The world of assets can be full of confusing Low Doc Home Loan terms. Although an Australian broker can aid you explore your options, it’s helpful to have a simple understanding of the sorts of loans that can be available to you. In particular, if you’re a borrower who doesn’t apt traditional lending criteria.  

We will discuss conforming and low-documentation loans in this article. What are they and for whom can they be right? 

What Are Low Documentation Loans? 

Low documentation loans, short for Low Doc Loans are specific loans that require less documentation than your outdated home loan application. These types of loans use a self-verification procedure in which the borrower is needed to sign a certificate of income statement. 

Generally, not all lenders provide Low Doc Home Loans, so it can be worthwhile to contact a mortgage broker to know which lenders may be a good fit if you are looking for this type of home loan. 

Who Might Low Doc Loans Be Right for? 

Low Doc Loans are usually right for borrowers who cannot deliver the standard documentation (for example – financial statements or tax returns) that more standard home loans need. Entrepreneurs and the self-employed may be decent candidates for this kind of loan. 

Whether you fall into one of these types or are wondering if you might be the best candidate for a low-document loan, contact an expert broker for help. If you are applying for a Low Doc Loan, you may be needed to deliver the following documents: 

  1. Your Business Activity Statements (BAS)
  2. Your Australian Business Number (ABN)
  3. GST registration information
  4. Evidence of at least 12 months of employment in the same business
  5. The statements of the Bank
  6. A self-verified income statement form
  7. A letter from a lawful accountant approving your funds.

Keep in mind these documents may differ by lender and by-product. 

What Is a Non-Conforming Home Loan? 

A non-conforming mortgage loan is a mortgage loan available to borrowers who do not meet the standard loan criteria of major banks. It is contrary to what is recognized as a primary mortgage loan. 

Who Is a Non-Conforming Home Loan for? 

Non-conforming loans are often used by homebuyers who don’t check all the traditional boxes needed to apply for a primary mortgage loan. There are a number of reasons why a borrower can elect to apply for a non-conforming home loan, maybe they are entrepreneurs or self-employed, do not have the essential proof of earnings, or have some dents in their credit history. 

Am I a Non-Conforming Borrower? 

Whether you have ever been turned down for a home loan because you are self-employed or a freelancer, don’t have up-to-date fiscal records, or have bad credit, then your mortgage loan application can be called specialist or non-conforming. 


We know that if you have been turned down for a mortgage loan as a non-conforming borrower, it will be disappointing, but everything is not lost. We know that real life occurs, as well as our individual and flexible approach has aided offer a substitute approach to borrowers. Click here for more information: .

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