Low Doc Mortgages

Australia has more than two million independent contractors or self-employed. Low Doc 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 Loan as the name indicates the difference is in the documentation. If you are self-employed or have a small business and can’t provide lodged returns then it is the way to apply for a home loan.

Although financial statements and tax returns are not required for these loans, lenders will require some form of proof that you can service these loans. For these low doc loans, you may need to provide the lender with a statement confirming your income generally certified by your accountant or Business Bank Statements or BAS Statements or a combination of above

Can I switch from a Low Doc Loan to a Prime Loan?

Yes, most lenders will require full income verification such as 1 or 2 years tax returns and have a history of good repayment conduct.

Talk to an Expert:

We specialise in Low Doc Home Loans for both Residential and Commercial Properties in clean credit or credit impaired and deal with many lenders that most mortgage brokers do not have on their books. Please complete our Enquiry Form or Phone Direct where you can discuss your situation with an expert as it is important to deal with a broker that has several options and is experienced in this category of lending.

If you wish to proceed, then we will help you to complete all the necessary paperwork and liaise with the lender on your behalf. This will include the completion and submission of your home loan application and the on-going communication between all parties until your home purchase is settled. So if you are self-employed and hunting for a home loan or commercial loan then visit us at www.lowdocmortgages.com.au