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The 85% low doc home loan is one of the higher LVR low doc home loan available in the market today. This is a unique product which has assisted many self employed applicants get into their home or refinance to a level which is generally not available with other low doc home loan providers.
What this home loan offers is a way to minimise you outlay when purchasing a property by providing an additional 5% funding as compared to traditional low doc home loans.
Here's an example, let's say you purchased a property worth 400k you would end up with a further 20k in hand to cover other costs as compared to a traditional 80% low doc home loan. What this means is that in essence you purchasing power can be increased through a higher LVR low doc home loan, it's that simple.
The 85% low doc home loan has been bought into the market to further assist self employed applicants who are unable to show evidence of income by way of tax returns.
The need for a higher LVR low doc home loan has been driven by the higher demand for such a product in the low doc space and is now available to you.
The 85% low doc home loan is a great vehicle to purchase a property for self employed applicants who just don't quite have the savings to utilise a traditional 80% low doc.
A common question is, what can the 85% low doc home loan be used for? And below we have highlighted these questions and answers for you:
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Can the 85% low doc home loan be used to purchase a property I want to reside in? |
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Yes the 85% low doc home loan can be obtained for purchasing an owner occupied property |
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Am I able to refinance my existing low doc home loan with the 85% loan? |
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Yes, the 85% home loan can be used to refinance your existing home loan |
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I want to consolidate my debts; can the 85% low doc home loan be used for this? |
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Yes, a debt consolidation can be done using the 85% low doc home loan |
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I'm an investor and want to use the 85% low doc home loan, can I do this? |
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Yes you can, this low doc home loan can be used for investment purpose |
As you can see the 85% low doc home loan is a versatile product and has a number of uses which may suit your individual needs.
To find out more about the 85% low doc home loan and how it may suit your needs just contact us or you can arrange for one of our experienced low doc home loan consultants to come out and see you. At Low Doc Home Loan On Line we have all your options covered.
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