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Low Doc Home Loans
Are you lacking the documentation to get a home loan?
We can help you find a solution.
If you’re recently self-employed or don’t have full records of your financial history, you won’t be able to apply for a standard mortgage. Fortunately, you can take out a low documentation home loan instead.
We have access to many different hard-to-find loans, so we can save you time by searching for the best rate for you.
Low doc loans usually have a higher interest rate, but we can negotiate a rate reduction on your behalf.
We work around the clock to get your loan approved in time.
Similar to a standard loan, you can take out a low doc mortgage for a residential, investment or business property purchase. It also has the usual loan options, including standard and variable interest rates, redraw facilities and line of credit options.
What you will need
To get a low doc loan, you will usually need to provide your lender with 12 months of Business Activity Statements (BAS) and have had an active ABN for at least six months.
Additionally, some lenders may require you to take out Lenders Mortgage Insurance (LMI) with a Loan to Value Ratio (LVR) of greater than 60%.
The right rate at the right time
With a low doc loan, you will usually need to pay a higher interest rate to compensate for the risk your lender is taking. However, this is where we can help the loan work in your favour.
While you will need to secure your loan by paying a higher rate in the beginning, once you’ve caught up with your documentation and lodged your next tax return, we can negotiate a rate reduction on your behalf to make sure you end up paying as little as possible.
We place huge emphasis on educating our clients, so that they can be personally confident in their decision.
Below are some of our most useful resources to help get you into your first home.
We’re here to help you get the right low doc home loan, and keep your rates as low as possible. Get in touch with us today for a free consultation.