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Home Loan No DocNo Doc Home Loans in the FlexiFree home loan range:What are no doc home loans? No doc home loans are home loan mortgages that do not require the borrower to verify his or her income.
How can a self employed person afford to repay a no doc home loan? Self employed people enjoy tax deductions that wage earners don't, so they have more tax free dollars for the same taxable income, and can repay the no doc home loan. This is especially important when considering a no doc loan for the self employed and small business person or the contractor because tax deductions allowed will make the taxable income fall below the required amount to prove serviceability on a traditional home loan. So a no doc loan will be approved where an income verified loan will not. In fact business owners enjoy depreciation and expense reductions of their income, that wage earners don't for similar expenses. So the self employed can afford to repay a no doc loan where a wage earner can't on a similar taxable income. What does self certified mean in no doc loans? In no doc loans you don't have to verify your income, but you have to tell the lender that you can make the repayments. In no doc loans this is done on a declaration to the lender that you can repay the loan. Is a no doc loan a loan without any documents? No. A no doc loan is a documented loan that does not require income verification documents to prove you can service the loan. To check out Australia's best home loan click here now! To apply for our no doc home loan in the FlexiFree Home Loan Programs please click here now. |