If you're interested in securing a low doc home loan for your property endeavours, it could be worth investigating the various criteria that need to be fulfilled duirng the application process. Understanding exactly what is expected of you will go a long way to help you successfully secure the mortgage you need for your dream home. 

There are a number of factors that need to be fulfilled and satisfied in the eyes of your lender in order to secure these loans. While the amount of documentation you need may be less, this is made up for by other checks. 

Self-Employment History

Because these loans are often sought by self-employed Australians, you need to be able to prove that you've been working by your own devices for least 12 months. This is fulfilled in a number of ways. For one, you need to provide your lender with your Australian Business Number and GST registration as evidence of your businesses existence. 

This also helps to prove that your work is profitable and sustainable, which is important for lenders to make note of so they can be reassured their loan will be repaid in due course. 

Credit History

Furthermore, as with any other type of credit product, you will need to provide evidence of your past experiences with things like credit cards and personal loans. The cleaner your credit history, the easier your home loan application process will be. After all, these are the types of borrowers mortgage lenders are willing to get behind – ones that have proven in the past they're reliable and capable. 

Speaking with a home loan professional about the options available to you could help you find the perfect mortgage product for your property goals. 

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we'll call you!