LOW DOC HOME LOANS
Why Choose Low Doc Home Loans?
We at Singh Finance understand that it is not always easy for self-employed applicants to obtain a conventional housing mortgage. We also appreciate that this situation is further complicated by the vast amount of financial information you are required to provide.
Who Needs Low Doc Home Loans?
Low Doc finance is available for benefiting self-employed applicants who in the past have been denied access to finance, because they have an irregular income. Low Doc home loans has also gained significant prominence post GFC with the introduction of Responsible Lending Requirements by lenders.
If you are self-employed, and you are considering low doc home finance, and you are frustrated by the complexities of obtaining self-employed low doc finance, we recommend that you use our expert services because our team of finance brokers:
- Are conversant with lender's policy, pricing and requirements. Furthermore policies, guides, lenders requirements and interest rates are constantly changing, and this is where our finance experts are better able to assist you to find the right financial solutions and to avoid any disappointments
- Our finance brokers always work within the confines of the responsible lending guidelines they want to ensure that you borrow funds only to the level; you can service and finance
- As part of our ongoing compliance requirements and our commitment to adhering to the responsible lending requirements, we request that you provide to us as much income documentation as possible
- We will assess all individual mortgage deals before the mortgage is packaged and submitted to the lender
What Documents Are Required to Confirm Income?
The income documents required for Low Doc home loan will vary from lender to lender and consist mainly of:
- Business Activity Statements (BAS) for the past 12 months are required
- Bank Statements evidencing tax payment for the business
- Letter from your Accountant confirming trading figures
Can You Explain The Loan Product Features And Benefits?
The mortgage Product features are equally important and consist of:
- 100% offset account
- Ability to repay the loan sooner than required
- Repayment method (i.e. fixed or variable rate)
What Factors Determine The Interest Rate For Low Doc Home Finance?
Some of the factors that lenders consider in determining the interest rates include:
- Income documents provided by the client
- Nature of and type of the security property
- Client credit history
- Mortgage size amount
- Aggregate of total exposure to the lender
- The period of time client has been in business
- Age of borrowers
- The purpose of seeking finance
Why Choose Singh Finance?
It is always advisable to start the finance application process with Singh Finance as soon as possible, because:
- We know what the standard requirements for Low Doc Home Loan loans are
- We can accommodate a much faster credit decision for you, provided that we receive from you all the required documents as soon as possible
- We can calculate how much you can borrow
- We can calculate your interest rate and the monthly loan repayment amount
- Our team of expert finance brokers has successfully helped a number of clients with Low Doc Finance loans
- We know the numerous lenders credit policies and procedures, as we deal with them on a regular daily basis
While you concentrate on getting your purchasing your home or refinancing your mortgage, our team of professionally qualified finance brokers will:
- Look at your overall financial position, and they will establish a budget for you
- Eliminate the stress and time it takes in running around trying to find your own finance package solution and at the right price
Our finance brokers will also provide you with a convenient pre-approval so that you will have the peace of mind knowing that:
- Your Low Doc finance application has already been assessed by an accredited finance broker and in accordance with the responsible lending criteria
- Your finance is already pre-approved, and you will also know the conditions of your pre-approval
- You have the upper hand when negotiating the sale price with the vendor or real estate agent
Customised Low Doc Home Loan Solution
Our team of professionally qualified finance brokers is all experts, who pride themselves on their ability to structure and implement a customised Low Doc home loan and insurance package solution that meets your needs regardless of the size or complexity of the project. They will also:
- Structure your Low Doc Finance mortgage and your insurance package to suit your individual needs, budget and circumstances
- Help get you the best Low Doc finance deal you want in the quickest possible time and without the hassle of running around trying to find your own finance
- Liaise with the lenders to give you the perfect Low Doc home loan package solution and at the right price
- Offer you the highest level of customer service
- Build a strong relationship with you
- Go out of their way to develop a long term customer loyalty with you and all our clients
Contact Singh Finance Today
For an obligation free assessment and, to arrange a pre-approval for you, please contact us today or visit our website and enquire on Low Doc home loans by completing our "Contact Us" page, on the website, and one of our professionally qualified and expert finance brokers will contact you, to make an appointment to see you at a time and place convenient to you.