Is This For You?
If you’re self-employed & have an ABN for 6 months or more, then a low doc home loan may be what you need.
You may not tick the usual home loan application boxes but still need to get on with your life.
Some of these might apply to you
You’re a self-employed worker
Low doc home loans are ideal for self-employed individuals who may not have consistent pay stubs or tax returns to prove their income. These borrowers can still obtain financing by providing alternative documents, such as bank statements or a letter from an accountant.
Your income is seasonal or irregular
If your income is seasonal or irregular, you may find it challenging to get a traditional home loan. Low doc home loans offer more flexible income requirements, allowing seasonal or irregular income earners to apply for financing and purchase a home.
Where is your income coming from?
If you earn income from various sources, such as rental properties, investments, or other businesses, low doc home loans may be the right choice for you. These loans allow you to provide alternative documents to prove your income, such as rental income statements or profit and loss statements.
Employment Changes
If you have recently changed jobs or industries, it may be challenging to prove your income to traditional lenders. Low doc home loans provide more flexibility in employment history and can be a suitable option for those who have recently undergone a career change.
Are you a small business owner?
Small business owners may struggle to provide traditional proof of income, as they may not have consistent pay stubs or tax returns. Low doc home loans can help small business owners obtain financing by providing alternative documents, such as business activity statements or profit and loss statements.
Overall
low doc home loans are an excellent option for those who may not meet the income requirements of traditional lenders or face challenges in providing traditional proof of income. These loans provide greater accessibility and flexibility for self-employed workers, seasonal income earners, small business owners, and those with varied income sources.