Oak Laurel | Low Doc Home Loans
Get a home loans without having all the documents required to prove your income.
Low Doc Home Loans: mortgages for self employed people
What you need to know about low doc home loans.
Low Doc home loans are usually considered as higher risk by banks and lenders. This is because you are providing less evidence of your income. Because low doc borrowers are considered as higher risk banks usually require lower maximum Loan to Valuation Ratios (LVRs), higher interest rates (proportional to the assessed risk), and less loan features than regular (full doc) home loans.
To get a full doc loan (full documentation loan), a self-employed borrower usually needs to provide evidence of their income using a combination of:
- Tax returns
- ABN and/or GST registration
- Business Activity Statements (BAS)
- Business banks account transaction statements
- Accountant’s letter
Contact us about a low doc home loan
An Oak Laurel mortgage broker will go through your situation with you to ascertain the best way forward.
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Oak Laurel Mortgage Brokers – Low doc home loans made easy!