How to get a low doc loan while on low income

When you apply for a home loan, various documents are typically necessary during the process. While the exact requirements may change depending on the circumstances, in most cases you’re required to provide a large amount of financial paperwork, most of them concerning your employment. For instance, you’ll be asked to provide weekly payslips, tax returns […]

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What do I need to do to get a self-employed home loan?

Being self-employed can be one of the best experiences for earning a living. You run the show, so you might set your own hours, work from the comfort of anywhere you’d like, and avoid all the workplace drama found at other jobs. But there’s also a catch: Often being self-employed means your personal finances are […]

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Could a low doc loan help you break the cycle of renting?

If you’re self-employed or don’t regularly receive payslips, a low doc loan could be key to buying your first home. Low doc loans allow borrowers who don’t have payslips to prove their income via alternate documentation and get the approval they need. What’s involved with a low doc loan? Low doc loans allow borrowers to […]

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Using business activity statements for self-employed home loans

Business activity statements (BAS) are one way borrowers can prove they have sufficient income to qualify for a loan. Where employed people can use payslips to show their earnings, those running their own business have to get a little more creative. What is a business activity statement? Every Australian business registered for GST has to lodge […]

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How to use a low-doc loan to take your first steps into property investment

If you want to use a low-doc loan for property investment, you’ll need to find the right lender and understand what they require of you. Each has a different set of criteria, and breaking down how they’ll assess your application is key to getting approval. Understanding low-doc loans Low-doc loans are designed to help borrowers […]

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How long before you can apply for a self-employed home loan?

How many years you have to run your business before applying for a self-employed home loan varies according to the lender. As a rule, you’ll need to own your business for at least 12 months, and possibly for longer than two years. For some banks, the most important thing is not how long you’ve owned your […]

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Can low-doc loans work for first-time home buyers?

First-time home buyers can benefit from low-doc loans just like any other borrower. However, as with any other loan type, first-time buyers need to provide certain documentation that proves their reliability to the lender. How does a low-doc loan work? Low-doc loans provide a solution for those unable to prove their financial status through traditional methods […]

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Could 2019 be the right time to refinance with a low doc loan?

If you’re looking to reorganise your finances or release some cash for new investments later this year, then refinancing with a low doc loan could be the way to go. Commonly, borrowers want to refinance in order to release equity from a property to invest elsewhere, or to consolidate existing debt into one easy-to-manage lump […]

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Self Employed Lending Myths Busted!

This month we are focusing on lending to self employed clients. Why? Well there are more than 2 million small businesses in Australia, with small business accounting for 97% all businesses in Australia, so its a significant market. We’ve been assisting self-employed small business owners with their finance needs since 2004. That is why we are […]

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How quickly can a low doc loan be processed?

Low doc loans are lifesavers for people who aren’t able to easily prove their income to a traditional lender. They make it possible for the self employed to get on the property ladder the same as a regular employee or established business owner. For Red Rock Mortgages franchise owners, it’s a chance to help entrepreneurial […]

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