no doc home loan

No Doc Home Loans :

No doc home loan

No Doc home loans are available for clients with clean credit and bad credit history. If your business is registered for not less than 12 months we can offer you up to 85% LVR no doc home loans for any worthwhile purpose. Up to 90% no doc home loans available if you wish to provide trading account statements. No doc home loan can be used for purchase of owner occupied property, refinance, debt consolidation, construction or cash out for business or consuming. No doc construction home loan available up to 80% LVR. We offer unlimited amount of cash out depending on degree of credit impairments. cash out amount can be used for working capital, buying equipments for business, pay of tax debts, home renovation, holiday buying car or any legitimate purposes.

The finance group have achieved 99% approval rates for any type of mortgages in past 7 years record because:

  1. We do a complete pre-assesment of the loan application to find best possible options for the client.
  2. We obtain all related veda reports and property reports upfront to safe guard the approval of the loan.
  3. We have access to all popular lenders in mortgage industry including 10 private lenders to assist the client with their loan requirements.
  4. We have created strong relation with our lenders through approval of our loans in past years.


No doc home loans can be a very easy process to obtain if you have clear idea about lending policy and if you are aware what you are eligible for. Shopping for loan can create adverse record on your credit history and restrict you to obtain finance in future. We we strongly recommend to have a professional advice for your no doc loans.

Indicative offers for No Doc Home Loans:

All no doc home loans rates quoted bellow are subject to changed by lender. To find the appropriate quote for your no doc home loans please submit an inquiry to commence a free assessment process. All costs quoted are estimation only.

 Interest rates
 Rates are higher depending on degree of credit impairments.
  • 85% LVR- From 8.26% PA clean credit with ignorable defaults
  • 80% LVR- From 6.99% PA rate load apply for countable credit impairments.
  • 60%-<80% LVR- From 6.94% PA rate load apply for countable credit impairments.
  • <60% LVR- From 5.19% PA Bank loan No LMI No Risk Fee
  • Above Rates are variable rates and subject to change by the lender.
  • 0.25% discount available on interest for first 2 years if client make all payments on time.
 Security Standard Residential properties in any populous areas. Depending on lenders post code guide different lender categories property locations in different way and allocate maximum LVR for the location.
Vacant land is acceptable for eligible borrowers only depending on location of the property.
Construction loan available up to 80% LVR
Please submit an inquiry to know maximum LVR available for your property location.
 ABN
 Minimum of 12 months. For 6 months -11 months ABN, trading statements are mandatory.
 Maximum Loan amount Determined by degree of credit impairment, location of property and proposed LVR.
Maximum Loan per security
  •  85% LVR= $1mil
  • 80% LVR=$1.25 Mil
  • <=75% LVR=$1.5Mil
  • <=60% LVR=$2 mil ( 2 y ABN clean credit required)
 Minimum Loan amount
 $50,000-$100,000 depending on specific lender.
 Credit history
  • 1 day bankruptcy considered with LVR and cash out restrictions.
  • Paid defaults up to $1000 ignored
  • Defaults listed >2 years not counted for rate load
  • Mortgage arrears count if not paid in 30 days.
  • Past 12 months credit inquires need to be explained.
  • All defaults and arrears need to be with acceptable explanation.
Depending on above lender assign impairment level and offer interest rate and maximum loan available.
 Loan Term
 2 years to 30 years
 Repayment options
 Principle and interest payment for O/O property. Interest only up to 5 years available at higher interest rate.
Up to 6 years interest only payment available for investment properties.
 Valuation cost
 Upfront valuation available at clients cost for most of the lenders. Valuation cost starts from $275 and differ depending on location and value of the property.
 Cash Out and Loan Purpose
 Unlimited cash out available up to 80% LVR loan.
Depending on degree of credit impairments cash out amount can be restricted.
Documentary evidence may required for higher amount of cash out.
Purchase, construction, refinance, debt consolidation, pay off defaults or tax debts, consolidate business and consumer debts, business or consuming purpose cash out are generally acceptable purpose of the loan.
Please submit an inquiry to check your eligibility to obtain a no doc home loan.
 Risk Fee
NO LMI APPLICABLE 
  • Risk fee starts from 1% of the loan amount @65% LVR
  • Maximum risk fee is 2% of loan amount @85% LVR or
  • Depending on degree of credit impairments risk fee is 1.25%-1.75% @80% LVR
  • Depending on degree of credit impairments risk fee is 1.25%-1.50% @75% LVR
Subject to lenders assessment.
 Our Brokerage
 Negotiable depending on amount of loan, amount of work and complex nature of loan requirements.
 Other costs
 Other costs are quoted to client at cost by the lender. Legal cost, mortgage registration, documentation fees, title insurance, settlement fees altogether allow up to $3000-$4000 depending on the lender and current government rates.
Most of above we disclose on our credit quote after selecting the lender.
Some of the above are not ascertainable until the settlement agent quote for the costs.
 Proof of Income
 Borrower declare their income on lender provided declaration from.
The accountant also sign lender provided template for accountant declaration.
No other proof of income required if business is registered for minimum of 12 months.
Client can provide recent 6 months BAS's if they don't wish to provide accountant declaration.
 Other supporting documents
Mandatory for all applicants:
  1. 100 point ID is mandatory for all applicants and guarantors for the loan.
  2. Asset and liability for need to be signed by all applicants.
  3. Most up to date council rates need to be provided for all properties.

Refinance:

  1. Most recent 6 months mortgage statements for all mortgages being refinanced.
  2. Most recent statements for other mortgages.
Debt consolidation:
If any other loans are consolidating client need to provide up to 6 months statement for secured or unsecured debts depending on the lender.
Cash out:
Depending on loan amount and percentage of cash out @ different LVR loans lender required acceptable documentary evidence.
Construction:
  1. Fixed construction construction contract.
  2. Council approved Plan and specifications.
  3. Builders Insurance.


Lender may ask for extra documents during the assessment process depending on the strength of the application.
Please submit an inquiry to commence free assessment for your no doc home loans.

More about no doc home loans :

Self-employed applicants who have their ABN registered for minimum of 12months are eligible to get no doc home loans with accountant declared income. If business is registered for less than 12 months client will have to include another form of proof of income like trading account statement to become eligible for this type of no doc home loans. We wont need any BAS's or trading account statements if business is registered for minimum of 12 months. We consider both clean credit and bad credit applicants for no doc home loans. We have premium interest rate offers for clean credit applicants, where bad credit applications considered depending on degree of credit impairment. Degree of credit impairment involve interest rate load. We also accept mortgage arrears with reasonable explanation. We are offering up to 85% LVR low doc home loans only with accountant declared income. If your trading account statements reflects your declared income we can arrange up to 90% LVR loan subject to other eligibility requirements for now doc home loans.

Please submit an inquiry to check your eligibility to obtain a no doc home loans

Our track records for no doc home loans :

The finance group have been helping clients in different states in Australia for past 7 years to obtain no doc home loans. We have numerous clients in Sydney, Melbourne, Brisbane, Adelaide, Perth and all other state and Territories of Australia. We have resolved critical and complex financial needs of our client offering them no doc home loans. Clients are happy with our service because we have access to wide range of lenders for no doc home loans and we give clients all alternative options they have before they make an educated decision to have a no doc home loan.

From our experience we can advice that no home loan is most suitable solution for some clients according to their present financial situation and loan requirements. As we have access to 10 different private lenders for no doc home loans we always make sure clients get the best possible rate with minimum cost for finance. We also take full responsibility to assess and process the application and minimize all risks to get your no doc home loan declined. As a result we have achieved 99% approval rate for all type of mortgages.

Sometimes short term mortgages are suitable solution for some clients other than doing a long term no doc home loan. We also have access to numerous private funds to have short term mortgage solutions when it is necessary to become eligible to obtain a long term no doc home loan.

Whatsoever is your financial situation, whatsoever is your loan requirements we request please submit an inquiry to commence a free assessment process for no doc home loans.