Low Documentation (Low Doc) Home Loans are intended for independently employed clients and small entrepreneurs who might not have access to the financial statements and government forms. These documents are generally required when applying for a loan.
Our loaning experts will help you pick a loan with a Low Doc alternative.
Pros and cons of the Low Doc Loan:Some of the advantages of low doc loans are:
- Simple income declaration form
- No tax return or financial records required
- Principal & Interest or Interest –only Loans
- Basically a higher interest rate