Speciality finance
Low doc home loans
Finance options for self-employed and small business owners
Are you self-employed or a small business owner looking to buy a property? At Attain, we understand that traditional income documentation isn't always available for everyone. That's why we offer low doc home loan solutions to help you achieve your property goals.
Book a consultationHow to get a low doc home loan
At Attain Loans, we specialise in finding the right low doc loan solution for your situation. Our service is typically at no charge as we're paid by the lender, and these payments don't influence our recommendations.
1
Getting to know you
We're flexible to fit in with you. We can do face-to-face, phone, or video call meetings. We're flexible on times and can do after-hours and weekend meetings by request.
2
Researching your options
We start by understanding your needs and circumstances. We'll discuss your options and help you choose the loan that best suits your situation.
3
Financial assessment
We'll review your financial position, including your business income, expenses, and any existing commitments. This helps us determine your borrowing capacity and what repayments you can comfortably afford.
4
Loan comparison
Based on your circumstances, we'll compare loans from our panel of lenders. We look at interest rates, fees, flexibility for extra repayments, and loan features.
5
Application and approval
Once you've chosen a loan, we handle all the paperwork. We'll help gather the necessary documents and guide you through the approval process.
6
Settlement and ongoing support
After approval, we coordinate with the lender to arrange settlement. We ensure all documentation is correct and help set up your loan repayments. We'll explain your loan features and remain available for ongoing support throughout your loan term.
What is a low doc home loan?
A low doc home loan is perfect for investors or self-employed borrowers looking to refinance, purchase or renovate. It's designed for people who can't provide the full two years of tax returns and financial records that standard home loans usually require.
Who are these loans for?
- Self-employed people
- Small business owners
- Contractors and freelancers
- Investors with tricky financial situations
Low doc loan features
- Variable or fixed interest rates
- Principal and interest or interest-only repayments
- Offset accounts
- Redraw facilities
- Loan terms up to 30 years
How do low doc loans work?
Low doc loans use a self-verification process. You'll sign a declaration about your earnings and where they come from. This means if you're just starting out as a freelancer or tradie, you don't have to come up with loads of income statements.
Pros:
- Easier to qualify for than a traditional home loan
- Great for self-employed people or those with non-traditional income
- More flexible income verification process
Cons:
- Usually come with higher interest rates
- You might need a larger deposit
- Lenders Mortgage Insurance (LMI) might be required for loans over 60% LVR
- Some lenders might restrict which postcodes you can buy in
Questions about Low Doc Home Loans
Get in touch, and we will help you with any questions you have about low doc home loans and advise on the best strategy to suit your situation.
Let us help with your questionsWhat deposit do I need for a low doc home loan?
Most lenders require a minimum deposit of 20% for low doc loans. Some may consider lower deposits, but this often results in higher interest rates or the need for Lenders Mortgage Insurance (LMI).
Can I get a low doc loan if I've been self-employed for less than two years?
While many lenders prefer at least two years of self-employment history, some lenders on our panel may consider applications from borrowers who have been self-employed for as little as 6 months, especially if you have previous experience in the same industry.
Are interest rates higher for low doc loans?
Low doc loans often come with higher interest rates than standard loans due to the perceived higher risk. However, rates can vary significantly between lenders. We'll help you compare options to find the most competitive rate for your situation.
Can I refinance from a low doc loan to a full doc loan later?
It's possible to refinance from a low doc loan to a full doc loan once you can provide the required income documentation. This could potentially result in better interest rates and loan terms.
Are there any restrictions on the type of property I can buy with a low doc loan?
Some lenders may have restrictions on property types or locations for low doc loans. We'll help you understand any limitations and find a lender that suits your property goals.
What is the maximum Loan-to-Value Ratio (LVR) for a low doc home loan?
The maximum LVR for low doc loans typically ranges from 60% to 80%, depending on the lender and the strength of your application. Some lenders may offer higher LVRs, but this usually comes with the requirement to pay Lenders Mortgage Insurance (LMI). We can help you find lenders offering the highest LVR suitable for your situation.
Can I use a low doc loan for investment properties?
Many lenders offer low doc loans for investment properties. However, the criteria may be stricter, and interest rates might be slightly higher compared to owner-occupied low doc loans. We can help you explore options for investment property loans that suit your portfolio goals.
How does my credit score affect my low doc loan application?
Your credit score plays a crucial role in low doc loan applications. A good credit score can improve your chances of approval and may help you secure better interest rates. Some lenders may have minimum credit score requirements for low doc loans. If you're concerned about your credit score, we can advise on steps to improve it before applying.
Can I access government grants or schemes with a low doc loan?
Eligibility for government grants and schemes, such as the First Home Owner Grant, depends on various factors and may vary by state. While having a low doc loan doesn't automatically disqualify you, some schemes may have specific income verification requirements. We can help you understand which grants or schemes you might be eligible for with a low doc loan.
How often will I need to provide updated financial information for my low doc loan?
Most lenders require annual reviews of your financial situation for low doc loans. This usually involves providing updated financial statements or BAS. Some lenders may require more frequent reviews, especially in the first year or two of the loan. We can help you understand the ongoing requirements for your specific loan and assist with the review process.
Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product. The information contained in this website is of a general nature and does not take in to account your personal needs and requirements.
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Why choose Attain for your low doc home loan?
At Attain, we specialise in low doc lending and understand the unique challenges faced by self-employed borrowers. We have access to a wide range of lenders and can help you navigate the complexities of low doc loans to find the best solution for your needs.
We're family
We are a small family owned, Altona based business that understands your needs at different stages of your life.
We listen
Identifying your goals and finding services and products that meet your needs is our number one job, and we love it!
22 years industry experience
We know the intricacies of the mortgage market and can tailor mortgage solutions for your individual needs.
We have access to the very best lenders
Over 70 of them, including the majors. We're accredited, which means we are fully trained and know all the best options available for you.
Ongoing support
Even when we've found you a great deal we undertake regular reviews to see if we can find you something even better.
We're awesome!
We have an honest, client focused business model and we aim to create long lasting relationships built on trust and respect.
Our happy customers
Financial security gives you choices. It lets you move home, learn new things, travel, or start and grow a business. When you're financially secure, you can focus on what's important. Your family, health, and personal growth.
Ian Martin
We were introduced to Chrystal and Attain Loans by a mutual colleague and we are very pleased that we were. Chrystal is an absolute finance whizz and a diamond of a lady. She is thorough, professional, patient, 'on your side', and will work her hardest to get the job done for you.We are pleased to have met Chrystal and have her setup our home loan and finances for us, and we will continue to work with Chrystal for any of our finance needs in the future.
Nichie S
Chrystal Evans, Director & Mortgage Broker at Attain was truly a lifesaver. In a stressful time where I needed assistance and some advice, Chrystal was this and more for me. Her knowledge of the banks, packages, fees etc. and advice was excellent, giving me confidence while also making everything really easy. Lastly her follow-up and communications were solid, I would highly recommend Chrystal. Also, after trying to negotiate an interest rate after coming off a fixed rate with my bank, where I was told they couldn't help me and spoke with 3 different people with wait times on the phone, I will not deal with a big bank again and only with Chrystal/Attain.
Cindy Kelly
Chrystal and Attain Loans were instrumental in assisting us to secure our dream home. Chrystal’s professionalism, knowledge and high level skills secured us the best loan for our needs. Chrystal is very thorough and assisted us through the whole process, from finding the best loan to ensuring everything was in line and ready for settlement day. We will definitely utilise Chrystal’s expertise for our next property purchase and highly recommend Chrystal and Attain Loans.
Nikola M.
Chrystal is by far the best broker I’ve met. Not only she found a great rate and conditions, she advised me on how to restructure the loans to get a better return down the road.Definitely recommend her, won’t even think of going elsewhere.
Callan Applebee
The best! Highly recommend for those lookong for people that care and honesty in financial requests for mortgae and loan services.From someone who has just begun owning land and building a home, all I can say is that Chrystal and her amazing team have held customers like myself and my wife at the forefront. We are still in the process and this company and its ideals and staff are and continue to be amazing. The trust, confidence and support model they uphold is something that all other institutions should refer to. Thank you Chrystal and your team members for everything thus far. I look forward to our continued relationship and your growth. Thank you.
will miller
Chrystal and her team are amazing to deal with extremely helpful and couldn't ask for better service. Chrystal and her team have helped us secure our first home and we have now settled. Chrystal is still working with us through every stage of the project. It's great to know that I had Chrystal on hand anytime I needed direction and advice. Thanks heaps guys from will and Zoe miller
Renee Blake
Chrystal and her team @ Attain Loans are amazing.Chrystal makes the whole process so easy and understandable.She always has her clients needs at the forefront of her mind and does everything possible to help.Not only is she an AMAZING broker with integrity, she is reliable with a client first focus.If I could score her 100 I would. The only broker for me.
Suzanne McHugh
Chrystal was fantastic, she took the time to help us urgently obtain finance after not getting any help directly from the banks. She was very informative, was able to explain all the details. We would not have been able to have a successful bid without her help.
Luke Applebee
Thanks to the incredibly hard-working team at Attain (Chrystal and Pam) we were able to settle literally days before Christmas last year in our first home.At every step of the home buying journey we were well informed and felt like our interests were always the top priority. It was a stressful time for us to keep up with the paperwork and everything however Attain did a superb job at keeping us on track (and sane). If you have no idea where to begin if you're looking at purchasing a home, I highly recommend giving Attain a call.Excellent customer service and ongoing support. We have recommended Attain to family and friends, too. Absolutely impressive team. Can't thank them enough.
Jessica Winter
Chrystal, Pam and the team at Attain loan & morgage services are the best brokers in business. They literally held our hands throughout the whole process of our home loan. And we were not easy customers! They went above and beyond to help us get the best outcome in the process of attaining our first family home. Their attitude, customer service and professionalism was second to none. Couldn't recommend this company more!They literally did all the HARD work for us and made the process stress free :) Thanks Team!!Jessica Winter
Vanessa Terekia
I have had the pleasure of working with Chrystal who helped to get my home loan approval. This women went out of her way to help me above and beyond my expectations, I was so ready to give up on a few occasions but she wasn't going to let me and I could not thank her enough for all of her efforts. I am now in my own home thanks to Chrystal and her team, I would always recommend her service, its like no other :).
Americar Auto
I've been using Attain Loans for years. Each time Chrystal has helped us get the loan through, being a small business can be tricky sometimes but Chrystal never gives up and always gets a result. I would give her a higher score if I could :)
Rebecca Smith
Excellent communication throughout entire process. Second time we have obtained finance through Chrystal and would use her again.
Jessica Joy
I cannot recommend Attain Loan & Mortgage Services enough. As a first home buyer I was nervous with very limited knowledge of how the entire loan process worked. Chrystal made it absolutely seamless and took all of the stress out for me.12 months on, they assisted me with my first re-finance and again were there for me every step of the way.I couldn't be happier and wouldn't trust anyone else!Thankyou so much!
Gary Capeling
My wife and I were in a vendor finance agreement and due to some financial hardship issues brought about by the Covid pandemic not looking like we would ever be able to get ahead. The team at Attain Loans helped steer us in the right direction to be able to finally have a mortgage of our own and also clear up our debts and hopefully repair our credit issues. I would definitely recommend them to anyone looking to just refinance or that is in a similar boat to us!10 out of 10 for these guys!
Lisa L
I recently bought a new house and usually the process can be quite stressful. Luke made everything run smooth from start to finish and got me a good rate! Highly recommend
Peter Sz
Chrystal and the team from Attain Loan & Mortgage Services, 14 Harrington Square, Altona, VIC, 3018, Were a pleasure to deal with, they provided us with great service and prompt settlement, our circumstances were delicate and they worked though the steps to help us achieve the results desired, We would highly recommend Attain Loan & Mortgage Services for all your home loan needs, Thanks for all your help Peter
Skruffy Inc
If it's a no fuss, simple process you're after - then Chrystal is your go to! As a first home buyer I was totally out of my league, everything was foreign. Chrystal quickly established a rapport and from the beginning I felt secure in her expertise and genuine interest to help me realise my goals. Whenever there were things that I wasn't quite sure about, Chrystal jumped in and took the reins without hesitation. When investing in one of the biggest purchases in your lifetime, having someone you trust at the helm is everything! Chrystal is that someone. Her easy going nature coupled with the depth of knowledge, experience and professionalism is second to none! I can't recommend her highly enough. Appreciate your support solution oriented outlook Chrystal. Thank you so much!Whakamānawatia koe, ka tika!Nāku noaTrishBrisbane, QLD
Ray Jensen
Got the job done that no one else could!!!!! Very happy customer, thanks for all your all help……