What is a Low Doc Home Loan?

A Low doc home loan is a mortgage that borrowers can take out with less documentation than what is required for a standard home loan. It is designed for individuals who are unable to provide the full two years of tax returns and financial records required for a standard home loan application. Low doc loans mostly cater to self-employed borrowers or investors who have not yet filed their tax returns or are unable to meet the requirements of a full doc loan.

●This type of home loan is well suited to borrowers who have a combination of assets and income, but aren’t able to provide normal paperwork such as tax returns or financial statements.

●Low doc loans are also suitable in situations where tax returns are yet to be completed, or are out of date, so alternative documentation (such as BAS statements) is provided as a better reflection of current conditions.