Can Gambling Impact Your Home Loan Application?

If you’re planning to buy a property, it’s important to know that your gambling habits could be considered when you apply for a home loan.

When assessing your application, lenders look closely at your financial behaviour, including income, expenses, and spending patterns. A history of regular gambling can be a red flag and may affect both your home loan approval in Wollongong or the Illawarra, and your ability to refinance in the future.

Understanding the process

When you apply for a home loan, your lender will carry out an affordability assessment. This involves reviewing:

• Your income (from all sources)

• Your regular outgoings and expenses

• Your credit report and score

If your bank statements show gambling transactions, the lender will look at:

• How much money is being gambled

• How often you gamble

• The type of gambling (e.g. online betting, pokies, lotteries)

Occasional, low-level gambling — such as buying the odd Powerball ticket — is usually harmless in the eyes of a lender. However, regular or large gambling transactions may raise concerns about your ability to manage repayments.

How to turn things around

If gambling has been a regular part of your spending, there are steps you can take to improve your financial position before applying for a home loan:

• Pay down debts – Clearing credit cards, car loans, or personal loans shows lenders you can manage your finances responsibly.

• Budget and save – Consistent savings habits will boost your profile with lenders and improve your application.

• Boost your credit score – Access your free credit report every few months. Fix errors quickly, lower credit card limits, and always pay bills on time.

• Cut back or stop gambling – If you’re concerned about how gambling could affect your application, reducing or quitting the habit is the most effective step.

Seeking help

If gambling is becoming difficult to manage, there are resources that can help:

• GambleAware NSW – offers tools and confidential support.

• Gambling Help Online – 1800 858 858 (free, 24/7).

• Health Direct – links to local counselling and support groups.

Like to talk through your finance options?

If you’re worried about how your gambling history might affect your loan application, you’re not alone. At Haus of Loans, we’ve helped many clients in Wollongong and the Illawarra strengthen their financial profile and move forward with confidence.

Reach out today for a confidential conversation about your home loan options.