Enquiry Today

Low Doc Loans Melbourne

What is a low doc loan?

A low doc loan is a mortgage that can be taken out using different income verification documentation to that required of a full doc loan. These are often used by self-employed borrowers, who may find it difficult to provide conventional proof of income.

Low Doc Loans Melbourne

Simple Facts About Low-Doc Loans

Are you wondering how low-doc loans work in Melbourne, Niddrie, Essendon, Airport West, Avondale Heights, East Keilor, Moonee Ponds? There are some facts which might help you understand about lending process of low-doc loans:

These low-doc loans do not require applicants to present pay slips to their lenders like other mortgage loans. In low-doc loans there is an understanding that the applicant either does not have a traditional job or cannot prove their income by presenting a pay slip. So, these loans are ideal in that case.

When applying for a low doc loan, some lenders only require a minimum of two documents, which may include documents such as the following:

  • A Signed Borrowers Income Declaration stating your usual income
  • Your registered business name
  • Your BAS for the last 12 months
low doc loan

How much deposit do you need for a low doc loan?

Most low doc lenders require a deposit of at least 20% although some may accept 10%. However, if you want to get a home loan with a 5% deposit, you will either need to show two years tax returns, or you will need a guarantor for your home loan.


Our Lenders

Investment Property Loans
Commercial Loans
Personal Loans
Business Finance
Asset Finance

Loan Calculator

Click Here

Let’s Talk Finance

Call 0450 816 136

Get In Touch

Click Here

Latest News

How long does it take for an interest rate rise to kick in?

Household budgets around the country are feeling the brunt of five back-to-back rate hikes. And we’ve been warned more are on the way. But just how long does it take...

Read More…

Is now a good time to buy?

Recent back-to-back interest rate hikes have led to a cooling of the property market, and with more rate rises predicted, you may feel like pumping the brakes on purchasing. But...

Read More…

RBA hikes the cash rate for fifth straight month to 2.35%

The Reserve Bank of Australia (RBA) has hiked the official cash rate by another 50 basis points to 2.35%. Here’s how much you can expect to pay on your mortgage...

Read More…