There are professions in which you may not need to keep various documents as proof of your steady income. For these individuals, it seems a little difficult to have mortgages from the market when they wish to buy a new property. However, at Asset Loans we can help them with our low doc loan options.
It is a kind of mortgage or home loan for people who have steady income and assets but cannot produce enough documents as their income proof or tax returns to the bank at the time of loan application. This type of loan is also called self-employed home loans in many countries. When you are in Melbourne, you can ask for low doc or low document home loans to get a superior financial support to buy a new home without having enough documents to submit.
In general home loans, the bank or the lender can see the legal documents as the proof of your income, business, job and tax return. These papers help them to rely on you. In case of low doc home loan finance, they do not have such papers and have to trust you on the basis of your declaration about your income and legal business.
It is different from the general home loans in terms of papers required to be submitted to the bank. In the case of self-employed loan applicants, you need to submit a letter from your accountant mentioning your annual income and type of employment. Or else, you can also submit a bank statement which shows the income and expenses in your business. Both these docs are considered as a valid and legal evidence of your steady income.
Since the borrower cannot provide enough documents to prove his legal income, most of the legitimate lenders do not want to have a deal with them. If you can manage to contact with an efficient, reputed and experienced home loan company like Asset Loans then you can get an easy chance to avail the loans.
Our experts will talk to you regarding your home loan requirements, the pattern of your self-employment, monthly income and will check the limited documents you have. Then they will find the best lender from our wide range of bank and finance partners. Once they can find the right match as per your documents and needs, then they will help you in applying to that lender for your low doc home loan.
We will help you to know what kind of documents you must prepare and submit to the lender to get the loan, and how to proceed with your loan application. Please call us for further details on this loan in Melbourne.
If you need detailed information then please contact us over the phone. Our customer care executives will be happy to answer your questions and get you out of your doubts.