What is a low doc loan?

A low documentation or low doc loan is a mortgage often used by self-employed borrowers who may find it difficult to provide conventional proof of income such as payslips or tax returns.

Who can take out a low doc loan?

Low doc loans are available to self-employed customers who have an ABN and are operating a viable business.


How long do I need to be self-employed for?

If you have an ABN it needs to be generally at least 24 months old.

How much can I borrow?

You could borrow up to 80% of the value of the residential security (your house or investment property) on our low doc options and up to 95% on our full doc products.

How much deposit will I need?

Borrowing against residential security you could be required to provide a 20% deposit however there are options available to low doc home loan borrowers seeking a deposit of less than 20 per cent.

What income verification do I need to provide?

With a low doc loan you need to state your income, provide income evidence in the form of a BAS, business account statements or an accountant’s declaration.

For full doc loans you’ll need to provide further proof of income such as tax returns from the last two financial years.

Do I need clear credit history?

Our loans are available to people who may have a less-than-impressive credit history, and if you do have some credit issues you can still apply for a low doc home loan (however we will need to review the reasons why).


What is a risk fee?

Some lenders will charge you a risk fee and ask you to take out lenders mortgage insurance, which all add to the cost of your loan. Rate Money provides finance for easy low doc loans with no risk fees and no lenders mortgage insurance, all with competitive interest rates.

Can I refinance my current home loan?

Depending on your circumstances we may be able to refinance an existing home loan or existing investment loan with a low doc loan. Just ask us and we’ll find out if you’re eligible.

Can I use funds payout my tax debt?

Yes through both our Think Money and Hot Money options.

What are the interest rates?

Rate Money provides competitive interest rates. Please contact us to find out more.

What are the fees and charges?

Whenever possible we will help you find the best loan with the lowest interest rate, fees and charges. All our loans have no risk fees and no lenders mortgage insurance.