Low Doc Express Loan
Low Doc loans are a flexible solution for self-employed people who have income and assets, but are unable to provide the required financial statements or tax returns at the time of application.
Red Rock's Low Doc Express loan allows you to borrow up to 80% of your property value with no financial documents or tax returns required. Red Rock Mortgages are specialists in low doc loans and can provide you with some of the most innovative and low cost low doc loans available.
Our low doc loan application process offers a streamlined paperwork process so you'll have access to your money sooner.
*All that is required is an income declaration from the borrower.
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PRODUCT SPECIFICATIONS |
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| Rate | Variable or Fixed (1-5 yrs) |
| Repayment Type | Principle & Interest or Interest Only 1-5 yrs |
| Loan Term | 25 - 30 years |
| Max Loan Amount | $1,000,000 |
| Purpose | Purchase or Refinance Owner Occupied Investment/Business |
| Repayment Frequency | Fortnightly, Monthly |
| Repayment Options | Salary Crediting, Cheque, EFT, Direct Debit |
| Split Accounts | YES, 3 + LOC |
| Acceptable Security | Residential Only |
| Acceptable Location | Metropolitan Area, other areas subject to LMI acceptance |
| Max LVR | 80% - $1,000,000 |
PRODUCT FEATURES |
|
| Phone Banking | Yes |
| Internet Banking | Yes |
| Cheque Book | Yes (if LOC) |
| Deposit Book | Yes |
| Redraw Facility | Yes |
| BPay (Inwards) | Yes |
| Salary Crediting | Yes |
| Additional Repayments | Yes |
| Monthly Fee | NIL |
| Portability | Yes |
| Interest Capitalisation | Yes (if LOC) |
| Companies & Trusts | Yes |
| EFT Direct Debit | Yes |
