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 Construction Loans for Single / Duplex Residential Property Construction.
If you are a self-employed individual in Australia who is looking to build a new property, you may be able to apply for a low doc home loan for a construction loan. However, it’s important to note that not all lenders offer low doc home loans for construction loans, and eligibility criteria may vary between lenders.

When applying for a low doc home loan for a construction loan, you may need to provide additional documentation to support your application, such as a building contract, a fixed-price building quote, and evidence of your income and financial position. You may also need to provide a deposit or a percentage of the building costs upfront to secure the loan.

Additionally, it’s important to carefully consider your ability to repay the loan before applying. Building a new property can be a complex and lengthy process, and there may be unforeseen delays or additional costs that can impact your ability to make loan repayments. Make sure you have a solid plan for the construction process and a clear strategy for generating income from the property to support the loan repayments.

So if you are self employed and you do not have up to date company or personal tax returns then a low doc construction loan may be the right solution for your lending needs if you are constructing a residential property.

  • Low Doc Construction loans available to Self Employed Borrowers
  • Borrow up to 80% LVR of Hard Costs (Hard Costs = Land Value + Construction Costs)
  • Maximum loan including any refinance is $1,500,000 to 80% LVR in (Cat 1 Locations – high population post codes in Capital Cities or Major Regional)
  • $1.250,000 for Cat 2 locations see Matrix Below for LVR limits.
  • 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

With a low doc 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 lender.

You must have an ABN that has been registered (and possibly GST registered if income is over $75,000) ABN to be registered for 2 years or more and GST registered for 12 months or more.

Loan purpose Construction of Residential Property
Loan term 2 > 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 80% of Hard Costs
Offset Account 100% Redraw Offset Facility available
Minimum loan size $200,000
Maximum loan sizes Cat 1 Locations:

Up to 80% LVR to $1,500,000 (high population post codes in Capital Cities or Major Regional)

Cat 2 Locations:

Up to 65% LVR to $1.500,000

Up to 70% LVR to $750,000

Up to 80% LVR to $500,000

Note: LVR is based on hard costs (hard costs = Land value + Construction costs)

Acceptable Applicants Natural Persons, Companies and Trusts (No Developers)
Number of Dwellings Up to 2 dwellings on one title
Revert Rate Roll to rate as per standard rates when construction is completed
Credit History Must have clean credit file (paid defaults up to $500 may be considered)
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.