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This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about Home Loans from multiple financial institutions. We will try to show you a range of products in response to your request for information. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a Home Loan, you will deal directly with a financial institution, and not with RateCity.

Low doc home loans

are commonly used for the self-employed and for borrowers in circumstances where they are unable to provide proof of income and years of financial paperwork. Low doc literally means 'low documentation' and refers to financial statements, such as tax returns and pay slips.

If you do have your financial records up to date you may also be given the option to apply for one of their standard home loans. Compared to standard home loans, low doc loans allow you to obtain finance with less documentation but also come with the extra price tag of higher fees and greater interest rates.

These special lending products are available from most banks and institutions and can be used for:
  • Investment purposes
  • Home owners who are simply living in their own property.
  • Business loans
Whether you are interested in a fixed or variable rate loan, your application will be subject to the Bank's usual credit approval process.

Is a low doc loan right for me?

If you are self employed or are having difficulties getting a home loan due to an uneven flow of income, then a low doc loan may be suitable for you. Low documentation loans provide a home lending option for those that have difficulty presenting financial statements about their income. Be sure to check the product disclosure statement and if you're unsure. And if you still have doubts after reading the fine print, speak to a financial advisor.

Related Search: Compare low doc loans
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About Mortgages Articles

RateCity provides mortgage news and features, including a range of weekly stories and economic updates. By checking our mortgage news and features daily, you can ensure that you receive up to date, expert commentary on current financial and economic issues. Before you search, compare or apply for the best mortgage for you, help yourself understand the market by reading mortgage news and features at RateCity.

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