Low Doc Loans
Are you able to declare an income?
Then a low doc loan may be more suitable for you.
Low Doc Loans are different to No Doc Loans in that they require an income declaration
No Doc loans do not require an income declaration.
Low Doc Loans are still available for the self employed, and small business owners in Australia
Even though there is no doubt that there has been a tightening of credit in Australia, lenders are still lending to the self employed.
The days of the income declaration only low doc loan have currently gone.
Instead, lending institutions are now requiring all low doc loans to be supported by one of three options:-
1/ An accountants letter, or
2/ The last four BAS statements, or
3/ Trading statements from the business entity that is generating the income.
The third option being the most popular