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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. The search results do not include all provider sand may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. See the rating methodology 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

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Low Doc Home Loans

Low doc home loans are otherwise known as low documentation loans and are a type of mortgage that is available for borrowers who cannot prove their income and cannot provide all of the regular paperwork required for standard home loans such as tax returns and pay slips. Generally these types of loans were created for self employed, but they may also be suitable for those who may have a bad credit rating or who are not full-time workers.

Low doc home loans generally have a higher loan to value ratio (LVR), usually between 60 to 80 percent, which means that you will require a higher deposit. They also usually have a slightly higher interest rate than standard home loans. These types of loans are seen as higher risk so depending on the lender, you may require to secure the loan with assets such as vehicles, homes you own or other investments.

If you think you fit into the category for a low doc home loan, check out the table below which shows the top low doc home loans currently available.

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Hemisphere Financial
Alt Doc PLUS 90%
9.19%
Variable
9.23%
$949
$2,130.62
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Monthly repayments are based on advertised rate, loan amount and selected payment frequency over 25 years.

The comparison rate is based on secured credit of $150,000 and a term of 25 years. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan.

Consider whether this general financial advice is right for your personal circumstances. You may need financial advice from a qualified adviser. Read our detailed disclosure here.

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