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Are you self employed & have fluctuating income or tax returns not up to date or had a loan application declined by your bank? We can help get your loan approved.
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You're in the right place for a low-doc home loan
Low doc home loans, as the name suggests, are loans that require less income documentation for the approval process. These loans allow business owners to self-declare your income without having to provide tax returns. It is a common misconception with low doc home loans that you have to provide little or no documentation. Low doc refers to the income side of an application with all the other requirements for documentation being the same as a full doc loan such as saving statements and ID documents. Of all Australians, 14% are self employed. Running your own business not only means that you have to earn your income, but you also have to look after the books. Not surprisingly looking after the books often comes a second place to working to earn your income. This means that tax returns can often be submitted a little late. Putting together the documentation that a lender requires can be quite overwhelming for people with complicated finances or fluctuating income like business owners; low doc loans eliminate this burden and provide a simpler solution.
Specialist mortgage brokers for business owners.
A major factor in the success of any loan application for the self employed is having an experienced broker who specialises in business finances. We can provide you with a self employed specialist mortgage broker who understands the many complexities of company finances as well as the lending criteria and flexibilty of the lenders. Your broker will ascertain if you require a standard or a low doc home home and work with you, your accountant and the lender to get the right home loan for you.
Low-doc loans are ideal for the following scenarios
  • Self employed for a minimum of 6 months
  • Tax returns and financials are not up to date
  • Have a fluctuating income
  • Prefer the convenience of providing an income declaration rather than 2 years of tax returns and financials
  • Have had a home loan declined by their bank
A self-employed borrower would need to provide proof of income using a combination the following
  • Proof of ABN and/or GST registration
  • Business activity statements (BAS)
  • Business account transaction statements
  • Accountant’s letter
  • Business & personal tax returns

Usually, the only documentation you need to provide for a low doc home loan is a Borrower Certificate of Income Declaration Form signed off by your accountant. In some instances the provision of the last 4 quarters BAS statements is a requirement. Low doc loans are not suitable for everyone, with potentially higher fees and charges, but they are an essential product for many people, especially business owners, providing finance that may otherwise be impossible. As with any loan product, it is imperative that you are aware of all the terms and conditions so the decision you make is an informed one. You need to ensure you consider all your options to get the lender and the loan that best suits your needs. Contact our team at Assured Lending Mortgage Brokers in Parramatta today to see if a low doc loan is a good fit for your financial circumstances.

Advantages & disadvantages of low doc home loans
  • With the reduced documentation required, the approval process for a low doc loan is much easier.
  • Most low doc home loans have all the features of standard variable and fixed-rate home loans. Your Broker will make sure you understand the terms and conditions of the loan options available to you.
  • The interest rates on low doc home loans can be slightly higher than traditional loans as the risk for the lender is higher.
  • There can be limits on the amount you can borrow which will vary depending on the loan and the lender.
    In many cases, you cannot borrow more than 80% of the property value. There are options to borrow up to 90% but the interest rate is higher.
  • Low doc home loans can carry additional fees and charges.
    Some low doc home loans require the lender to take out compulsory mortgage insurance.
How we'll get your low doc home loan approved
No matter what your circumstances, we will find the right home loan for you from our range of Australia’s leading lenders. We will do all the research and then present you with all your options.
Talk with our broker
Step 01
Loan Eligibility Review
Kickstart your loan journey with a quick 5-minute eligibility review over the phone.
Step 02
Borrowing Power Calculation
Discover your borrowing power. We'll calculate the amount you can borrow, providing you with a clear understanding of your financial potential.
Step 03
Extensive Loan Comparison
We'll compare a wide range of home loans from Australia's leading lenders, specializing in self-employed loans. Find the perfect options tailored to your unique needs
Step 04
In-Depth Loan Options
Explore your loan options in detail. We'll explain the pros and cons of each choice, outline different lender requirements, and clarify the terms and conditions available.
Step 05
Application Assistance
Ready to move forward? We're here for you day or night, providing personalized support to go over your application and address any questions you have
Step 06
Application Management
We take the reins. Our team assembles your application and handles interactions with the lender, accountant, and lawyers on your behalf, ensuring a speedy approval process
Step 07
Contract Understanding and Settlement
Once your application is approved, we guide you through understanding the contracts and ensure everything is prepared for a smooth settlement process.
No matter where in Australia your located, we'll find the right loan for you.
Get in touch with our team for a free 15-minute consultation call.
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