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Low Doc Loans
Which Low Doc Loan Is Right For Me?
Suitable for borrowers who are unwilling or unable to provide verification of their income. Generally only available to people who are self employed, or casual employees. Compared to full doc, these loans generally carry a higher interest rate and are available only at lower Loan Valuation Ratios (LVRs).
The market for low doc loans has changed dramatically since the
Global Financial Crisis. Low doc lending is a specialist area
and now it is more important than ever to obtain the right
advice from people with the necessary skills and experience to
provide you with the best low document lending solution
Product Matrix:
- Minimum Loan $100,000
- Maximum Loan Value on purchase (LVR) 85%
- Maximum Loan Value on refinance (LVR) 80%
no limit on cash out
- Maximum Loan Value on Land (LVR) 80%
- Maximum Loan Value on construction (LVR) 80%
- Available for owner occupied & Investment
- Standard rates up to 60% LVR
- Up to 85% on purchase or 80% on Refinance - No BAS
Statements ABN registered for 6 months - GST registered if
income declared over $75,000
- Low Doc Loans suitable for borrowers with credit
impairments inc defaults & Judgments.
- Income verification can be provided by Personal Income
verification or Accountants verification or Business Bank
Statements or BAS Statements or a combination of above.
- Low Doc Loans suitable for borrowers
using companies and trusts.

Under the new
National Consumer Credit Protection act any loan that is
predominately used for residential or personal use will be
treated as a coded loan. This applies to investment and owner
occupied properties. What this means is that in
all cases the funder and the broker will now be required by
law to be comfortable that the borrower can service any
debt.
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