Low Doc Loans
Low Doc Loans can be a great option for businesses wanting to access finance with minimal documentation and reporting required.
A low documentation (low doc) loan is a mortgage that can be taken out using different documentation to that required by a full documentation (full doc) loan.
This type of loan is often used by self-employed borrowers, who may find it difficult to provide conventional proof of income.
Low Doc Loans are available for amounts up to $500K.
Low Doc Loans can also be used as a type of line of credit when the customer is looking to purchase additional vehicles and equipment.
Low Doc Loans Requirements
- Available limit of up to $500K maximum.
- Dealer and private sale.
- Application and a statement of assets and liabilities (in some cases additional docs are required such as BAS statements or ATO portal printouts).
- At least one director must be a property.
- ABN active for a minimum of 2 years
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