Low Doc Loans

Low Doc Loans are an excellent option for applicants who have not completed recent tax returns or are unable to evidence their income in the manner normally required by lenders for standard loan products. (Available for self employed borrowers) Most banks and lenders no longer offer low doc loans but some may still be available for specific circumstances.

Frequently asked questions from our clients regarding Low Documentation Loans (Low Doc Loans):

 

Question:

How Low Doc are low documentation loans really?

Answer:

Usually, Lenders require a signature on an Income Declaration form - replacing the need to gather financial statements when applying for a loan, if they're not readily available. The majority of lenders now require BAS and bank statements.

Question:

What type of loans are available under a Low Documentation policy?

Answer:

Most types of loans are available under a Low Documentation policy, including standard variable loans, fixed rate loans, construction loans and Lines of Credit.

Question:

What interest rates are available for Low Documentation loans?

Answer:

Low Documentation loans have a higher interest rate than a standard variable home loan.

Question:

What are the maximum amounts which can be borrowed under a Low Documentation loan?

Answer:

LVRs up to 80% exist for Low Documentation loans.

Question:

What features are available on Low Documentation loans?

Answer:

All features are available on Low Documentation loans as are available on Standard Variable Home Loans.

 

Low Doc Loan Articles

Find out more about Low Doc Loans by reading the article listed below.

What Is A No Doc Or Low Doc Home Loan? by Steve Szasz

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