Search found 4 matches

by
Thu May 09, 2019 5:53 pm
Forum: Home Loan Forum
Topic: What docs do I need to provide for a low doc refinance?
Replies: 5
Views: 11902

Re: What docs do I need to provide for a low doc refinance?

What are the interest rates like for low doc loans? I mean I know I’ll be paying a higher interest rate than a standard loan but by how much?
by
Thu May 09, 2019 3:56 pm
Forum: Home Loan Forum
Topic: Studio apartment too small for a mortgage, why?
Replies: 5
Views: 15162

Re: Studio apartment too small for a mortgage, why?

I’m willing to put up an additional $60,000 to bring the LVR to 70% so that’s not an issue. I’m paying off a $20,000 car loan and my 120k HECs debt, I’m concerned that the servicing may be tight without considering my bonus income. I’ve been with the same firm and receive an average 30k approx. as bonus income every year. Are there lenders that will accept my bonus income?
by
Thu May 09, 2019 3:56 pm
Forum: Home Loan Forum
Topic: What docs do I need to provide for a low doc refinance?
Replies: 5
Views: 11902

Re: What docs do I need to provide for a low doc refinance?

That’s exactly what I’m looking for, I have the previous 3 quarters BAS ready and will soon have last quarters’ as well in about three weeks time. I’m hoping to cash out somewhere around $250,000 - $300,000. I know I’m accessing a large amount of equity, is that going to be an issue seeing as I don’t have all the docs?
by
Thu May 09, 2019 2:39 pm
Forum: Home Loan Forum
Topic: What docs do I need to provide for a low doc refinance?
Replies: 5
Views: 11902

What docs do I need to provide for a low doc refinance?

Hi, I’m a licensed electrician working in this line of work for more than a decade, however, I’ve been self-employed only for a year. I earned $90,000 last year. I’ve picked up another contract with a local real estate agent for maintenance of properties on their rent roll. I’m anticipating a significant uplift in business and need some capital to support this growth. I’m hoping to refinance my property for a cash out. My property is valued at $690,000 with a $250,000 mortgage balance. What docs do I need to provide to qualify for a low doc refinance?