Home Loans - Self Employed Home Loans
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Self Employed Home Loans

Applicants who are self employed in most cases need to provide 2 years of tax returns in order to qualify for a home loan. Many self employed applicants have no problem in doing so.

 However a segment of the self employed population may not have up to date tax returns due to existing business commitments. Such borrowers could qualify for a low documentation (low doc) home loan.

Low doc loans allow the applicants to provide limited financial documentation (perhaps BAS statements only or print-outs from their trading accounts) in applying for a home loan.

Generally these loans are a little more expensive than the full documentation loans and require a greater deposit. Therefore if you are self employed and would like to purchase a property with a relatively small deposit, low doc is not for you. You would need to take the time and complete your tax returns to ensure that you obtain better loan terms.