Low Doc Loans

Low doc (or low documentation) loans are a flexible solution for people – most often for the self-employed or commission based – who do not qualify for a traditional home loan to buy a property. 

Don Crellin, General Manager at Resolve Financial Solutions, states that "Low doc loans still require an application to be made in writing; however you may not be required to provide as much of the paperwork that is necessary with standard home loans, such as proof of income."

He describes it further by saying "You may not need to produce payslips, tax returns or other proof of income. Instead you are usually asked to simply state your income without the supporting documentation – a process called self-verification."

Low doc loans can help if you do not qualify for a standard loan, however certain conditions apply.