What is the interest rate for your low doc loan?

Which lender and loan type has the best interest rate?

Depending on the type of low doc loan and the amount you borrow, you may be eligible for a significant rate discount.

Whenever possible we will help you find the lender with the lowest interest rate, fees and charges.

Borrowing money with no financials has never been easier for the Self Employed!


The bigger the deposit the better the interest rate

The greater the deposit you provide the lower the interest rate will be.

To be eligible for competitive rates you will need to provide a minimum of a 20% deposit. Some lenders even offer discounted interest rates, which are at full doc rates, if you can provide a 40% deposit or more.


Choosing the right income evidence to get you the best interest rate

You will still need to provide some kind of income evidence. Usually this is in the form of Business Activity Statements (BAS), an Accountant’s declaration or Business Bank Statements.

Most commonly, the borrowers who can provide Business Activity Statements, acceptable to bank’s lending guidelines, will be eligible for the most competitive interest rates.


A clear credit history is essential for a better interest rate

The most competitive low doc interest rates are only available for the borrowers with a clear credit history. Due to the risk involved with the lenders accepting borrowers with bad credit, the lenders that do so will charge a higher interest rate to mitigate this risk.


Where can I find the current interest rates?

You can go to the interest rates page on our website and view the low doc section. We update this regularly with the best offers from our lenders.

Please call us on 1300 889 743 or enquire online for a low doc loan quote.


Things to consider

All information provided is indicative only and is subject to change without notice. Please refer to your loan offer for the full and final details of your loan. Most lenders discounts are based on the amount that you borrow so please enquire online to discuss the interest rate applicable for your low doc loan.

  • Madeleine

    If I want to get a low doc loan of around 90% LVR, what range of interest rate can I expect to be offered?

  • Hi Madeleine, lenders are typically more conservative when it comes to low doc loans and especially when they are over 60% LVR. Not only will you likely have to pay a large LMI premium, you’ll likely be offered an interest rate of more than 7%.

  • Janice

    I won’t be able to provide BAS, accountant’s declaration or business bank statements. Does this mean that I can only go for a no doc loan or is there any alternative way to prove my income?

  • Hey Janice,

    There are alternative income verification methods such as using old tax returns or even future income. You can find out all about this here:
    https://www.homeloanexperts.com.au/low-doc-loans/alternative-income-verification/

  • Miller

    This was a good read. I’m actually considering a low doc investment option so can you tell me something about the cash out restrictions lenders have?

  • Thanks for the comment, Miller. A cash out policy is a lender’s limit to the amount of the loan funds that can be given directly to the borrower, and this is a major reason of why many low doc investment loans are usually declined. Most lenders may want to have control of the cashed out funds to ensure that you use the cash out for the purpose you stated.

  • Earll

    Hi, I don’t see the rates here so can you tell me where I can actually find the current rates?

  • Yeah this is more of an information page so to check out the current low doc interest rates, you can go to the interest rates page on our website and view them under the low doc section:
    https://www.homeloanexperts.com.au/interest-rates/

  • Blose

    Is it possible to get a home loan without a credit check? Like maybe higher rates or something but avoid a credit check?

  • Hi Blose,
    No, all lenders do a credit check on every home loan application. If you’re worried about that because you don’t have a clean credit record, there are other options available. You can read all about these here:
    https://www.homeloanexperts.com.au/bad-credit-home-loans/no-credit-check-home-loans/