How Lenders Count FIFO and Mining Income: Base Pay, Allowances and Overtime
Lenders don't all count FIFO and mining pay the same way. How base pay, overtime, allowances and bonuses are treated, and how to make your income count.
The short version
- Lenders do not all count FIFO and mining pay the same way. Base pay is counted in full. Overtime, loadings, allowances and bonuses are where they differ.
- More cautious lenders often count regular overtime and loadings at around 80%. They may leave out allowances or reduce bonuses. Others count more when it is regular and you can show the evidence.
- That means the same pay can lead to a different borrowing amount at different lenders.
- A clear pattern helps. Payslips with year-to-date totals and a payment summary make your income easier to count.
- A broker can compare lenders for you. Richard doesn’t charge you a fee. He’s paid by the lender.
You work hard for your pay. On a roster, it often comes in layers: a base salary, then overtime, shift loadings, site allowances and maybe a bonus. When you apply for a home loan, a lender has to decide how much of each layer it will count. This article explains how that usually works, so there are no surprises.
Why FIFO pay is looked at differently
A lender wants to know your income will keep coming in. A fixed salary is easy to see. Pay that changes with your roster, or that includes extras, takes more work to assess. Lenders have their own rules for this, and the rules change over time.
Two payslips from different points in a roster cycle can also look very different. If a lender only sees those two, your income can look uneven even when it is steady across the year.
The four parts of your pay
Base salary
This is counted in full by lenders.
Regular overtime and shift loadings
More cautious lenders commonly count these at around 80%. Some lenders count more, up to the full amount, where the overtime is regular and documented.
Site and remote area allowances
Some lenders leave these out completely. Others count them when they are ongoing and you can show the evidence. Allowances that are paid through salary sacrifice can reduce the income a lender sees, so it is worth asking your payroll team how yours are set up.
Bonuses
Bonuses are often averaged over two years and then reduced. Some lenders will count them if there is a steady history.
A simple example
Say your base pay is $95,000 and you earn another $45,000 a year in overtime, loadings and allowances. If one lender counts that extra $45,000 at 80%, it assesses $36,000 and leaves out $9,000. A second lender that counts all of it will arrive at a different number. This is an illustration only. It is not a quote or an offer, and real policies vary.
What helps a lender see your full income
- Payslips that show year-to-date totals, so the pattern is clear.
- Your most recent payment summary or tax return, which confirms a full year.
- A letter from your employer that confirms your roster and that your allowances are part of your role, if a lender asks for it.
- A steady history in the job. Many lenders like to see 12 months or more of consistent income.
- Not changing jobs or contract type just before you apply.
What to do next
Write down your base pay and each extra, and note which ones are paid every pay. Our calculators can give you a rough idea of repayments. Then talk to a broker before you apply anywhere. Every application leaves a mark on your credit file, so it helps to know which lender suits you before you apply. You can also read about home loans for FIFO and mining workers.
Get the FIFO and Mining Home Loan Checklist
A simple checklist and worksheet to get your roster, pay and documents ready before you talk to a lender.
Send me the checklistWe will email it straight to you.Sources and when we checked
Checked on 28 October 2026. Sources: Everstone Finance, “FIFO and Mining Home Loans in Australia (2026)”; Home Loan Experts, FIFO worker home loan page. Lender policies differ and change, so the percentages above are examples of what is commonly seen, not a promise of how any lender will treat your pay. The worked example is illustrative only. This article is general information only and is not personal advice. Lending is subject to each lender’s criteria, and approval is not guaranteed.
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This article is general information only and does not take into account your personal financial situation, needs or objectives. Consider whether it is appropriate for you before acting on it. Figures and rules can change, so always check the latest details with the relevant authority.
Richard Morris is a Credit Representative (CRN 570376) of Strategic Mortgages Perth (ACR 570592), authorised under Connective Broker Services Pty Ltd (Australian Credit Licence 389328). This is not tax or legal advice. Please speak to your accountant or solicitor about your own situation.