Loc doc loan.
For self-employed individuals, the loan industry is even more difficult to navigate. Many lending establishments see a self-employed individual as a high-risk. Instead of getting great rates or more borrowing power, if you work for yourself, banks tend to be more hesitant and give you lower loan amounts. Years of financial statements, interim account documentation, tax returns and numerous other types of paperwork may be required at a bank for you to receive alone.
If it’s difficult to produce all the documentation a Low Doc loan could be in your best interest. For approval, you need to list your income on a form, reduced income evidence (a BAS), an accountant’s declaration or statements regarding your business account. Does the paperwork still seem overwhelming? We understand and Mr Loan is at your service to guide you through all the necessary documentation. Contact our skilled expert mortgage brokers for help today!
With the help from Mr. Loan, you don’t have to do this alone, we have a team of experts can help you out with the hassle. Call us to speak to one of our expert mortgage brokers.
We help you to find the “right” lender.
Why use a low doc loan?
- Your tax returns aren’t current. A Low Doc Loan doesn’t need them.
- You may have a larger budget than last recorded on your tax return.
- You may have depreciation that doesn’t count as a true cost.
- Your business may be difficult to compartmentalize.
- Your income has been divvied between family members in the form of a trust.
Who is eligible for a Low Doc Loan?
Small businesses benefit from low doc loans. Contractors, ABN holders and others who are self-employed that have difficulty producing documentation to support a regular business loan also have access to a low doc loan. Even if you have been employed by a business you may be able to gain some access to a low doc loan but they may prove more difficult to acquire in those scenarios.
Why choose Mr. Loan?
We have won an Australian Broking Awards in 2017, and we live our mission every day: to help people get their dream home.
We specialise in helping people with complex financial situations and those who do not meet standard bank policy. We do this by working with each individual application so we can fully understand your real life situation and help find a suitable solution.
Our brokers are among the most qualified in the industry. We hold them to educational standards set forth by the FBAA and internal customer service standards that create great customer experiences.
Our professional consultants will choose the best possible products for customers, based on their individual financial abilities, allowing customers to save time, effort and money.
Contact us today, let’s us help you to get your first home fast.
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