"We understand that running your own business is difficult enough without the hassles of applying for a home loan."
If you are self-employed you may be denied a traditional home loan due to lack of paperwork to verify your income. The self employed now have access to 'low document' or 'no document loans' which means no proof of income required and no declaration of assets or liabilities needed either. These products are commonly referred to as 'lo doc loans' and 'no doc loans' which can now attract interest rates equal to those who actually verify their inome.
You can now apply for a lo doc loan:
- Even if you’ve only had an Australian Business Number (ABN) for one day
- Even if you want to borrow up to 90% of the value of the property
- Even if you don’t have five years of clean credit history
- Even without mortgage insurance
What happens if you buy a property and you don't have the 10% upfront in cash required as a deposit? We can organise a deposit bond for you which acts as your cash deposit substitute. This method of payment has to be agreed upon by the vendor and would only take up to 48 hours to organise.
We’ve compiled a guide which will outline 19 ways on how to:
- Provide you with a basic insight into house hunting in Melbourne
- Link home loan features to your needs
- Reduce your mortgage in record time.
- Download the House hunting and finance tips guide
If you're self employed and would like to buy your first home or refinance you can:
- Call us during business hours on (03) 9700 7033.
- Make an appointment or Submit an enquiry,
- Spare no more than ten minutes and fill in our online assessment form. By completing this form it will enable us to better prepare ourselves when presenting your finance options at your future appointment. After you click on submit we will call you to arrange an appointment.