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by Hutchy75
Wed Mar 31, 2010 3:57 pm
Forum: Home Loan Forum
Topic: Self Employed Help
Replies: 1
Views: 6289

Self Employed Help

Hi Otto

Can you please advise if there are any low doc loans or lenders that suit our situation

Applicant 1 Self employed with ABN for 2 year 3 months GST registered for 1 week (just done that business has been really busy)

approx income $85,000 for this year and growing (first few years were low due to set up costs)

applicant 2 wages $20,000 pa

3 dependents

assets of approx $190,000

car loan payments $655 month
currently renting at cost of $1650 month

credit cards $17,000 total cards limit (working hard to get rid of these)

parents are prepared to give us a gift of $115,000 to help fund purchase

looking at purchasing a house includinig stamp duty fees etc for $420,000

Is there any hope we can get a loan?
thank you