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Low Doc and No Doc Loans for Self Employed - What You Need to Know?

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North Brisbane Home Loans
Low Doc and No Doc Loans for Self Employed - What You Need to Know?

A no doc loan doesn’t require self-employed borrowers to demonstrate their earnings history by providing tax returns, business records or letters from accountants – that sounds pretty awesome right? Just bear in mind though these loans are considered “high risk” as they can be difficult for lenders to collect payments on should things go wrong so not everyone qualifies for one of these kinds of loans.

If you need a mortgage and don't have any documentation, it can be difficult to find one. Most lenders won't even take the time with no doc loans so finding your next loan is going to be tricky.

This means that the eligibility requirements are even stricter with a low doc home loan. To find out more on what documents can be used for a low doc self employed loan, please visit the North Brisbane Home Loans website.

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