Low doc loans provide self-employed borrowers with the finance they need to make their dreams of home ownership a reality. Unlike traditional mortgages, low doc home loans don’t require the same amount of paperwork at the time of application. In addition to being asked to self-certify their income, low doc home loan borrowers may be […]
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Self-employed borrowers can do plenty to improve their chances of receiving a home loan by following some smart strategies. Obtaining a home loan can be difficult for anyone, but the mountain can be particularly hard to climb for self-employed borrowers. It’s with this in mind that Australians who act as their own bosses should employ […]
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Understanding how lenders mortgage insurance works is important for borrowers of all stripes, whether for traditional home loans or low doc home loans. Whether in the market for traditional home loans or low doc home loans, one matter you’ll need to understand concerns insurance – specifically, lenders mortgage insurance (LMI). What is LMI? LMI is […]
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Low doc home loans can be an invaluable tool for self employed borrowers, but low documentation isn’t the same as no documentation. Borrowers will still be asked to provide some proof of income and assets, and oftentimes this involves a BAS. What is a BAS? A business activity statement, or BAS, is a special form […]
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The existence of self employed home loans doesn’t mean you’re eligible for home finance simply for being your own boss. While these types of loans are specifically designed with self employed individuals in mind, it’s still important for potential borrowers to make themselves as attractive as possible to lenders. This includes focusing on financial areas […]
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Low doc loans are a finance product available to people who are finding it difficult to borrow through traditional means. This is often because they do not have the financial statements or tax returns they need to get approved – usually due to being self-employed or having a less-than-stellar credit history. However, low doc loans […]
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Having an Australian Business Number (ABN) is vital if you are thinking about becoming self-employed, otherwise companies you deal with can hold up to 46.5 per cent of payments to you for tax purposes. An ABN will also be required by anyone hoping to obtain credit in the form of a low doc loan – […]
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Low doc home loans can be the perfect solution for people who are finding it difficult to qualify for a traditional mortgage, for example if you are self-employed. However, should you apply for low doc loans, there are still a number of criteria that will be assessed before you will be approved. Here is a […]
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Low doc loans are a relatively new product in the Australian mortgage market. In fact, they were only introduced to the country in 1999. Since then, low docs have revolutionised housing finance for many people across the country, allowing people to turn their home ownership dreams into a reality. However, many people are still unaware of […]
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Whether you’re familiar with low documentation loans or not, the most important question to ask yourself is: Are low doc loans right for me? Fortunately, this is an easy question to answer. Are you self-employed? Do you have income and assets, but may be unable to provide the necessary financial paperwork at the time of […]
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