Low Doc Home Loans

Low Doc Home Loans Australia

Are you a self employed looking for low doc home loan? Thinking of purchasing your first home or refinancing your existing home loan? 

Look no further! Contact RealLoans Home loan expert for low doc mortgages.

We specialise in loc documentation loans for self employed individual, company or trust.

Low Doc Loan with Realloans?

Brokers – Expert and Independent

We have one of the best home loan brokers that provide every customer a personalised service depending on their individual needs.

30+ Lenders

With over 30 lenders available, RealLoans Mortgage Brokers will provide you with the low doc loan option that is best suited for you.

Easy Loan Approval

Mortgage Broker at RealLoans will guide you throughout your home loan process and ensure you have a quick easy loan approval. 

Smooth Loan Settlement

We will ensure that your mortgage application process is smooth and we will keep you informed throughout the process until the settlement. 

What is a low doc home loan?

Low doc also know low documentation home loan is not your normal home loan. The Low Doc home loan require very less documentation as compared to full doc home loan that usually require 2 most recent tax return (individual and company) and Notice of assessments (NOAs).

Low doc loans are designed for self-employed individuals or business owner with ABN that cannot provide payslips, financial statements or tax returns as documented evidence of income.

For a low documentation home loan, a self-employed borrower would typically need to provide proof of income using a combination of the following:

  • Proof of ABN and/or GST registration
  • Business Activity Statements (BAS)
  • Business Account transaction statements
  • Accountant’s letter

If you’re a self-employed or small business owner and don’t have the required documents for a standard home loan application, then a low doc home loan that what you need. We at Realloans Australia, we help self-employed sole traders, contractors and small business owners and more with the home loan.

What documents are needed for Low Doc Home Loan?

Even if it’s a low doc mortgage, the bank will still need sort of evidence to make sure that you are able to make regular and minimum repayments. 

  • Business Activity Statements (BAS) – Depending on the Bank and lender, they may ask for up to 12 months of BAS information
  • Bank statements – Statements to provide evidence of income over the period of time. 
  • Personal declaration – when you apply for a low doc home loan, stating how much you earn and providing a declaration you believe you can repay the loan
  • Business details – Details, such as your ABN and Business name 
  • Accountant’s letter – A document from your accountant may also be required that verify your income
  • Guarantor – Sometime from the family/relatives guarantees own your behalf that the home loan will be repaid.

Low Doc Loan Features

Borrower TypeIndividual, Company and Trust
Loan PurpousePurchase, refinance of owner occupied and investment properties (including vacant land). Debt consolidation of up to 4 debts and cash out for acceptable personal purposes.
Maximum Loan Amount$2,500,000
LVRUp to 90%
Credit HistoryBad or Good
ABN/GST6 months ABN and GST is ok but 2 years old ABN and 1 year GST registered is ideal
Loan Repament TypeP&I and interest only
Interest Rate TypeVariable only
Additional Features100% offset and redraw available 

Which lenders offer low doc Mortgages?

Realloans Australia have access 30+ lenders with some offering low documentation home loan for self-employed with variable interest rate. Bank are offering low doc loan principal & interest and interest only repayment along with features like 100% offset account, redraw or extra repayment jus like you normal home loan.

Many banks, credit unions, building societies and other non-bank lenders offers a low doc home loan in Australia. When it comes to low doc home loan each lender have different lending criteria, rates, fees and features.

Most lenders offering low docs home loans will charge some sort of risk fee, ongoing fee or annual fee. That’s why it’s always a good thing to take into consideration when choosing one bank over the other, not just the interest rate.

The LVR of the home loan varies lender to lender and may also vary depending upon where the security property is located. You may surprised to know the some lender charging more risk fee for a property in regional area as compared to Metro. You may also need to more deposit, depending upon you circumstance and credit history.

Low doc home lender are Resimac, Better Choice loc doc Home Loans, liberty, MKM Capital, Pepper Money and Latrobe Financial

What are the pros and cons of low doc home loans?

Pros:

  • Simple income declaration form
  • Alternatives to tax returns as income evidence are available
  • Fully serviceable loan options, redraws, line of credit, variable or fixed rates
  • Less Paperwork
    Short and Fast home loan application process
  • Principal & Interest or Interest-only loans

Cons:

  • Generally, a higher interest rate and potentially fewer features
  • Might need a larger deposit
  • Not every bank or lender offers low doc loans

Low Doc Mortgage FAQs

Do you offer loc doc construction loans?

Yes we offer low doc home loan for construction in Australia. However be mindful of the LVR for low doc construction loan. It can vary on location category.

I need a loc doc loan for vacant land, which bank can lend me?

Yes, We have access to number of banks that offer loc doc land only home loan in Australia.

We about do you offer low document home loan in Australia?

We are based in Melbourne, but we can home loc documentation home loans through Australia. We provide loc doc loans in Melbourne, Sydney, Brisbane, Adelaide, Perth and other cities across Australia.

Which banks offers loc doc home loans?

If you think ANZ, NAB, Commonwealth (CBA) or Westpac bank offer loc home loan then think again. In Australia, only second tier lenders, some credit unions and private lenders offer low doc home loans. RAMS used to offer low doc mortgages few years ago but no now.

I need to refinance my low doc home loan to better rate low doc loan, can you help?

Yes we can help you refinance your home loan with best interest rate with minimum documents. Whether your reason of refinance your home loans may it cash out, debt consolidation, ATO debt, for investment or just for better rate. We have access to the lenders that offer low doc home loan at less than 3% interest rate, “Don’t miss the opportunity”, Call us now

Whats is the interest rate for low doc home loan in Australia?

The interest rate for low doc mortgages in Australia starts from 3%. The low doc rate for home loan varies design upon individuals situation.

Can I get low doc home loan with Guarantor in Australia?

The low doc home loan with Guarantor is available in Australia. Your may be eligible for low doc Guarantor home loan, contact us to check your borrowing power.
Enquire now

I am a self-employed and I am thinking of buying an investment property but don’t have current financials, does Realloans offers low documentation loan for investment property?

Yes at Realloans Australia provide low doc home loans to self-employed for buying an established investment property or for construction of investment property.

Are low doc loans still available if yes what’s the maximum LVR for a home loan?

Yes the low doc home loans are still available in Australia. The maximum LVR for a low doc mortgage is 90%. With 90% Low doc home you might to provide more than 1 evidence out of BAS, Accoutant’s Letter or 3 or 6 months Business banking statement.

How do I apply for a low doc loan in Australia?

Our mortgage brokers are experts in low doc financing. Send us an online enquiry or call us at +61412447728 and we will be in touch with some free quotes from leading bank and non-bank lenders that specialise in low doc and lite doc lending.

Let our Realloans broker get you your doc home loan.

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