LOW DOC RURAL RESIDENTIAL LOAN

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.

latrobe
Low Doc Loans for Rural Residential Properties (must have a house – no Vacant Land)
If you are self employed and you do not have up to date company or personal tax returns then a low doc  loan may be the right solution for your lending needs if you are purchasing a residential property.

  • Low Doc Rural Residential loans available to Self Employed Borrowers
  • Purchase or Refinance up to 75% of the properties value depending on location and Lender
  • Standard  Rural or Rural Residential Property (must have a house -no vacant land)
  • Can not be a Commercial Income Reliant Farm (only hobby type properties)
  • Terms up to 30 years with up to 5 years interest only
  • Owner occupied and Investment
  • Individuals, companies and trusts.

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

  • An Accountants Letter verifying your income.
  • 6 months of Lodged BAS Statements from ATO Portal
  • 6 months of Business bank statements

You must have an ABN that has been registered (and possibly GST registered if income is over $75,000) Most Lenders require ABN to be registered for 2 years. We have lenders that will accept an ABN registered for only 6 months
Loan purpose Rural Residential or Rural
Loan term 1 > 30 years.
Interest type Variable rate.
Repayment type Principal & interest, or interest-only up to 5 years then principal & interest.
Repayment options Monthly, fortnightly or weekly.
Repayment method Direct debit only.
Maximum Loan to Rural Residential 25 < 100 acres @ 75% LVR Rural Zoning 100 acres or more @ 55% LVR
Credit history Past credit impairment can be considered at higher rates and fees
Minimum loan size $100,000
Maximum loan size $1,500,000
Acceptable Applicants Individuals, Companies and Trusts
Discharged Bankrupts or Part 9 or 10 Yes at higher rate
Cash Out Unlimted Cash out to maximum LVR for all acceptable purposes including usiness purposes including payout ATO debts, workingcapital and purchasing business equipment.
Current Mortgage Arrears in last 6 months Can be considered on a case by case
Debt Consolidation Unlimited to Maximum LVR
APPLY FOR THIS LOAN

*Interest Rates: All rates are subject to change without notice. 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.