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Low Doc Home Loans & No Doc Residential  


Low doc loans are designed to assist self employed borrowers. No income substantiation is required however self-certification of your ability to make repayments  normally applies.
Low Documentation (or No documentation) loans are designed for the self-employed or small company borrower/s whose financial statements may not be available. Reasons for this may encompass: Their accountant hasn't completed their bookwork.
The borrower must have a sizeable deposit or equity in existing real estate property to qualify for a Lo-Doc Loan.
Advantages:

  • Simple income declaration form.
  • No tax returns.
  • No financial statements.
  • Can have features such as redraw, line of credit, variable or fixed rates, principal and interest or interest only.

Disadvantages:

  • Generally a higher interest rate.
  • High Deposit  Required

Applicant type

Individuals, Companies, Trusts

Employment requirements

Self Employed - must be registered for GST if income declared is $75,000 or over. Must be ABN registered.

Income: required proofs

Case by Case (most cases self certifying)

Loan amounts

 LVR related

Purpose

Residential - Purchase or Refinance, Investment, Vacant Land & Construction

LVR

Low Doc - up to 85% LVR on purchases other 80% LVR

No Doc - up to 70% LVR non - coded (investment properties only)

Coded, non-coded, or either

Case by Case

Credit related issues

Available at higher interest rates
Paid Defaults up to $1,000 ignored and Paid or Unpaid defaults over 2 years ignored

Variable, fixed or both

Both

P&I, I/O, or both

Both 

Loan Term

1 to 30 years

Fill out our online application now to find out how we can help you with your Low Doc Home Loan

 

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