If you have your own business and looking for loans but are not able to prove your income, then Low Doc home loans are there for you. Through these home loans, you can borrow money hassle free without being worried about the tax returns or financial statements. With these home loans, you need not to submit documents just to prove your income, assets and liabilities.
Where the standard and low doc loans differ?
These low doc loans do not require any traditional proof of income and you just need to complete a declaration that confirms that you can afford the loan. While for a standard loan, you will have to show your income with your tax returns.
If you are looking for a low doc home loan, you need to satisfy some requirements that are:
- Self-certify your income
- Confirm that you are self-employed usually with accountant’s letter
- Clean credit history
- Good payment record
If you fulfill all these requirements, you can borrow money through these loans for residential, investment or business property purchases. You can expect significant advantages from these low doc loans if you are self-employee
Let us have a look: -
- Exactly suits your financial situation
If you are self-employed, you exactly know that your day-to-day finances are difficult to manage. With these low doc loans, you can ensure that you can easily make repayments on your home loan. These type of home loans best suit your situation.
- Do not feel left out of market
Generally, the self-employed people feel that they are being left out of the market, but now no longer with low doc home loans.
You can also contact a broker who can help you with the best low doc home loans. After all, there is no shortage and you can go for many options.