LOW DOC CONSTRUCTION LOAN

Discussion in 'Loans & Mortgage Brokers' started by Anjohn, 31st May, 2020.

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  1. Anjohn

    Anjohn Well-Known Member

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    Hi, I’m going to build a duplex in NSW, anyone could recommend a good low doc loan on the market? Which lender would accept limited financial supporting doc e.g.only accountant’s letter?
     
    Anjohn, 31st May, 2020
    #1
  2. Lindsay_W

    Lindsay_W Well-Known Member

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    La Trobe and prepare to pay through the roof for it, max LVR 75%.
     
    Lindsay_W, 1st Jun, 2020
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  3. MTR

    MTR Well-Known Member

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    I have heard very expensive?? Higher interest rate?
     
    MTR, 1st Jun, 2020
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  4. Lindsay_W

    Lindsay_W Well-Known Member

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    Yep around 8.39%
    At 60% LVR you may find a more mainstream lender, anything above that it gets pretty limited and expensive
     
    Lindsay_W, 1st Jun, 2020
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  5. MTR

    MTR Well-Known Member

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    This is steep
    However, I dont believe there are now many choices with regards to low doc construction.
     
    MTR, 1st Jun, 2020
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  6. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    Lo doc = higher rate. Cant have the cake and eat it.
     
    Tony Xia, 1st Jun, 2020
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  7. MTR

    MTR Well-Known Member

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    You once could, RAMS lo doc construction loan ticked all the boxes. Sadly gone
     
    MTR, 1st Jun, 2020
    #7
  8. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    Yep, those days are gone.
     
    Tony Xia, 1st Jun, 2020
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