Low Doc Home Loans for Refinancing to 80% LVR with cash out. Generally a refinance with cash out should be limited to 60% of property value for the best rates but are available up to 80% lvr.

Each loan has to be treated as an individual basis so it is important to deal with a broker that has several options and is experienced in this category of lending.

Advantages:

  • No tax returns or assessment notices.
  • No financial statements.
  • Income Verification is required by either Self Certification or Accountant Verification, BAS Statements or Business Bank Statements or a combination of above.

Disadvantages:

  • Generally a higher interest rate if loan is above 60% of the property value (LVR)
  • High Deposit Required

The matrix below gives you an overview of product perimeters however it is best to phone or apply online so we can analyse your unique circumstance.

Applicant type Individual Borrowers, Discretionary & Unit Trusts and Property Holding or Trading Companies.
Employment requirements Self employed – must be ABN registered. Must be GST registered if Income is over $75,000
PAYG Co-Applicants allowed (must provide full income proof).
Income: required proofs Case by Case depending on lender.
Either Self Certification with Accountant Verification or BAS Statements or Business Bank Statements or a combination of above.
Maximum Loan amount $2.5 million
Purpose Residential – Purchase or Refinance or Investment
Security type Most metropolitan and major regional centres (post code specific – please ring or email to check).
General acceptable Security includes:
Zoning of a Residential nature that permits residential usage House or Unit.
Residences with up to 2 dwellings on the one Title (eg: Duplex).
Apartments more than 50 sq m in size (excluding balconies).
For exceptions to above please ring or email as there could be lenders available
LVR Low Doc – up to 80% LVR on refinances with cash out.
Coded, non-coded, or either Case by Case – any loan that is predominately used for residential or personal use will be treated as a coded loan This applies to investment and owner occupied properties.
Variable, fixed or both Both
P&I, I/O, or both Both
Loan Term 1 to 30 years

 

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