What is a low-doc home loan and is it right for you?
It could be right for you if you are a self-employed freelancer, small business owner, investor, contractor, casual worker, seasonal worker, or an ABN holder, but lacking enough documentation to present to the bank.
Banks look at self-employed differently as compared to other borrowers because they think they’re high risk due to the potential fluctuations in income.
For banks, they think that this can affect your ability to meet repayments. With the help of the right mortgage broker, and a low-doc home loan, you’ll be able to prove your ability to get the financing that you need for your next property purchase.