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- In Bee Savvy - Getting the most out of your loan, Scary scores - Credit scores and your finance
There are many reasons why you may require a low doc loan, such as a marked increase in profits since the completion of your previous tax returns.
There is usually strict criteria that must be met when obtaining a low doc loan, but you may be surprised to know that there are options for low doc loans even if you have a negative credit history, including defaults and court judgments.
It is likely that these will be need to be paid either prior to the home loan application, or as part of the settlement if you are refinancing or consolidating debts.
However this option can be seen as a stepping stone to help you achieve your goals without delay. At a later stage there is the potential to transition to a traditional home loan product, should you meet the criteria at the time.
So if you are looking to refinance, consolidate debt or purchase a property, and require a low doc loan with no tax returns available, and have been self employed for a minimum of 12 months, then we have solutions that may suit you.
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