Lo-Doc Loans

Break Down

• Most commonly used for 'Self-Employed',' Contract' or 'Season Workers', who do not have a regular income.
• A Lo- Doc loan facility is usually suitable for Self-employed or small company borrowers, whose financial statements/ tax returns may not be available for many different reasons.
• Usually to qualify for a Lo-Doc loan facility the borrower must generally have a clear Credit History.
• Being a Lo-Doc Loan facility enables you to apply for a loan, with minimal documentation, enabling them to join and have the home ownership like most other Australians, involved in home ownership
• Interest Rates at the moment, as extremely competitive, some lender's rate may vary with this facility, (discuss this with us at the time of application).
• Some Lenders may also require LMI (Lenders Mortgage Insurance) in order to secure the loan, usually once the lending facility exceeds 60% of the value of the property (LVR) as opposed to 80% for a standard loan.