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 Single / Duplex Residential Property Construction.
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 Residential loans available to Self Employed Borrowers
  • Borrow up to 60% of Completed Value
  • Maximum loan including any refinance is $850,000
  • Cat 1 and 2 locations only (high population post codes in Capital Cities or Major Regional)
  • Standard Residential Property (must be zoned residential)
  • Companies and trusts and Natural Persons.

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

Most construction finance applications are assessed according to the standard process and many of the same documents are required, along with a fully completed documentation which includes:

  • Signed fixed-price building contract between borrower and a licensed builder Tender
  • Stamped, council approved building permit / stamped plans /  FPBC / Specifications
  • Copy of builder’s insurance policy

With a construction loan, you can break up the drawdown of the loan amount into five progressive draws, which parallel the construction phases. As one phase of the construction is complete, you are able to draw down the next portion of the loan. If you did not borrow 100% of the cost of construction, the lender will request that you pay all the funds you are required to contribute, before they release any payment to the builder.

  • The Slab / pad (floor – also known as ‘bearers and joists’ for wooden floors)
  • Roof (usually including frames)
  • Lock up
  • Final

The fact that payment is delivered to the builder in stages means that cash is not paid out until the builder’s work can be inspected and approved by the borrower.

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 Construction of Residential Property
Loan term > 30 years.
Interest type Interest only during construction period
Repayment type Reverts to Principal & Interest on Completion
Repayment options Weekly / Fortnightly or monthly
Repayment method Direct Debit
Maximum Loan to 60% of Completion Value
Credit history Clean Credit Only
Minimum loan size $100,000
Maximum loan sizes $850,000
Acceptable Applicants Natural Persons, Companies and Trusts
Contingency N/A
Pre-Sales no pre-sales required
Current Mortgage Arrears in last 6 months NO
Discharged Bankrupts No

*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.