Low doc home loans Melbourne

Low doc home loans are options for self-employed borrowers who do not have minimum of 2 years full financial to support their income. Low doc home loans give self-employed applicants to acquire a home loan with minimum documentation even only with an accountant letter. If you are small or medium business owner have your business registered for minimum of 6 months we can arrange finance for you. We are offering up to 90% LVR low doc home loans. We do your low doc home loans assessment for Free . Mortgage arrears, Bad credit, Bankruptcy, No Doc ( accountant letter only), construction, debt consolidation, business purpose cash out, unlimited cash out, all circumstances are assessed case by case basis.

We have 34 popular lender on our panel and more than 10 private lenders to find the best loan offer for you. We do low doc home loans free assessment for Sydney, Melbourne, Brisbane, Adelaide, Perth clients and also clients from all over Australia.

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Senior Mortgage Advisor, Jason Baker 0407 900 113

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Low Doc Home Loans products with LMI

  • For low doc home loans with LMI, loan amount exceeding 60% of property value will require lender mortgage insurance where the borrower will have to meet LMI insurer's requirements.
  • Borrower cannot meet LMI criterion but need more than 60% of loan will have to select non LMI products or 70% LVR No LMI product.
  • Low doc Home loans is restricted to 80% LVR for LMI products where Non LMI products offer more than 80% LVR case by case basis.
  • We are offering Clean credit and Bad credit low doc Home loans.
  • Low doc home loans with NO BAS, No Bank statements, Self-employed with 6 month ABN, 12 Months ABN as well as 2 years ABN.

Typical Requirements by LMI (Low Doc Home Loans)

For LMI purposes, an individual is considered Self-Employed when they receive the majority (i.e. more than 50%) of their total income from a business in which they are the sole trader, a partner, director or shareholder


& Income

Australian resident only. ABN Minimum of 2 years & GST 1 year . ( Insurer 1)

ABN Minimum of 2 years & if GST not registered maximum income is $75k( Insurer 2)

Govt benefit 100% when oldest child is 12 years old.

Pension income acceptable when permanent in nature.

Investment income 80% if for 2 years showing on tax returns.

Rental Income 80%, high density area 50% will account

Genuine Saving

20% Genuine Saving required for purchase, for 3 months (insurer 1)

20% Genuine Saving required for purchase, for 6 months (insurer 2)

Purpose and LVR

Purchase, Refinance and construction maximum 80%.

No debt consolidation or cash out allowed ( Insurer 1)

No debt consolidation, cash out allowed Maximum $100K( Insurer 2)

LOC- 80% LVR for P&I repayment for 25 y term, 70% LVR for interest capitalised, vacant land is not acceptable security for LOC. (insurer 2)

Bridging loan 80% for 6 month or 12 months for construction (insurer 2)

Conditions apply for post code location, off the plan purchase, security type like life style and rural block, service apartment (70%), High density security (80%),

Maximum Exposure

Depend on type of borrower, post code location, type of and number of property and LVR restricted to $250k to $1 mil for single security and $2.5 Mil for Multiple securities. ( insurer 1 & 2)


12 Month BAS's , 6 month personal account statements with self-declaration of income. ( Insurer 1)

Accountant Declaration letter for income. ( Insurer 2)

6 month home loan statement for refinance.

Documents assessed and recorded by lender and submitted with reasonable case if outside the LMI policy.


LVR Limit as per Category 1-Category 4 post codes in different states

10 Hectares for Rural residential. 40 /Hectares for Rural. Vacant land 2.2 Hectares.

High density City area= 40sqm floor @ 80% LVR ( insurer 1)

Maximum 50 Hectares for vacant land or intention to build.

50sqm floor (including balconies and car space) @80% LVR ( insurer 2)

Contact your Mortgage broker for assistance about these issues.

Low Doc Home loans Products


3 y Fixed rate

Variable rate

Maximum Discount on Package

Lowest rate


Annual fee & Application Fee

Typical requirements









Low Doc To Low Doc refinance available.1 year ABN & GST, 1 year BAS, 6month statements. Offset available on fixed rate.





5.69 no fee Variable



1 year ABN & GST, 1 year BAS, 6month statements. Offset available on fixed rate.









2 year ABN 1 year GST.12 month BAS, LOC available. Low DOC to LOW DOC refinance available.






6.91 with LMI



Low Doc to Low Doc refinance allowed, NO LMI, 2 year ABN, No BAS, no bank statements, No construction, No Land, No Cash out, Purchase refinance consolidation.





6.30 no offset



1 year ABN & GST (70%LVR), 2 years ABN & GST >70% LVR, 12 month BAS & 6 months bank statements, 75% LOC available, Cash-out (lesser of 10% of loan amount or $50k), No gifted equity, no construction, no debt consolidation, no rural security.





0.7 (ver)

0.2 (fixed)





Discount on LOC, 2 year ABN 12 month BAS.

Contact your Mortgage broker for assistance about selecting suitable Low Doc home loan product for you.

Cost and Features

In addition to application cost for low doc home loans some lender charge

  • Valuation = up to $500 (where most of the time it is free for first valuation).
  • Establishment/Settlement= $250-$300,
  • Discharge= Vary from $250-$350
  • Split Account= $200-$300

Different bank compose there for low doc home loans products in different way for almost similar type of facilities like Line of credit, Top up limit, Offset account, extra repayment and withdrawal, 4-6 split accounts, rate lock up to 90 days, portability, switching products.

Contact your Mortgage broker for assistance about these for low doc home loans products issues.

Credit and Documentation ( Low doc home loans)

For low doc home loans Big 4 banks are basically fussy about number of credit inquiries and type of inquiries on the credit file, where some of the 2nd tire lender do not account credit score for home loan. Defaults tolerance is define by LMI insurer where loan without LMI can accept up to $1000 paid default case by case basis.

LMI insurer 2 accept low doc application only supported by accountant letter (No BAS, no trading statements), but most of the lenders requirement is to provide 6-12 moth BAS's. Some lender will also need 6 months trading statements with BAS. The business must have to register for at least 2 years for most of the Low Doc products. The documentation requirements are flexible when LVR is as low as <=60%.

A very few lender accept 3 months Mortgage statements when they refinance home loan, where minimum requirements by the LMI insurer is 6 months clean where 1 miss payment that's been paid immediately could be considered with reasonable explanations. For low doc home loans few lender will offer low doc to low doc refinance.

For low doc home loans debt consolidation might not available by some lenders. When consolidate debts, for personal loans 6 months clean statements required by insurer , If the loan are not being refinanced then statements is not required by some lenders.

For credit cards some lenders need 1 last statement to refinance or maximum 3-6 months. No credit card statement required when the application is for purchase or when credit card not being refinanced, depending on the lender.

Contact your Mortgage broker for assistance about these issues, to confirm which lender will approve your low doc home loans.

Purpose ( Low doc home loans)

For low doc home loans, loan with LMI has restriction in cash out. For consumers loan regulated by NCCP cannot allow borrower to get equity release for any business use. Equity release limited to consuming purposes and personal investment purposes. For purchase some lenders will allow you to borrow without deposit using the equity of relative's asset if they become guarantor for the loan. All other loan purposes differ a little bit from LMI policy described above depending on lenders discretion.

Contact your Mortgage broker for assistance about these issues for low doc home loans.

Serviceability ( Low doc home loans)

For low doc home loans allowable living cost differs significantly according to the lender. Different Assessment Rates are used for different products and LMI insurers. In general it add 1.5% extra rate load on top of current variable rate for assessment.Some lenders also use buffer on top of living expense where borrowing capacity change depending on lenders serviceability requirements. For some strong application lender approve higher amount than the maximum borrowing capacity.

Low doc declared income must have to comply with past 12 months BAS's or recent 6 months trading account statements. In practical most of the lender will accept maximum 40% of turn over showing on BAS's as your acceptable declared income ( case by case basis vary some time depending on the type of business or the industry). Some lenders accepts maximum 50%. Basically the percentage is depending on type of industry. As an example we can say some service base business like Accountant, solicitor, financial services usually have lower amount of expense to operate the business where lender can accept up to 65%-75% of the turn over as acceptable income depending on size and age of business. On the other hand a retail base or manufacturing business with higher amount of yearly expense should have maximum 35%-40% of their turn over as gross profit for the business.

Contact your Mortgage broker for assistance about these issues for low doc home loans.

Following is a table for living cost used by one of the Mortgage insurer.

Single Adult (no spouse/partner)


Couple (or single with partner)


Each Additional Adult


Each Additional Couple


Each Dependant Child


Boarding or living with parents per adults per month rent


Non LMI Non Conforming Bad Credit Low Doc Home Loans Product

It is familiar as Bad Credit Low doc home loans gives you flexibility about default, payment arrears, bankruptcy, No BAS, Loan only against accountant letter up to 90% LVR loan, Low doc to Low Doc refinance, flexible cash out policy.

Low doc non conforming bad credit home loan Products:


Interest rate

Risk Fee

Critical issue for impairment, purpose and documents








12 month ABN, GST if income more than $75k a year, Accountant letter only. Evidence required for cash out more than $100k, Business purpose allowed. Discharge bankruptcy 2 years minimum.








2 years ABN must, <70% LVR 3 month bank statement only, >70% LVR 6 months BAS plus 3 months bank statements. Credit impairment acceptance is higher @ low LVR loan. Once bankrupt is acceptable.








6 month ABN no bas no LMI. Refinance with cash out involve extra rate load up to 70% LVR. Paid unpaid default accepted, bankrupt discharged minimum 6 months, no arrears in mortgage.












9.79 (lev-1)


6 month ABN, no BAS no LMI 3 moths business transaction and 1 month personal account. Accountant letter. Bankruptcy discharged minimum 12 months. Paid unpaid defaults mortgage arrears allowed.

Level of impairment might load extra rate on top of maximum rates or risk fee disclosed. Nil risk fees lending available for eligible borrowers only.

Contact your Mortgage broker for assistance about selecting suitable product for low doc non conforming Bad credit home loan.

Cost and Features (Bad Credit Low doc home loans)

For low doc non conforming bad credit home loans, basically depending on LVR, level of credit impairments and location of security property different lender assign different percentage of risk fee for nonconforming loan. This is case by case basis and negotiable depending on strength of application.

Valuation cost differs depending on state and location of the property from $275-$770 usually paid up front with acceptance of indicative approval. All other cost usually capitalised with the loan amount not exceeding LVR limit.

  • Application fee/ Establishment: $1000- 1.5% of the loan amount.
  • Legal/solicitor: $300- $1400
  • Title insurance: As per scale
  • Mortgage registration, title search, admin, documentation: usually included with the settlement cost some time charged separately up to $900
  • Discharge: Existing mortgage discharge cost up to $650+

These costs are estimation only. Contact your Mortgage broker for assistance about these issues for low doc non conforming bad credit home loans.

Credit and documentation (Bad Credit Low doc home loans)

For Bad Credit Low doc home loans, basically level of impairment determined by lender. Late payment fee for 5 days ignored, paid default more than 2 years old might ignored if the amount is limited. Unpaid defaults can be paid from $25,000 to unlimited where extra rate load will apply. Paid Utility defaults up to $1000 ignored. Nonconforming lending allows you to pay off your debt agreement and unlimited defaults.Documentation is as usual to disclose level of credit impairments. Client will have to provide written explanations for any type and level of impairments.

For Bad Credit Low doc home loans level of impairment and location of the property basically restrict the maximum LVR of the loan as well as increase the risk and the risk fee. We also have some products to avoid the risk fee available for eligible borrowers.

For Low Doc declaration it is acceptable by some lender if the business is registered minimum for 6 months. Business registered for 1-2 years can get facility to get loan only against accountant letter. Lender will request 6-12 months BAS's supported by 3-6 months trading account and personal account statements.

Contact your Mortgage broker for assistance about these issues for Bad Credit Low doc home loans.

Purpose (Bad Credit Low doc home loans)

For Bad Credit Low doc home loans purchase with non genuine savings, refinance with unlimited cash out, consolidate debts are in arrears of defaulted, paying of your tax liability all purpose can be fulfilled case by case basis. Non conforming lenders also allow you to get cash out for business purpose where maximum portion of the total loan amount remain for consuming use or non business use other than investment in property.

Contact your Mortgage broker for assistance about these issues for Bad Credit Low doc home loans.

Serviceability (Bad Credit Low doc home loans)

For Bad Credit Low doc home loans most of this lenders load 2% extra rate on top of actual rate for assessment. Allowable living expense also differs a lot depending on lender. Declared income assessed by the lender considering industry, type of business, size and age of the business conjunction with business plan and loan proposal submitted to the lender.

Contact your Mortgage broker for assistance about your loan proposal and acceptable business plan for Bad Credit Low doc home loans.

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