Wanna get a loan for PPOR 70% lo/no DOC

Hello to all my REI colleagues,

Can anyone help with some information with this.
I need a 70% lo/no Doc loan for a PPOR. The bank value of the property (house on suburban block) will be say $420,000. We will have about 145k as a deposit and to pay costs.
WE have a company with an ABN that is a few years old now. Because of some months in stop n go employment (exemplary 30 year record prior to this mind you) we think that a lo/no doc may be the way to go.

We have funds in the co structure that could be used (in some way??!!) to provide income as well, if that helps.
Bonds, annuity ?????:rolleyes::confused::eek:

All ideas welcome.
 
Bankwest still do 80% low doc loans without BAS statements.

I think Suncorp probably do 75% or something as well, haven't done a lo doc for a while.

At 60 everyone will do it, so if you're happy to put some of your company funds towards that it will be easy.

But as Bigtone said, you shouldn't have too many problems with a long term ABN...
 
Thank you Bigtone, Perth Investor and Piston Broke.

I have only ever had full docs before, so can you explain the diffences between a low doc and a no doc?:confused:
 
no doc is where u just state u can afford the loan.............quite rare these day

if u have ab ABN and GS reg for a couple of years then a lo doc loan ( stated income) may fit

ta
rolf
 
So Rolf, No need to construct an income producing investment in the company name in order to show we can service the lo doc. Just flash the co abn and date of incorporation?

Sounds ok.

Is it the same for an investment property?
I may do a spot of developing (again). :)

I feel pretty safe investing with a 30-40% stake. Ups and downs don't worry me then.:D
 
As the boys said 70 Nodoc is available around 7.99% variable but lodoc would be cheaper by 1% - 1.5%.

Lodoc construction might not be so easy and limited to a few mortgage managers.
 
Who does lodoc 60% construction loans? We need one in the next few weeks/months/whenever it is the builder actually draws up our plans. That or lodoc 60% bridging finance.
 
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