Hausing Mortgages can assist those who lack evidence of income through a selection of Low Doc (Low Documentation) mortgages.
Low-Doc home loans are designed for business owners, contractors or freelancers who have varying income levels due to the nature of their work.
Call us today if you’re struggling to get a home loan approved due to your work situation. With a wide range of finance products accessible to us, we’re confident we can deliver a tailored solution to your needs.
The following documents are usually required for Low-Doc mortgage applications:
- Last 1 year BAS statement.
- Accountant letter
Low-Doc loans usually
- Require less paperwork during the application process.
- Are quicker to apply for than a regular mortgage product.
- Have a higher interest rate and repayment amounts than regular mortgage products. These are factored in by the lender to compensate them for the potential risk of providing the mortgage.
- Include discounts to higher interest rates after demonstrating regular home loan repayments
- Require the borrower to take out Lenders Mortgage Insurance which adds to the cost of purchasing property
Those who are self-employed or don’t have a strong financial history are invited to discuss their situation with Hausing Mortgages who can clarify what documents you will need to obtain a loan, present the various mortgages available from a variety of banks and lenders, and assist you with your application.
Hausing Mortgages is centrally located in Burwood and our small independent team will work directly with you from start to finish. Contact us today to learn how a low-doc loan can help you get into the property market.
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