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How do lo-doc home loans work?

April 26, 2017home loans

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How do lo-doc home loans work?

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Low doc home loans can be ideal for self-employed borrowers that do not have the required up to date paperwork available for a fully verified home loan. Low doc home loans are available to PAYG borrowers from some mortgage lenders also. Normally, the borrower will self certify their income and ability to meet repayments by completing a declaration with your home loan application. Low doc home loans require a minimum 10% deposit or equivalent usable equity in another property with a large range of low doc home loan products available with 20% deposit.