Low Doc Home Loan
Low Documentation (Low Doc) Home Loans are designed for self-employed customers and small business owners who may not have access to the financial statements and tax returns usually required when applying for a home loan.
Our lending specialists will help you choose a home loan with a Low Doc option.
The Low Doc option is available on the following home loans: (package discounts are not available on Low Doc Home Loans)
What you’ll need to apply for a Low Doc Home Loan
If you’re self-employed and looking for a Low Doc option, there are some conditions that apply.
- You need to have been self-employed in the same industry for at least one year and supply details such as your ABN and/or Certificate of Incorporation
- You need to provide your Business Activity Statements (BAS) for the past 12 consecutive months, verified by the Australian Tax Office (ATO)
- You need to confirm that your income has been registered for GST for a minimum of 12 months
- You may be asked to provide six months’ worth of statements for your primary business or personal transaction account
- The maximum amount you can borrow on a Low Doc Home Loan is 80% of the property value
- If you are borrowing more than 60% of the property value, you will need Lenders’ Mortgage Insurance.
Make an appointment online or call us on 13 2224 to speak with a lending specialist about how to apply for a Low Doc Home Loan.
Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the Loan Offer. Bank fees and charges are payable. Low Docs Loans are not available on 1-year Guaranteed Rate, 12-month Discounted Variable Rate, 3-year Special Economiser, Equity Unlock Loan for Seniors and No Fee Variable Rate.
Package discounts are not available on Low Doc Loans.