This is a quick and easy process, all you need to do is complete and sign a declaration form stating your income, no proof of income is required, no pay slips or tax returns.
These days you can get the Lo Doc (Low Doc) loans almost at the same rate as standard loans, the major difference is that Lo Doc loans require you to pay mortgage insurance above 60% LVR (Loan to Value Ratio) and standard loans only above 80% LVR.
Also, with smart structuring of this loan you can have plenty of features included.
This type of loan is designed to help people who are self-employed or just started a business.
Choosing the right Low Doc Home Loan can be a confusing and time consuming exercise. Our Lending Managers can provide you with information to make an informed decision. We also have lenders that will pay the mortgage insurance for you so contact us to know more.
