Low Doc Home Loan
A low doc home loan is generally suited to applicants that have been self employed as a sole trader or small business owner for over 12 months (24 months with many lenders), but doesn't yet have the documents required for a standard home loan application.
Don't have a 2 full year's tax return? A low doc home loan might suit you.
Different lenders have different requirements, but the easiest low doc home loan with a major lender will require your ABN and GST be registered for a minimum of 12 months, and you must be able to supply 12 months' worth of BAS statements; bank statements may be required also. Not sure how a Mortgage Broker can help you? Look at our Mortgage Broker Brisbane page.
|Who does a low doc home loan suit?|
|Self employed applicants and small business owners.|
|12 months' BAS minimum.|
|Don't yet have 2 full years tax returns.|
|Don't meet the requirements above? Check out our self employed home loan requirements page.|
|Features of a low doc home loan:|
|Fixed and variable interest rates.|
|Standard home loan featured.|
|Secured by residential security. Commercial security available under alternate product.|
|Higher interest than usual.|
|Minimum loan amount of $50,000.|
FAQ about our low doc home loans:
I have been trading for a year but don't have 12 months' BAS done.
Without doing 12 months' BAS, you won't apply for a standard low doc home loan. You would instead be looking at a specialised alt doc home loan. Contact us for more details.
Do you charge for your service?
No. The lender pays us a commission for a successful application so you needn't pay us anything.
Can you do after-hours appointments?
Yes! After-hours and weekend appointments are welcomed, although your finance application will generally only be processed on week days.
Do you only service Brisbane?
We can do self employed home loans all over Australia, often over the phone. Our Mortgage Broker is however based in North Brisbane, and as such can service all surrounding areas in person: Albion – Alderley – Ascot – Aspley – Bald Hills – Banyo – Boondall – Bracken Ridge – Bridgeman Downs – Brighton – Brisbane Airport – Carseldine – Chermside – Chermside West – Clayfield – Deagon – Eagle Farm – Everton Park – Fitzgibbon – Gaythorne – Geebung – Gordon Park – Grange – Hamilton – Hendra – Kalinga– Kedron – Keperra – Lutwyche – McDowall – Mitchelton – Myrtletown – Newmarket – Northgate – Nudgee – Nudgee Beach – Nundah – Pinkenba – Sandgate – Shorncliffe – Stafford – Stafford Heights – Taigum – Virginia – Wavell Heights – Wilston – Windsor – Wooloowin – Zillmere.
Will a credit check be required?
We can pre-asses your application without a credit check, however the lender will be required to do one upon application.