Low doc Loans
Low Doc Loans
Low-doc loans are predominantly tailored for self-employed individuals, offering a streamlined approval process with reduced documentation requirements. However, this convenience comes at a cost, as low-doc loans typically carry higher interest rates and fees compared to traditional mortgages.

The rationale behind these higher rates lies in the perceived increased risk associated with self- employed borrowers. The minimal documentation provided may not fully assure lenders of your ability to meet repayment obligations. Consequently, lenders mitigate this risk by imposing higher interest rates, serving as a form of insurance against potential repayment defaults.

Gathering all the necessary financial documentation can indeed be a daunting task, making low-doc loans an attractive option for those seeking a simpler application process.
See Our Loan Calculator