Home Loans For Self Employed Clients
There many ways in which a self employed client can obtain a home loan through most of our panel lending institutions.
If you can provide full financials, its as easy as any PAYG borrower. Most lenders will ask for 2 years tax returns and financials for yourself and the business in which you are involved. As long as the income supports the lend and you meet the lenders other criteria, the loan should proceed smoothly.
However, if you don’t have financials up to date because of your busy work life, or you receive income from sources which can’t go through the traditional “verification” process, there is no need to worry. It is still possible to borrow money on low documentation “Low Doc” loans. Some lenders even offer a “No Doc” loan which your Money Heroes can explain to you in more detail.
In this instance, subject to the client meeting the lenders other criteria, it may be possible to “declare” your income without having to provide documentary evidence. It can be a simple, easy process and allows self employed people to access funds that they otherwise couldn’t have sourced through traditional methods.
Many lenders will still offer low documentation loan with similar terms, rates and fees. Ask the Money Heroes to show you the different options available.
To contact your local Money Heroes call 1300 MY HERO (1300 694376) or click here
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