low doc home loan

Low Doc Home Loans

People which do not qualify for standard mortgage have an option to apply for a low doc home loan. This type of loan does not require proof of income and assets & liabilities test. Persons applying simply state their income using self- verification method.

Signed declaration of income, a letter from accountant or existing property asset can be used to obtain low doc home loans.

Usually, people with bad credit history, self-employed, casual workers or people with equity in their existing property can apply for low doc home loans. The interest rate and mortgage insurance fees are higher than standard mortgage fees. It is possible to borrow up to 80 percent of the purchase price of the property.
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Low Doc Home Loans


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