Low Doc Loans Sunshine Coast
Low Doc Loans Sunshine Coast. A Low Doc Loan, Lo Doc Loan or Low Documentation Loan is tailored mainly at self employed borrowers who require a flexible lending solution. A Low Doc loan is ideal for someone who has the income and assets but cannot provide financial statements or tax returns as proof of income. If you live in the Sunshine Coast then we can help you with a Low Doc Loans Sunshine Coast. Our Low Doc specialist’s have high experienced in this area of finance.
There are three main ways to verify self employed income today. We have many different speciality Low Doc lenders on our panel. We depending on which lender we use, will depend on what income evidence that they will require.
These lenders will require either one or two of the below –
- Provide BAS statements
- Each lender has a set formulae which they use to calculate the income of the business using the figures from the BAS statements. This could be as simple as Sales minus expenses plus owners wages. Some lenders will look at the industry the business operates in and decide on an income which is just a percentage of sales. Providing BAS statements (usually 2 statements) is a great way to verify income in order to qualify for a Low Doc Loan.
- Provide three months Business Banking Statements
- This method is slightly more involved and depending on which lender we decide to use will depend on the scrutiny they will show when calculating income from the business banking statements. If your business is truly profitable, then verifying income from business banking statements is a great way to verify your income for a Low Doc Loan. We even have a Business start up option where you canb qualify for a loan with just three months of trading in a brand new business.
- Provide an Accountants Letter
- This is as simple as your accountant confirming your income on a template provided by the lender.
You have the need for a Low Doc Loan? Then please get in touch with our Low Doc Loan specialist in the Sunshine Coast. We have many options that we can use to help you obtain finance. And we also have a number of private lenders on his lending panel who may not need any of the above.
Premium Mortgage Brokers is available to visit you at home or work, 7 days and nights per week, or the complete process can be easily handled using email and /or phone just as easily. Our service is 100% free to you the client as the lenders pay our fees.