Low Doc Home Loans

Low Doc Home Loans in Australia. Low Doc Home Loan Requirements: If you require a home loan for self employed and get paid in cash, or just don’t have a lot of documentation to prove your income, then you know about that you are an exception to the rule when it comes to being able to get traditional financing. You have a good stable history and healthy monthly income. You just don’t have a pay stub. Unfortunately lenders just [...]

Low Doc Home Loans for Self Employed Australians. Australia has more than two million independent contractors or self-employed. Low Doc Home Loans (Low documentation loans) are designed for these self-employed people who do not have up to date financial statements and tax returns which are required for a prime home loan. Generally the same features and facilities are available on prime loan are also available on a Low Doc Home Loan as the name indicates the difference is in [...]

How much deposit do I need for a Low Doc Home Loan? Self Employed Australians can still get a home loan if they do not have up to date lodged Financials. As Maximum loans are 85% of Purchase price you will need 15% Deposit plus stamp duty plus costs as funds to complete. It is actually quite hard for the average Self Employed Australian to get a mortgage from a bank in comparison to a PAYG worker who generally [...]