low doc timeframe?

If a normal loan with all the paperwork is 21 days for finance, how long is a low doc refi with just ABN, no BAS?
Is it less work for the lender so done in a week?
Does a 60% differ to a 80% lend, in time that is?

Just curious as to how fast one can be put thru. thanks.
Chris
 
Chris

With the right lender 14 days would be more than adequate and certainly for a lodoc 60 i think you could probably halve that time.

Sometimes the longest process is getting the loan documents issued, approval can be fairly swift.
 
Hiya Chris

What RT said , and just expanding a little on that

An 80 % lo doc can take longer depending on the lender because

Typically, at 60 % lenders may rely on the contract only without a val if a bunch of other simple conditions are met. At 80 % lo doc, they will want a full internal val

Also, at 80 % LMI is most likely needed, so the loan may have to go through that process as well, which may adda few hours to a couple of days

ta
rolf
 
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