If you would like more information, or you just want to check to see if we can provide a better proposal, use our online enquiry form or contact us on:
0800 699436
(0800 OXYGEN)
or " title="Contact First Rate Mortgages">CLICK HERE TO EMAIL US
Contact me by Skype
Low Doc, Lo Doc Home Loans & Non Conforming No Doc Home Loans to 75%
Hard to prove income? Low Doc / Lo Doc or non conforming loans were an exciting product that allowed many self employed and small business owners the opportunity to buy homes, investments. or access equity in their property.
But times have changed with the current credit squeeze, with loans often only available now, if you have significant equity and even then we may have to approach a Non Bank Lender, Solicitors Nominee fund or a Private Investor for a loan offer.
Low Doc Home Loans are also known as No Doc or Lo Doc Home Loans, Self Cert Home Loans or No Financials Loans.
Provided now mostly by Non Bank lenders up to say 75% of the valuation, the common factor is that the requirements to confirm income using the usual Pay Slips, Letters from Employer or Balance Sheet and Accounts are waived. Often the lender is relying on you to estimate your income without the need for them to verify it. A current Registered Valuation will be a key requirement and often the lender will want to meet you personally at the proposed security address. For more information visit our Non Bank Low Doc page on www.nonbank.co.nz.
If you are self employed, a business owner, or may be on commission only or have part time or seasonal work a low doc or self cert home loan may be just right for you. Often you will have found out that your normal banker or broker makes it just too hard for you, with too much paper work required.
A Low Doc Loan can be for a 12 - 24 month term in a bridging finance situation, with options to either meet monthly interest payments or have repayments included or added to the loan, which may give you time to increase your income or to sell down. Options also exist for longer terms out to say 25 years but our goal with these is to try and get you back to a Bank with lower interest rates after say 3 years.
Contact us for information on low doc home loans to 75% of valuation with minimal income information required.
Contact us for more information
info@firstratemortgages.co.nz
or Freephone 0800 699436 (0800 OXYGEN)
Contact me by Skype
