Low Doc
Our Low Doc or Low Documentation Home Loans are a financing solution for self-employed and small business owners who have income and assets but may not have the traditional forms of income evidence, such as financial statements or tax returns at the time of the application.
These types of loans can be used for Owner Occupied or Investment purchases.
If you confirm that the financial information you supply to us is correct and that you can service the loan, we don't need proof of income as well.
Those who are eligible must:
- Have been self-employed, or have been full-time investors, for at least the past 2 years and be registered for GST
- Sign a declaration detailing level of income and provide 12 months BAS statements
Co-borrower/s may be PAYG provided they:
- are mortgagors: and
- supply income verification documents.
Features:
|
Loan Term |
Up to 30 years |
|
Loan Amount |
Up to $1,000,000 |
|
Max Loan to Value ratio |
80% |
|
Frequency of Payments |
Weekly, Fortnightly or Monthly |
|
Repayment Options |
Interest Only Option 1-10 yrs |
|
Other Features |
|
|
Interest rate |
7.60%pa** (comparison rate 7.65%pa) |
*Conditions and lending terms apply, and are available upon request. Rate effective 07.05.2010
**WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
All terms and conditions indicated by Great Southern LoanS Pty Ltd are subject to change. Actual terms and conditions of all loans will be set out in the loan contracts.