Low documentation (or lo doc) loans are designed specifically for self-employed borrowers who are not able to disclose their incomes. Banks just love to make it hard for anyone with a self-employed business to borrow money. The process for self-employed loans can be incredibly difficult sometimes. However, not all banks have the same requirements. Lo doc loans are available as fully featured home loans, concerning:
- Interest rates
- Bank statements
- Income verifications
- BAS statements
- Letters from accountants
