Search found 3 matches

by Mustaine
Wed Jul 03, 2019 9:30 pm
Forum: Home Loan Forum
Topic: Declined with Heritage Bank - Are there any lenders that can help a self-employed startup?
Replies: 5
Views: 2577

Re: Declined with Heritage Bank - Are there any lenders that can help a self-employed startup?

Cool. A couple of final questions, why are interest rates higher for self-employed borrowers?
And what’s the best rate I can get as a low doc applicant?
by Mustaine
Wed Jul 03, 2019 6:18 pm
Forum: Home Loan Forum
Topic: Declined with Heritage Bank - Are there any lenders that can help a self-employed startup?
Replies: 5
Views: 2577

Re: Declined with Heritage Bank - Are there any lenders that can help a self-employed startup?

I can provide the last 6 months BTS and BAS but the turnover is much lower than expected of the projected year-end income.
What information will they use to assess my income? I’m trying to determine how much will I be able to borrow?
by Mustaine
Wed Jul 03, 2019 4:58 pm
Forum: Home Loan Forum
Topic: Declined with Heritage Bank - Are there any lenders that can help a self-employed startup?
Replies: 5
Views: 2577

Declined with Heritage Bank - Are there any lenders that can help a self-employed startup?

Hi, I went from a PAYG employee to self-employed recently. It’s a startup. I’m looking to move somewhere closer to our office and have found an ideal house. We approached Heritage for a mortgage but was advised by their LO that they don’t do low docs for self-employed borrowers. Which lenders can co...