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A low doc loan or low documentation loan is a flexible choice for the self-employed, it is specifically designed for borrowers who have income and assets but are unable to provide financial statements or tax returns as evidence of their income.

They rely on a self-verification method where you state your income on a income declaration form without the lender verifying your income using documents, this means applicants do not need to provide proof of their income.

Though, the banks will complete their normal credit assessment and they will check that you can afford taking out a loan using the income that you have declared.

Which Lenders have Low Doc Loans?

  • CBA– MAV package low doc standard variable rate / MAV package low doc rate line of credit residential equity / MAV package low doc standard variable rate / Low doc line of credit residential equity rate / Low doc standard variable rate loan
  • Rams- Line of credit SE professional pack / SE pro pack / Rams SE pro pack 80 / SmartWay low doc / low doc 500 plus (80%) / low doc line of credit
  • Westpac- Premier advantage low doc rocket repay home loan / Premier advantage low doc variable investment loan / Premium option home loan low doc / Variable rate investment property loan low doc / Low doc variable investment property loan / Low doc equity access loan
  • St George- Professional benefits low doc portfolio loan / Professional benefits low doc / Low doc portfolio loan variable rate / Low doc variable rate
  • Suncorp- Low doc back to basics variable rate / Low doc asset line / Low doc standard variable rate
  • ANZ– Professional benefits standard variable residential land loan / Professional benefits standard variable rate / Breakfree equity manager / Equity manager low doc 60 / Standard variable rate low doc 60 / Professional benefits equity manager
  • NAB– Tailored home loan low doc / National flexi plus low doc
  • And many more.

Am I Eligible for a Low Doc Loan?

A low doc loan is more often than not offered to meet the need of small businesses, contractors and other ABN holders. It is designed for those who are self-employed which are unable to prove their income through documentation.

There are also low doc loans for people with a normal job, however they’re not as readily available.

Who can Benefit from a Low Doc Loan?

A low doc loan is specifically designed to benefit those who have a deposited saved or having some existing equity, thought they’re having trouble proving their regular income.
To benefit from a low doc loan you must have a sizeable deposit of at least 20% of the purchase price.

Please enquire online or call us on 1300 856 846 if you would like to talk with our mortgage broker who can give you expert advice on low doc loan.