Low Doc Loans
Low doc loans are available to Self Employed borrowers who may not have the financial statements and tax returns available to apply for standard fully documented loans.
This may suit the following Self Employed/Business circumstances:
Low doc loans are available to Self Employed borrowers who may not have the financial statements and tax returns available to apply for standard fully documented loans.
This may suit the following Self Employed/Business circumstances:
- Uneven cash flow
- Seasonal business
- Latest tax returns/financials not available
- Justified increase in income compared to prior years
- Reinvesting profits into business
Available for the following types of lending:
- Residential & Commercial lending
- Variable Home Loans
- Fixed Rate Home Loans
- Construction loans, purchases and refinances/debt consolidation
- Prime lending loans to 80% LVR
- Non Conforming loans up to 90% LVR
- Lines of Credit
- Cash out (working capital an acceptable purpose)
Documentation required:
Depending on the lender and product and interest rate you will be required to provide Self Certification of your income as well as one of, or a combination of two of, the following:
Depending on the lender and product and interest rate you will be required to provide Self Certification of your income as well as one of, or a combination of two of, the following:
- Accountant's Declaration
- BAS (most recent 3mths, 6mths or 12mths)
- Business bank statements (latest 3mths, 6mths or 12mths)