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What is a low doc home loan?
Low Doc Home loans are for applicants that for one reason or another do not want to prove thier income. Because of the nature of these loans, the bank does have stricter lending criteras.
In the past, these loans have been used to provide home finance to applicants that otherwise may not have qualified for a low doc home loan from an Australian bank.
Is there a bad credit Low Doc Home Loans?
Yes, specialist banks want your business. These banks use the equity you have in your property to offset their risk. These home loans are usually restricted to an 80% LVR (loan to value ratio)
However, several banks do raise the LVR to ninety percent.
Some frequently asked low doc home loans questions answered
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How much can I borrow?
You can use one of our handy loan calculators or get a quick quote online for an estimate. This is free of charge.
What is a comparison rate?
A comparison rate is the interest rate of a home loan plus some costs associated with the loan expressed as an interest rate. These rates are here to help you and are regulated by the Consumer Credit Code.
What’s the difference between fixed and variable rates?
A fixed rate is an interest rate that stays the same for an agreed period. Variable rates are subject to moves in the official cash rate and housing market.