Lo Doc Loan

Lo Doc Loans (low documentation) are loans which require less financial information for finance approval. Generally speaking, they are for self-employed individuals who do not have up to date financials and therefore cannot get finance approval through the regular loan products available. The required information to verify income for Lo Doc loans will generally include BAS statements and/or trading account bank statements.

Lo Doc borrowers can borrower a maximum of between 60% and 85% of the value of their home depending on lender. Lenders Mortgage Insurance (or a “risk fee”) is generally payable when borrowing over 60%.