnings, or your regular pay and hours, and projects what that works out to over a full year. That gives you a clearer sense of the number a lender is likely to work from.
It’s particularly useful if you’ve started a new role partway through the financial year, moved from casual to permanent work, or earn a mix of base salary and variable income like overtime or bonuses. Rather than guessing how a lender might treat your situation, you can see an estimate for yourself. Then talk it through with one of our brokers, who deal with these calculations across 52+ lenders every day.
The income annualisation questions are worth understanding before you apply.
It’s the process lenders use to convert income earned over a shorter period, like six months in a new job, into an equivalent full-year figure. They use that figure to assess how much you can borrow.
Generally, it’s worked out by dividing what you’ve earned by the number of pay periods worked, then multiplying by the number of pay periods in a full year. Lenders often apply their own adjustments on top of that.
If you’ve only been earning for part of the year, your actual total understates what you’ll likely earn going forward. Annualising gives a more realistic picture of your ongoing capacity to repay a loan.
Not usually. Most lenders apply a discount to variable income like overtime, bonuses, and commissions, commonly counting only a percentage of it rather than the full amount.
It varies by lender, but many want to see at least three to six months in a role. Sometimes it’s longer for casual or contract positions, before that income is included in full.
It depends on your situation; if your income has grown since starting a new role, annualising can work in your favour. If you’re relying heavily on inconsistent overtime, it may be counted more conservatively.
Not necessarily. Gross annual income is simply what you’ve earned in a year, while annualised income is a projection based on a shorter period. It may be treated differently depending on how consistent that income actually is.
Explore our full range of calculators, borrowing power, repayments, and comparison rates, to see the complete picture before you apply.
Try our free income annualisation calculator, then talk to a Credit Hub broker about turning that number into a loan strategy.
Credit Hub Australia
Join our dynamic team at Credit Hub Australia as a Finance/Mortgage Broker in our conveniently located Point Cook office, close to the freeway and train station, with free parking available.
In this role, you will be responsible for providing personalised mortgage solutions to our valued clients and also managing your colleagues by co-ordinating the allocation of files and general day to day running of the broker team. With a focus on delivering exceptional customer service, you will guide clients through the entire mortgage process, from initial application to final approval.
“Position is for Mortgage broker on commission/contract basis.”
Sales, cold calling, and networking come naturally to you. You thrive on engaging with prospective clients to understand their unique financial needs and goals.
You will act on leads and existing database as provided and generate sales and ongoing relations.
Actively participate in team meetings and contribute to the overall success of the business
You are an existing broker with proven experience in Mortgage Broking or lending abilities, or in a similar financial services role looking to take your career further with a successful Mortgage house.
In-depth knowledge of the Australian mortgage market, including products, policies, and regulatory requirements.
Excellent communication and interpersonal skills, with the ability to build lasting relationships and earn client trust.
A strong commitment to delivering outstanding customer service and consistently exceeding client expectations.
Self-motivated and capable of working independently, while also thriving in a collaborative team environment.
Relevant industry qualifications, such as a Certificate IV in Finance and Mortgage Broking.
Ability to manage multiple tasks, stay organized, and work reliably without supervision.
A results-driven mindset with a strong sales focus, coupled with exceptional work ethic, time management, and multitasking abilities.
At Credit Hub Australia, we are committed to providing our team with a supportive and rewarding work environment. Some of the key benefits of joining our team include:
Credit Hub Australia is a leading provider of mortgage and finance solutions, with a strong presence in the Point Cook in the Western Suburb of Melbourne and surrounding areas. Our mission is to empower our clients to achieve their financial goals by delivering personalised, expert advice and exceptional customer service. We are a dynamic and growing team, driven by a passion for helping our clients and making a positive impact on our local community. We are with Finsure as an agrregator Group.
If you’re ready to take the next step in your career as a Mortgage Broker, apply now to join our team at Credit Hub Australia.
