Self Employed Mortgages & Low Doc Loans

Low Doc Loans & Home Loans For Business Owners

There are a whole range of lending scenarios that qualify as special situations in Australia. If you're looking for more information on this, you can be reassured that we have dealt with many of these cases and commonly can help get you your home loan. Take a read of this page and then please feel welcome to get in touch.

What Is A Low Doc Loan?

There are many situations that come under this label. Commonly we see bankruptcy, work history, maintenance and child support, and local court judgements that can affect your ease to being granted a mortgage. These circumstances do not necessarily mean that a home loan is out of reach. Whatever your individual situation is, working with an expert Gold Coast mortgage broker will only benefit your case. We have worked with many clients over the years with bad credit and a less than perfect financial background, and it can still be possible to get you a good deal!

Can You Help Expats Get A Home Loan in Australia ?

If you are an expat looking to buy a home in Australia, we are here to help. Your mortgage application will involve some proof of visa, and in fact perhaps you are unclear of the rules surrounding your visa and buying property. Feel welcome to get in touch and our expert mortgage advisers will be happy to assist you. We will take a thorough look into your legal status here in this country and help you with which steps you need to take in order to bring your dream to reality. For many visas it is totally possible to buy property and receive a home loan. We can even help you to get the same loan rates as Australians!

Home Loans For Self Employed

In the past being self employed has been considered more of a risk by lenders than those in regular employment. Here at Broadbeach Mortgage Brokers we know that many self employed people bring in a highly stable income. In many ways it is more reliable as there is no threat of redundancy and your earning potential is greater as all profits can go back into your business! There are several methods that we can employ to prove how stable your financial income is and therefore show that you are a reliable investment for a lender.

Self employed and looking for a home loan? No problem

​As the best mortgage brokers on the Gold Coast, if you're looking for a mortgage broker near you, we are the people to help! We know that gaining a mortgage can be daunting if you are self employed. With us as your local experts you can let your worries go! There are many types of home loans offered by lenders across Australia and our role is to compile a list of your options. We will also tailor the mortgage options to suit your specific needs, getting you the best deal possible!

There are many different types of mortgage home loans. Whether you are a first time buyer or looking for something else we will help you to make the most out of your finances. Dependent on your calculated income, the banks will offer you different deals. This may require a deposit or in some cases we may be able to arrange for you a no deposit home loan. As expert mortgage brokers we will broker a home loan for you that will offer you the deposit and repayment plan to suit you.

How Do Lenders Assess My Self Employed Income?

Most lenders consider your tax returns to be an indication of the stability of your business. This is why they ideally want you to have been working as your self employed business for 2-3 years so that they can make a more evidenced prediction for your future income. They all do this differently, for example one lender may look at the average of your last two years of income, another may use the lowest income of the two years and another may use simply your most recent income at the end of the financial year. They then may add on the expenses shown on your returns, whereas others do not. The variety in these calculations mean a great variety on your loan application!

How to Get a Mortgage When You Work For Yourself

Getting in touch with us is your first step to securing a mortgage and then a dream home! We will work with you to process your self employed income history, creating an excellent mortgage application on your behalf. We will help you to arrange an excellent mortgage loan pre approval, which is where a lending company decrees you to be a secure investment based on your prior financial income.

Do I Need 2 Years Income Evidence To Get A Mortgage?

Being self employed is not going to necessarily have a negative effect on your ability to get a good rate mortgage loan. By working with experts such as ourselves we can source you some good quality options. Ensuring that you have at least two years’ tax returns and financial statements will boost your application. There are ways around this, so if you do not have this documentation please still feel welcome to get in touch. We know our lenders well, and some are more flexible than others. For example, most lenders will require you to have been self employed for 2 years minimum, but there are many who will work around this with an accountants letter for example or other evidenced that you have a steady income and can affort your home loan repayments.

Can People With Previous Credit Issues Get A Mortgage?

There are some measures that we can take to prove that you are a reliable borrowing party. As the number of lenders is vast, they each use different methods to measure your reliability. We have worked in this field for many years so our experts know exactly how to get you the best deal, keeping the interest rates low and other features as the best that they can be for you. An example of this, particularly for those with a bad credit history, is that we can prove your credit line through other sources. Some lenders will even accept documentation that proves you have been paying a variety of bills on time for 12 months! 

We're specialized in picking up applicants where the banks think they're not a good fit. Whether you've had a few bumps in the road, or your financial situation right now means you can't come up with a huge deposit towards a new purchase, let's talk. We'll help not only put you in touch with the right lenders, we'll help you put together an application to get you approved and into your new home fast. Interested? Hit the button below to get in touch or call us on 0450 231 551