Loan Types
Low-doc loan
A low-doc or no-doc loan is ideally suited for investors or self-employed borrowers looking to refinance, purchase or renovate. No tax returns or financial reports are required. These are typified by:
- Simple income declaration form
- No tax return
- No financial records
- Fully serviceable loan options, redraws, line of credit, variable or fixed rates, P&I or interest only loans
- Generally a higher interest rate, but as this product has been adopted by the major banks the interest rates are usually the same, however you may be restricted to the amount you can loan.