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Low Doc Refinance

Are you considering Mortgage Refinance but do not have current financials to support your application?

Perhaps you should look into Low Doc Refinance. Low Doc refinance is a mortgage product offered predominantly to self employed people who are unable to provide tax returns to verify their income. The term low doc simple means low documentation.

You should consider Low Doc Refinance if –

• Your taxable income does not represent your actual income
• Your last two years financials are not available
• You require a very large loan and cannot find a lender to help
• You may be an employee under probation or you may receive bonus or commission income that is irregular, which means you cannot use this income to apply for a traditional full doc loan.

Low Doc Refinance Products simply require the applicant to declare their annual income but do not require any formal proof of such income. In some cases a letter from the applicant’s accountant may be required.

With Low Doc Refinance we do not recommend that you refinance to above 80% of the value of your property. The reason for this is that the interest rates offered on Low Doc Loans above 80% LVR are significantly higher than the rates offered on loans at 80% and below.