Alt doc loans or alternative document loans are loans that are for people who are self-employed or in a small business and may not have the ‘traditional’ documents required to secure a home (or other) loan.

For many of Australian’s self-employed, getting a home loan can be very difficult. This is because a lot of lenders are rigid with what they require in the way of documentation and if your financials or tax returns are not up to date or your income has increased since they were last completed, you may not have the required documentation for an application.

The main difference between a Full Doc (traditional) and an Alt Doc (or Low doc) loan is what documentation you need to provide to make it happen. Alt Doc loans simply mean that instead of providing the traditional documentation to verify your income (2 years tax returns etc), the lender will accept alternative forms of income verification. Usually this can be in the form of 6 months Business Bank Statements, 6 months BAS or even an Accountant’s letter declaring what your business income is.

You can book in for a consultation and we can take you through the process of securing a loan. We will discuss the documentation required to secure your loan and what lenders are able best suited to your business and financial position. We will be with you for the long haul, and our aim is to get a loan secured that will not overburden your other financial responsibilities and keep you in business for longer.