Low Doc Home Loans
Low Doc Home and Commercial loans with out the fuss!
Direct Credit 's Low Doc Home & Commercial Loans.
Direct Credit provides sensible lending solutions for self-employed Australians. We offer straightforward and personalized Low Doc products for Residential and Commercial Properties.
Features of our Low Doc Loans
- Borrow up to 80% on Purchases
- Borrow up to 80% on Refinances
- Debt consolidation including business debts
- Refinance to payout tax debts
- Cash out for Business or Personal Use
- Minimal paperwork
- Residentail security - Metro and Major Regional areas
- Commercial low doc available to 75%
- Vacant Land considered up to 70% Lvr
- Construction loans not available
- No credit scoring and real people are here to make decisions!
- Loan Sizes to $3.5 Million
- Past Credit Issues Catered For!
- Payout ATO Tax Debt OK!
Loans are available for purchases up to 80% LVR and refinancing up to 80% LVR. We can also provide unlimited cash out on refinances. All low-doc loans are subject to land size and postcode locations within Australia. Commercial low-doc funding is also available for shops, industrial, retail, offices, etc.
So if your ready to take the first step towards achieving your dream of homeownership, why wait? Contact DCHLA today to discuss your options and see how we can help make your home ownership dreams a reality.
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Low Doc Criteria
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Obtaining finance for a property when one or both of you are self-employed can sometimes be challenging. Many lenders require a minimum of two years of complete financial statements before they will approve a loan for a property.
At Direct Credit, we do not impose this requirement and verify your income differently
You will need an ABN number that you have held for a minimum of 12 months and be GST Registered where applicable.
** Income Verification options-
An Income Declaration from you, along with one of the following-
- Last 2 ATO lodged BAS statements or
- Accountant Income Declaration or
- 6 Months of Business Bank Statements
Thank you.
I have now had the opportunity to utilise the services of Direct Credit on a personal level and I am so appreciative of the patience and diligence given to finding the best option to furnish our home loan no matter how many times I changed the goal posts. Thank you so much in particular to Derek and Tam for my personal transaction but to all the Direct Credit Team on a professional level.
Thanks Derek, A++++!!!
Thank you so much Derek and Tammy, you are 5 star people.
Tammy communicated consistently and I always knew where the process was at.
Thank you to the whole team at Direct Credit, you have been the amazing! We are extremely grateful and thankful for all your help these last few years.
We have and will continue to recommend your services to everyone.
The support often on a daily basis I have received is well above their designated job descriptions as I said feel like part if the Direct Credit family everyone has been absolutely fantastic always going above and beyond helping me through this long drawn out situation. Again I can't thank you all enough!!! Derek you have the dream team working for you, they have yet again smashed it out of the ball park. So very relieved to have settled today and will definitely as I already do be recommending your companies services to everyone. Thank you all so very much again.
My brother put me onto Direct Credit and the team of Derek, Puawai, Tammy & Katie, they went above and beyond to secure me finance approval to build my new home.
Thankyou all sooooo much 🙏
Thank you direct credit
Masters in guidance through what can be a minefield of qualification
Couldn't recommend them highly enough!
The personal service not only through the loan process, but with ongoing support, is second to none. Would be very disappointed with anyone else after being so well looked after by these guys 🙂
Low Document Home Loans
Explore Low Document Home Loans with Direct Credit
Are you excited about exploring low-document home loans? If you’re on the path to purchasing a home and happen to be self-employed—or if your partner is—navigating the mortgage landscape can feel a bit tricky. But don’t worry! At Direct Credit, we believe everyone deserves a chance at homeownership, regardless of how their income looks on paper. That’s why we offer friendly lending solutions tailored for self-employed folks, including low-doc home loans, to help you achieve your home-buying dreams.
Low Doc Home Loan Requirements
Some buyers assume that low doc home loans in Australia are no doc home loans. In reality, there are still requirements that need to be met to secure one of these loans—both in terms of documentation and other aspects of your financial history. These requirements include:
- Age and citizenship/residency: At Direct Credit, you are eligible to apply for a low doc home loan if you are 18 years of age or older and are an Australian citizen or permanent resident.
- Proof of income: While self-employed individuals don’t always have the same proof of income as people with traditional full-time jobs, they should still be able to prove that 1) they have been self-employed for at least six months, and 2) they indeed have an income stream. At Direct Credit, we require low doc loan candidates to prove their income in one of two ways. Option one is to prove your income via an accountants declaration. Option two is to show at least two quarterly business activity statement (BAS) that you have lodged with the ATO.
- The ability to pay at least 10 percent of the purchase price: You must be able to make a down payment that is equal to or greater than 10 percent of the property’s purchase price. Direct Credit can Refinance home loans up to an 85 percent loan to value ratio (LVR).
To learn more about low doc home loan requirements, visit our page on the subject.
Benefits of Low Document Home Loans
If you’re thinking about exploring low doc home loans in Australia, consider these benefits to decide whether this type of loan is right for you:
- They open home financing up to more people: Worldwide, the so-called ‘gig economy’ is growing, shifting more of the workforce into the freelance/self-employed realm. Low doc home loans for self-employed individuals are going to be essential for serving this important segment of the workforce.
- We Don’t credit Score: So many candidates for home loans are locked out just because their credit histories don’t match a pre-determined requirement. At Direct Credit, we don’t do any credit scoring and make our decisions on a case-by-case basis. This model—of careful decisions made by real people—makes a big difference to our customers.
Finally, our loans are easy to apply for a require minimal paperwork—a benefit that anyone can appreciate.
About Direct Credit
At Direct Credit, we’ve proudly spent over 25 years helping wonderful people like you find the lending solutions you need, especially those who are self-employed or facing credit bumps along the way. If you’re finding it tough to get the home financing you truly deserve, reach out to us today and let’s chat about our friendly low-document home loans!
Low Doc Loans
Expand Your Financing Options with Low Doc Loans
If you’ve been turned down for a home loan, a business loan, an investment loan or some other type of financing, then it might be time to consider low doc loans. Low doc loans are loan options that require less documentation—specifically for proof of income for the self employed—than other types of financing.
Problems Low Doc Loans Solve
If you aren’t sure whether low document loans are the right course for you, consider these common problems or obstacles that low doc financing helps solve:
- Difficulty in providing proof of income: If you’re a full-time employee somewhere, it isn’t difficult to prove that you have a stable and consistent form of income. Just present your latest payslips and/or your most recent tax return and you’re good. If you are self-employed, though, it can be more difficult to show proof of consistent income. Low documentation loans give you some extra leeway. They do still require proof of income, but that part of the application process is simpler and requires fewer documents from you.
- Problems with credit: If you have a poor credit history, then seeking a loan—and choosing Direct Credit over other online loan companies—is a good idea. Direct Credit doesn’t use credit scoring, which opens up our financing and loan options for many people.
- Getting denied by an algorithm:Are you a loan candidate whose applications are always denied before you ever even speak to a real person? If your application isn’t good on paper—based on credit, income, debt or other factors—it can be almost impossible to secure a loan. At Direct Credit, we have real people making decisions, rather than computer programs. We make sure everyone who applies for a loan with us gets a fair chance.
Steps for Seeking Low Document Loans from Direct Credit
If you are ready to apply for low doc home loans, business loans or low doc investment loans, follow these steps to get started:
- Assess your eligibility: Are you 18? Are you an Australia citizen or permanent resident? Can you meet Direct Credit’s other eligibility requirements (you can find them here)? If you believe you will be eligible for our low doc financing, feel free to apply.
- Use Direct Credit’s loan capacity: Qualifying for a loan is one thing. Being able to handle the monthly payments is another. Direct Credit offers several online calculator tools that you can use to determine your borrowing power, your loan repayment terms and more.
- Submit your application:With Direct Credit, it’s easy to apply for a loan through our website. Alternatively, you can schedule a consultation to apply in person. Either way, we look forward to reviewing your application.
Contact Direct Credit Today
If you have any questions, or if you wish to schedule a consultation with one of our financing professionals, feel free to contact Direct Credit today.
Low Doc Loans Australia
Get the ‘Yes’ You’ve Earned with a Low Doc Loan.
Increasing numbers of home buyers are learning about the significant advantages of low doc loans in Australia. Since banks are limited by strict regulations and conservative loan approaches, they are often forced to decline loans to potential buyers who have the fiscal responsibility and income necessary to purchase their first home. Direct Credit Home Loans Australia focuses on providing simple, low doc loans to good buyers who need some help with financing.
Dispelling Misconceptions About Low Doc Loan Requirements
Many people haven’t heard of low doc loans, or if they have, may possess some misconceptions about what’s involved:
- While there’s no such thing as a ‘no doc loan’, we provide our clients with the minimum possible paperwork to navigate through. Ultimately, bank-based home loans involve a tremendous amount of documentation that is enough to run even the finest minds in exhausting circles. You can avoid that with DCHLA’s direct credit loans.
- Low doc loans are processed by real people instead of computer algorithms. We’ll take your real-life situation into account when determining eligibility for financing. As a result, we’re more concerned with what your capacity to pay for financing is, rather than the specific number attached to your credit rating.
- Just like traditional bank loans, low doc loans also factor in the value of the purchase, the amount of the financing needed relative to the property value, and offer the opportunity to refinance down the line when your conditions change.
The Importance of Low Doc Refinance Loans
Several situations highlight the important function that non-bank loans fulfil:
- Those who are self-employed are held to a higher standard than salaried employees due to a perception of instability. While banks often require two or more years of income history for those who are self-employed, we look at the real situations in which you generate your income. As a result, DCHLA can often qualify buyers who otherwise would receive a flat ‘no’ from a bank.
- Not everyone has the credit rating to match their actual capacity to pay for home financing. Whether it’s due to minimal credit for a first-time home buyer, or some financial difficulties in the past, banks can be blind to the real creditworthiness of people independent of the number on their credit score.
If either of those situations applies, or you have another concern that impacts your ability to get a home loan, our team would love to speak with you and give you some helpful information.
Why You Should Use Direct Credit Home Loans Australia
For more than 25 years, we’ve been dedicated to helping hard-working Australians achieve their dream of homeownership with our affordable home loans. Whether you’re looking for the ease of a low-doc loan or want to support your fellow Australians with Direct Credit Home Loans, We are here for all your financing needs. Feel free to reach out and let’s chat about the qualification process today!
Steps to your Low Doc Home Loans
1. Am I eligible for a loan?
You must be self employed & the holder of an ABN number and GST registered (Where applicable) for a minimum of 1 year. You must also be:
- Australian citizen or permanent resident
- Over 18 years of age
- Have at least 10% deposit or equity in an existing property
- Have last 2 current ATO lodged BAS or an accountant to sign a declaration.
- All loans real estate secured – vacant land, residential dwelling or commercial.
2. Know your loan capacity
See how much you can borrow using our simple borrowing power calculator, or call one of our friendly team to get a detailed borrowing capacity over the phone today
3. Book a consultation or apply online
Call us on Freecall 1800 000 800 for a no obligation chat or, if you’re ready to apply get started now.