Access the right finance...
...as a self-employed worker or freelancer!
At Rise High we understand that not everyone will satisfy the standard requirements for most home loan applications.
As your mortgage broker, we find it rewarding to say YES! Even when most banks would probably say no.
With low doc loans we can help you access the finance you need to achieve your dreams and goals.
We are here to help you find the right loan that provides a balance of features and flexibility, whilst being as cost-effective as possible.
What is a Low Doc Loan and what documentation is required to secure one?
If you are self-employed, most lenders will generally require you to provide 1-2 years of final accountant-prepared financials and tax returns to prove your income. Low Doc loans, however, allow you to apply for a loan without your financials and tax returns and offer the opportunity to provide an alternative form of verification to demonstrate your income. For example instead of providing financials you could provide:
- Your last 12 months bank account statements for your business trading account
- Your last 12 months BAS statements
- A signed declaration from your accountant confirming your income
Most lenders will also require you to have an ABN which has been active for more than 2 years and be registered for GST. A clean credit history also helps to secure competitive Low Doc loan options.
How do Low Doc Loans work?
Your Rise High Mortgage Broker will be there to work with you, comparing and evaluating your options to support you in making the right financial decision.
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Assessing your personal circumstances
Before we start comparing lenders and options, it is important to understand your personal circumstances, what kind of documentation we will need, and how much you can afford to borrow.
Your borrowing capacity can often change and will depend on various factors including how much you earn, what your living expenses are, and your credit history.
Our team of Mortgage Brokers can help you make an initial assessment of your circumstances, including how much you can afford to borrow, to make the right decisions and get the right finance option for your needs.
Other Frequently Asked Questions:
Still looking for an answer? Here are some common questions and topics you might want to explore when looking for a low doc loan:
Ready to find out more?
Our award-winning brokers are always here to support you in achieving your financial goals. With a fee-free service, complimentary loan reviews that save you money, and regular updates and communications, you can always be confident to have a lifelong financial partner that will keep your best interests at heart!