Self-employed customers can access Low Doc loans. If you have an ABN and run a successful business, you qualify. We will help you find the best loan for your situation.

Self-employed individuals can access better interest rates and increased borrowing limits through a full-document loan, provided they have thorough financial documentation, usually including at least two years of tax returns and financial statements. If you lack the usual paperwork, a low-document loan might be a suitable alternative. Additionally, for those who don’t have much in savings, a guarantor home loan can assist in getting approval.

Typically, it’s for a minimum of 24 months. However, with Credific Finance, we have lenders that might exempt the criteria. It’s worth having a conversation about it.

Refinancing a home loan can be advantageous for self-employed people. It may lead to lower interest rates, better loan conditions, debt consolidation, and access to home equity. To make the refinancing process easier, prepare detailed financial documents, including at least two years of tax returns, business financial statements, and BAS statements.

Financial institutions, including both banks and non-bank lenders, often exhibit caution when assessing applicants whose income has fluctuated significantly over the past two years. Some lenders may opt to utilize the lowest income figure recorded during this period, while others might take into account the most recent year’s income, calculate an average of both years, or apply 120% of the lowest income year. Additionally, depending on the lender’s policies, certain expenses listed on tax returns may be added back to the applicant’s income.

In certain situations, lenders may accept alternative methods for income verification, such as providing six months’ worth of payslips along with a letter from an accountant, rather than requiring complete tax returns and financial statements.