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A low-doc home loan is designed for borrowers who can't provide the standard financial evidence required for a full-doc loan - typically two years of tax returns. Most commonly used by self-employed borrowers, freelancers, and contractors.
Yes, though the market has contracted since ASIC's responsible lending reforms. Several non-bank lenders and some banks still offer low-doc products.
Yes - once you have 2 years of tax returns and financials, you can refinance to a standard full-doc loan at competitive rates. Allow for refinancing costs of $1,000–$3,000.
LMI is generally not available for low-doc loans. This is why most low-doc lenders require a minimum 20% deposit (80% LVR).
In April 2026, low-doc rates typically range from 7.0% to 8.5% for variable loans, compared to 6.0%–7.0% for standard variable full-doc loans.
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