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Low Doc Interest Rates

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%.