Alternative documents like BAS, business bank statements, and accountant letters are accepted.
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Alternative documents like BAS, business bank statements, and accountant letters are accepted.
Due to increased risk, low doc loans typically come with higher interest rates.
A higher deposit is usually required as lenders reduce the LVR for low doc loans.
Features such as offset accounts and redraw facilities may not be available.
Be aware of higher setup, legal, and application fees associated with low doc loans.
Get a clear picture of your future repayments. Use our calculator to see how a high lending rate of a low doc loan fits your financial plans.
Low document loans are designed to help individuals who don't meet traditional income verification requirements.
Business owners without standard documentation can use alternative income verification methods to qualify for a loan.
Those with fluctuating or short-term income can secure a loan with less paperwork.
Investors with rental income or multiple income streams can benefit from flexible income verification options.
We understand the unique challenges faced by self-employed individuals, freelancers, and property investors. Our team specializes in low doc loans, offering flexible solutions tailored to your financial situation, making homeownership easier with minimal paperwork.
Yes, low-doc loans generally have higher interest rates than full doc loans. This is because of increased risk for lenders with less documents required from the client.
Low-doc loans are available with different loan to value ratio options, from 60% to 90%. Based on the deposit available we select the correct loan to value ratio that offers you the best rates and lowest fees to you. Low-doc loans might have lower borrowing capacity than full-doc loans. They usually have higher sensitized interest rates and higher net servicing ratio to qualify for the loan.
Typically, a deposit of 10% is required for a Low doc loan. This will depend on lender requirement but we will generally recommend to have minimum 20% deposit plus stamp duty.
At Everrich Finance we have access to a broader selection of Low-doc loan options and bring valuable experience in working with these types of loans. We can evaluate your financial situation and help you identify lenders that aligns with your needs. This allows you to save time and effort, as our experience team of brokers often know which lenders are more likely to approve your application and can assist in negotiating more favorable terms.
Yes you can, if you have a substantial deposit – typically 20% or more.
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Unsure if you qualify? Let us assess your situation and explore the home loan options available to you for your low documents loan application.
