Self Employed - Low Doc Loans
Low doc home loans are there specifically for self employed applicants who are unable to provide evidence of income by way of tax returns.
There have been many changes to the low doc home loan market and this has seen a great variety of low doc home loans introduced across a number of low doc home loan providers so your choice of low doc home loan is now even greater than before.
AussieWise Finance Group have access to a wide range of low doc home loan providers and can help you with whatever type of low doc home loan you need, below is a list of some of the low doc home loans we offer:
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Low doc home loans for a purchase or refinance |
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Low doc home loans for investment |
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Low doc home loans for people with credit impairment |
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Low doc home loans for construction |
Within the range of low doc home loan providers are a multitude of low doc home loan products and one of them is sure to suit your needs so contact us and speak to a low doc home loans consultant.
What we have done is also provide you with some question and answer sections on low doc home loans below so please browse through the below items:
What’s the maximum LVR on a low doc home loan?
The most common low doc home loans in the market provide up to 80% of the value of the property or purchase price.
In this range the low doc home loans are very competitively priced and are sometimes lineball with the home loan providers full doc home loan products.
Outside of this are some unique low doc home loans which offer either 90% or 95% LVR and this low doc home loan is proving very popular with low doc applicants as it lessens their out of pocket expenses.
In line with the higher LVR also comes an adjusted low doc home loan interest rate and this simply comes down to the risk involved with lending a greater percentage of the homes value.
How do home loan interest rates compare to full doc home loans?
Low doc home loan interest rates are at times in line with full doc home loans although some low doc home loan providers do apply a small loading to their low doc home loans.
It is when the LVR is greater than 80% that a higher low doc home loan interest rate loading is applied, the reason for this is that the low doc home loan provider is solely relying on a declaration of income rather than a verified set of financials such as tax returns.
Why not contact us and speak to a low doc home loans consultant who can provide you with information on low doc home loan interest rates and the various low doc home loan options available to you.
What information does a low doc home loan provider need for an application?
The information required for low doc home loans is very similar to a full doc home loan with some key differences being that of signing an income declaration and some other details which we have listed for you below:
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ABN registration details and or ACN details – Some lenders require 2 years ABN whilst other low doc home loan providers only require an ABN for 1 day |
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GST registration for low doc home loan applicants claiming more than 75k PA |
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100pts of identification for any low doc home loans |
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Relevant statements if there is a low doc home loan refinance |
The documentation required for low doc home loans is not too different from that of full doc home loans.
To find out more about the documents required for low doc home loans simply contact us and one of our low doc home loan consultants can assist.
How can we help you with a low doc home loan?
Low doc home loans are an area of expertise within AussieWise Finance Group and we have access to over 40 low doc home loan providers each with a number of low doc home loan options so there is a wide range of choice.
With this much choice there is sure to be a low doc home loan to suit your unique needs so just contact us and see which low doc home loan is the one for you.
What’s my next step in obtaining a low doc home loan?
Your next step should be to contact us and have an in depth chat to one of our low doc home loan consultants who can guide you through the various low doc home loan options on offer.
Once our low doc home loans consultant has investigated the various low doc home loan options they will present you with a financial summary of the most suitable low doc home loans which you can then choose from.
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