HOMELOANS MONIPOWER LOW DOC LAND OR CONSTRUCTION

View product matrix below then click on apply if you wish to qualify for this loan and receive a detailed assessment and full cost proposal.

homeloans-ltd-logo
Homeloans Low Doc Loans for Residential Properties
It is now a requirement by law to provide some evidence for serviceability, This is largely fuelled by the NCCP responsible lending requirements which has seen the most marked change to the low doc environment. There are a range of different types of evidence that can be provided to justify income stated, including accountants‚ declarations, business activity statements, tax returns and bank statements can all be suitable.

The main documents that this funder will accept that can be used to verify your income are:

  • An Accountants Letter verifying your income.
Loan purpose Residential or Investment purpose for both Purchase or Construction
Loan term 1 > 30 years.
Interest type Variable rate.
Repayment type Principal & interest, or interest-only up to 10 years then principal & interest on investment properties only.
Repayment options Monthly, fortnightly or weekly.
Repayment method Direct debit only.
Maximum Loan to 70% LVR on both Vacant Land or Construction.
Acceptable Applicants Individuals, Companies and Trusts
Minimum loan size $100,000
Maximum loan size $1,500,000
*Post code restrictions apply
Credit history Must have clean credit.
Requirements for Construction Council Approved Plans.
Fixed price quote from Licensed Builder.
Security Type House, Vacant Land, townhouse or unit within acceptable locations with zoning of either Residential or Rural Residential up to 25 acres.
APPLY FOR THIS LOAN

*Terms and conditions apply – Please check all rates and terms before applying.
Low Doc loans are designed for the self-employed or small company borrower/s whose financial statements may not be available. Reasons for this may encompass: Their accountant hasn’t completed and lodged their financials.