All Topics / The Treasure Chest / No/Low DOC loans

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  • Profile photo of picja1picja1
    Member
    @picja1
    Join Date: 2003
    Post Count: 144
    September 27, 2003 - 11:40 pm

    Not only that Mortgage Hunter there are loans for people about to start business. They only have to be applying for an ABN. Obviously interest rate higher than norm.
    Also there are other lenders who will look at you with 12 months trading (Liberty)

    In regards to lying, well don’t. On a lo doc loan you only need to stat your income, if this income is enough to service the loan, it’s fine. If not you’ll have to go a No Doc loan (if your investing), it means a lower LVR (65%)where they do not ask for any form of income.

    Also, you could be suprised of your servicability, you may well service the loan, especially with the rental from properties you are purchasing.

    [email protected]

    Profile photo of diclemdiclem
    Member
    @diclem
    Join Date: 2003
    Post Count: 537
    September 27, 2003 - 11:46 pm

    Thanks Bill, Simon and Picja,

    You guys are a wealth of knowledge and we appreciate your input,

    Cheers,
    Keep smiling,

    Sue [:)]

    Be careful not step on the flowers when you’re looking at the stars

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