Low Doc Home Loan Refinance
A low doc home loan refinance refers to a refinancing option for borrowers who have limited documentation or are self-employed. These individuals may have difficulty providing traditional income verification documents, such as tax returns or financial statements, which are typically required for a standard home loan.
Low doc home loan refinancing allows borrowers to refinance their existing home loan with reduced documentation requirements. While specific requirements may vary among lenders, low doc refinancing generally involves providing alternative forms of income verification, such as bank statements, business activity statements, or an accountant’s declaration.
How does it works
Your Requirements
Looking for refinancing owner occupied home loan or investment Property for better rates or quick cash out, s.
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Getting Approval
Get your low doc home loan at best rate and that meet your requirement within as soon as possible lender and settlement within a week.
Low Doc Home Loan Features
- Individual, Company and Trust as Borrowers
- Low Doc Home Loans for Purchase, refinance of owner occupied and investment properties (including vacant land)
- Interest rates from 4.2%*
- Debt consolidation and cash out for acceptable purposes
- LVR Up to 85% for established home, 80% for construction loan and 75% Vacant Land
- Bad Credit History acceptable
Low Doc Home Loan Interest Rates
| 80.01-85% | 7.34%p.a. (7.37%p.a.) | 7.99%p.a. (8.04%p.a.) | 7.84%p.a. (7.89%p.a.) | 7.99%p.a. (8.04%p.a.) |
| 70.01-80% | 6.24%p.a. (6.27%p.a.) | 6.54%p.a. (6.57%p.a.) | 6.54%p.a. (6.57%p.a.) | 6.74%p.a. (6.77%p.a.) |
| 70% or less | 6.20%p.a. (6.23%p.a.) | 6.42%p.a. (6.47%p.a.) | 6.39%p.a. (6.40%p.a.) | 6.54%p.a. (6.57%p.a.) |
Minimum Requirement for Low Doc Home Loan Refinance
- Must be Australian citizen/permanent resident or visa holder*
- You must have registered ABN.
- Personal declaration and one of the following Business Activity Statements (BAS), Business Account transaction statements and Accountant’s letter
- 6 Months Loans Home loan statement that we are refinancing
Low Doc Home Loan Refinance
The purpose of a low doc home loan refinance is to provide flexibility to borrowers who have a reliable income but cannot provide traditional proof of income due to their self-employed status or other circumstances. It allows them to access better interest rates, lower monthly payments, or other favorable loan terms.
It’s important to note that low doc home loan refinancing options may have higher interest rates or stricter lending criteria compared to standard home loans. Lenders typically mitigate the higher risk associated with limited documentation by charging higher interest rates or requiring a larger deposit.
If you’re considering a low doc home loan refinance, Consulting with a mortgage broker can also provide valuable guidance and help you navigate the process effectively.
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