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.
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
||Rural Residential or Rural
||1 > 30 years.
||Principal & interest, or interest-only up to 5 years then principal & interest.
||Monthly, fortnightly or weekly.
||Direct debit only.
|Maximum Loan to
||Rural Residential 25 < 100 acres @ 75% LVR Rural Zoning 100 acres or more @ 55% LVR
||Past credit impairment can be considered at higher rates and fees
|Minimum loan size
|Maximum loan size
||Individuals, Companies and Trusts
|Discharged Bankrupts or Part 9 or 10
||Yes at higher rate
||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
||Unlimited to Maximum LVR
*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.