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Borrow to 95% Full Doc

You can purchase a property with 5% deposit if you are employed and can provide pay slips. Lenders mortgage insurance will apply. To avoid lenders mortgage insurance you will need a 15% deposit. For self employed home loans the minimum deposit is 20%. If lenders mortgage insurance applies the cost is up to 2% of the value of the loan. It can be paid upfront or can be added to the loan. The cost of LMI is an extra $50 per month for an normal sized loan.

Low Doc Loan Rates

Interest rates start from 4.75% for home loans to 4.9% for investment loans. Each low doc home loan is different and each lender has different requirements. Call 1300 532 626. We are open 24/7.

ABN Minimum 1 year

You must have held an ABN for at least 1 year, preferably 2 years to qualify for a low doc loan.

Home, Investment loans, Refinance

Low doc loans Co offers home loans, investment property loans, lines of credit and refinances. Cash outs and loan consolidations are available. The maximum loan to value ratio for self employed borrowers  a low doc basis is 80%.

Maximum Loan Amount

There is a maximum limit for self employed loans of $4m. Borrowers will need to be able to service the loan repayments.

Interest Only

Interest only loans are available as well as principal and interest loans. Offset accounts allow borrowers to deposit excess cash into an account whose balance is used to reduce the interest on your loan.

Redraw facilities are available on most loans. A redraw facility allows a borrower to deposit excess cash into their loan and withdraw it later when required

Loan 30 year

The maximum term of a loan is 30 years for standard home loans. Low doc commercial property loans can also be arranged to a term of 25 years.

For borrowers over 50 years of age the loan term may be reduced to the potential working age unless you have an exit strategy. An exit strategy can consist of the sale of a property to repay the loan on retirement or use of superannuation savings or other assets to repay the loan.

Low Documentation

A low doc loan enables self employed people who do not have recent financials and tax returns to buy a property or refinance their current loan. Financial accounts and tax returns are not required. An accountant’s letter or BAS statements or bank statements will be sufficient.

Loans Offered:

Low doc home loans
Low doc investment loans
Low doc commercial property loans
Low Doc refinance

Offset accounts

Offset accounts are available and serve to reduce the interest paid on your loan.

Borrowers deposit their savings  into an offset account. The balance of the offset account are used to reduce the home load balance on which the interest is calculated.

Open from 6pm to 10pm, 7 days

We are open till midnight every day and offer phone support any time of the day 7 days a week. Our brokers will meet with you or you can come to our office to discuss anything you need to know about low doc home loans.

Home Loan Rates

Low doc home loan interest rates start at 4.75%. Residential  investment property  loan rates start at 4.9%. Low doc commercial property rates start at 5.5%.

Low Doc Specialists

Low Doc Loans Co has an expert team of brokers who specialise in loans for the self employed including self employed home loans, self employed investment loans and self employed commercial property loans

Loan Serviceability

Lenders assess a low doc loan differently than a full doc loan. Lenders understand that businesses may not have up to date tax returns and financial statements to substantiate their income. A more simplified approach is taken to verify income.