Low doc home loans and more
Discover your self employed loan options
If you run your own business it can sometimes be difficult to prove to lenders that you have the necessary income to service a home loan. That’s why banks and other lending institutions will try and steer you towards the low doc home loans option. However, while this type of loan may be suited to you, there may be other home loan options available. ITP have been helping freelancers and small business owners for many years and can help you find the home loan deal for your freelancing situation.
What are low doc home loans?
Sometimes wrongly called ‘no doc home loans’, or ‘lo doc home loans’, this type of home loan is designed for self employed people who don’t have such cut and dried (i.e. regular PAYE payslips) documentation of their income as do regular wage earners. Instead you’ll have to supply income tax and financial statements, expenses etc. for the past two years. It may be easier to get a low doc home loan, but the downside is that your repayments may be greater.
Let ITP bat for you
At ITP we’ve been looking after small business owners taxation and accounting needs for decades, so we really understand your situation and financial needs. And it’s not just that we’re experienced in the necessary documentation and application forms. We can also advise you on more complex mortgage related matters. How to strike a balance between your income and borrowing capacity, just for starters.
All our services are, of course, at no additional cost to you. So get in touch with ITP Home Loans for the mortgage type and rate that’s suited to you. You can email us, or make an appointment to see an advisor face to face. Alternatively, give our helpful ITP Home Loans consultants a call today on 1300 387 487.