A low doc home loan, short for "low documentation home loan," is a type of mortgage designed for borrowers who have difficulty providing traditional income verification documents typically required for standard home loans. It is particularly useful for self-employed individuals, small business owners, freelancers, or investors who may have fluctuating income or limited financial documentation.
The key features of low doc home loans include:
The use of low doc home loans can benefit individuals who may not meet the strict income verification requirements of traditional mortgages. They provide access to financing for those who have difficulty providing conventional proof of income. Low doc loans can be used for various purposes, including:
It's important to note that while low doc loans provide flexibility, they can carry higher costs and risks. Borrowers should carefully consider their financial situation, repayment capacity, and seek professional advice to ensure it is a suitable financing option for their needs.
Get in touch with us to see if a Low/Alt Doc home loan may be suitable to your current situation.
We provide a mobile broking service and will come to you. This can be after hours or whenever is best suited to your individual needs.
Lang Lang, Victoria, Australia
0475705090 Aaron@paradymfinancialgroup.com.au Aaron Wiesniewski is a credit representative (549464) of National Lending Group Pty Ltd ABN (43 152 947 852) (Australian Credit Licence 412778).
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Paradym Financial Group
Lang Lang, Victoria, Australia
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The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.
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