Low Doc 70% LVR

Low doc loans at 70% LVR are available with many financial institutions and lenders within Australia. With a 70% LVR low doc loan, you will need to contribute either 30% deposit or equity from another source to be eligible.

What is a Low Doc 70% LVR Loan

A low doc loan at 70% LVR involves lending no greater than 70% of the value of the property. With low doc policy, you will not need to show the type of income documents associated with a full doc loan like tax returns or financial statements. We invite you to use our online LVR calculator to help determine the LVR for your loan doc loan.

Why Low Doc Loan at 70% LVR?

Getting a low doc loan at 70% LVR is generally cheaper in terms of LMI cost from a low doc loan at 80% LVR. Further, more lenders offer a low doc 70% LVR loan than a higher LVR low doc loan. It’s wider availability gives you a better choice of lenders who best suite your needs.

Costs for 70% LVR Low Doc Loan

The costs for a 70% LVR low doc loan differs between lenders. As the LVR is still low compared to an 80% LVR low doc loan, you could get normal professional package pricing with most of the lenders who offer this type of low doc loan.

Further, many lenders will reduce the set up costs for a 70% LVR low doc loan to the same costs as a normal loan.

LMI for 70% LVR Low Doc

There are a very small number of lenders who will give you a 70% LVR low doc loan with NO LMI. Hence you could have the LMI waived for 70%LVR low doc loan with the right lender.

70% Low Doc with Accountant’s Letter

It is possible to get a 70% LVR low doc using a supporting accountant’s letter as verification of affordability. This policy is available with a few non bank lenders, and even with 3 major lenders.

70% Low Doc with No BAS

70% LVR low doc loan with No BAS can be found with several lenders in Australia. No Bas low doc policy is very useful for people who do not have their Business Activity Statements (BAS) in order. There are even lenders who will not charge LMI for a low doc 70% LVR with No BAS. Therefore, by avoiding LMI can save you thousands.

Low Doc 70% LVR Construction Loan

Low doc 70% LVR construction loans can be done with many lenders. In many cases they can be done at normal low doc policy and pricing. In some cases, they can be priced cheaper than 80% LVR low doc loans as the LVR will be lower.

Self Employed period for 70% LVR Low Doc Loan

The self employed period for a 70% Low doc loan requirement can vary between lenders. In most cases, lenders will require a 2 year minimum self employed period to qualify for a 70% LVR low doc loan. With a small number of lenders, you will be able to get a low doc loan at 70% LVR with only 1 year self employed history. It’s best to speak to a Mortgage Providers broker in this case to be guided to the best possible lender to suite this scenario.

Cash out Refinance Low Doc 70% LVR

Cash out is possible for a Low doc 70% LVR home loan with some lenders in Australia. The cash out purpose can vary between lenders, and can include any of the following reasons:

  1. Future property purchase
  2. Debt consolidation
  3. Renovations
  4. Business purpose
  5. Purchase of investment/s (shares, managed funds, etc)

Bad Credit Low Doc 70% LVR

Bad credit low doc loans at 70% LVR can be found with a few lenders who specialise in bad credit. Hence these types of lenders who will finance bad credit loans at 70% LVR will be non conforming lenders.

At Mortgage Providers, we have access to many lenders who can offer 70% LVR Low Doc loans. These types of lenders can have different policies, and our brokers know the differences and policies between these lenders. Best of all, we know how to get this type of loan priced just like a full doc loan and avoid unnecessary costs and charges. Call us today, you will be pleased d with what we can offer you.