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Helping Self-Employed People Become Homeowners

How Low-Doc Loans Can Help Self-Employed People Become Homeowners

Often it’s far harder to get a self-employed home loan than it is to get a standard mortgage.

Why is that?

Information from the Australian Investments and Securities Commission stipulate there are many Australians who make good money being self-employed. The problem, however, stems from the fact that the income isn’t consistent.

While self-employed people have the income and assets that are needed for home financing, banks and other traditional lenders want paperwork that accurately show it. That’s where the problem lies. Without income verification such as financial statements or tax returns, freelance workers have a much harder time proving their worth to attain a loan.

Although difficult to attain, it’s not impossible. Thankfully, there are several self-employed home loans that were created to provide some flexible options so the self employed can prove their income.

A Brief Overview Of The Low Documentation Loan

Low documentations (low doc, for short) loans disregard the limits tied to traditional mortgage loans. There’s no need to provide an in-depth array of information regarding your income.


In order to qualify for low-doc home loans, you must meet three pre-requisites:


  • You need to have an active Australian Business Number that goes with the self-employed status. It is best if this number has been active for the last year 12 months.
  • You will need a minimum of 20 percent (as a general rule) of the property’s value to be down (deposit).*
  • You need to have some proof of income.

* The Team at Sherlock also has access to 85% and 90% Low Doc Loans. Contact us for details on how you can apply today.


Since there’s not a lot of documentation, the entire process of applying goes smoother. When asked to provide evidence that you have reliable income, you have a choice of one or more of the following three options:


  • Bank statements that show the business income and expenses
  • Business activity statements
  • Accountants letter


There’s no reason you can’t get a home loan just because you are self-employed. Stop allowing the conventional methods of mortgage requirements keep you from doing so. With Sherlock Holmes Lending Solutions, you can get into the home market now, not later. Ask about our low-doc home loans today!


self employed loan