Low Doc home loans from *5.35%
Low Doc commercial rates from *5.99%
Low Doc vehicle rates from *5.99%
Low Doc Loans Residential and Commercial Loans
“We fund Australia wide!”
Low Doc loans are the savior of small business. Without them many self-employed people… the backbone of our economy… would be unable to raise funds to purchase a home or expand their business operations. We here at PFG Mortgage Managers understand the needs of entrepreneurs. Since 2003 PFG has supplied low doc funding solutions helping many business people realise their dreams, whether that be for purchasing a home, an office or funding expansion.
Low doc loans are available to those who have an ABN number and are operating a viable business. There are times however when tax returns and other financials are not readily available for one reason or another. And when cash flows become erratic banks are often dismissive of a small business operator pleading for help. This is where PFG rises to the occasion. We are experts in the field of low documentation home loans and low documentation commercial loans. We understand business…, and have developed special funding options allowing self-employed people fulfill their ambitions;
Call us now. Within a few minutes you will realise you are talking to someone who understands the pressure of operating a business
We Are Low Doc Loan Specialists We Are Here To Help!
Our business PFG Mortgage Managers is not a broker but a mortgage manager which means we access wholesale funding…and then we pass the savings on to our clients. Our lenders rank in the top 100 Australian companies on the Stock Exchange… such as Perpetual Trustees Company Ltd. PFG not only specializes in low doc loans but also has some of the lowest standard full doc loan rates on the market. PFG supports businesses by offering low doc funding solutions, allowing small business operates access to funds at attractive rates. This ensures they are able to retain the full doc clients which supply the majority of home loan applications to the broker market.
Low Doc Loan Options and FAQ s
- Who can apply for low doc loans? Only available to self-employed customers who have an ABN number and are operating a viable business.
- How long must I have had an ABN? Your ABN must be at least 6 months old… exception to this is if client is purchasing an existing business, then a 1 day ABN is acceptable.
- What is the maximum low doc loan size? You may be able to borrow up to 80% of the value of the residential security (eg your house or investment property). On exceptions, we can consider lending up to 100% of the value of the security if 100% of the funds are for business use and the ABN is more than 12 months old.
- Do I need to have clear credit history? No, loans available to customers who have impaired credit history.
- If I have some credit issues…such as missed payments or defaults… can I still obtain a low doc home loan?Yes … but we will need to know the reason why and feel comfortable you will be able to make the payments and are unlikely to go late with our loan.
- Does PFG refinance existing low doc loans?Yes.
- Can we do residential construction funding?Yes.
- Can we capitalize the payments during construction?Yes.
- My accountant won’t sign any low doc declaration. Can we still obtain a low doc home loan?Yes … if we view your trading accounts and your last 3 months bank statements showing your turn-over an accountant sign-off may not be required.
- Can we convert our low doc home loan into a full doc?Yes … we will view your last 2 years tax returns and if suitable will happily convert your low doc home loan into a full doc at no cost.
- Why are low doc home loans more costly compared to full doc rates? The cost of funding relates directly to risk. A client who is unable to supply full tax returns compels the lender to take more risk.
- Can we have our property held in a trust for asset protection?Yes …PFG understands the risks associated in operating a business.
- Can we have the property in my non-working partner’s name and use my income as co-borrower for asset protection?Yes …you can.
- Does PFG allow cash out for working capital?Yes …we do to allow you to expand your business.
- Can we have cash out to pay my ATO account?Yes …we will allow cash out to clear all outstanding ATO obligations.
- Can we have unlimited cash out?Yes …PFG allows unlimited cash out up to 80% LVR (Loan to Valuation Ratio).
- Do break costs apply if we discharge early? There are no break costs on variable low doc home loans.
- Can you check the value of my property?Yes.
- I’m not sure if I have any credit issues. Can you help?Yes.
- Can I obtain a low doc loan if I have an ABN but not actually operating a business? No. You must be currently running a business that generates at least 50% of your total income.
- Can we pay out a Commercial Bill? Yes, we refinance Commercial Bills.
- Looking to purchase a commercial property and not self employed? Our lease doc may be the answer. Providing the lease covers the repayments we can approve your loan.
- Self-employed and want to purchase or refinance your commercial property and have a set and forget mortgage? We can help up to 80%.
- Wanting to buy a franchise and don’t hold an ABN, but do own a property with equity? Then our No Doc Loan 60% may be the right option for you.
- Self-employed just over 6 months? We can arrange a low doc loan up to 85% with 3 months bank statements and self-declaration of income.
- Operating your business for 12months plus? We can do 85% with just self-declaration and no bank statements…only a letter from your accountant required.
- Does PFG allow cash out for working capital? Yes we do to allow you to expand your business.
- Had/have some credit issues? We still may be able to help.
- PFG has the largest range of low doc home loans… up to $2.0m against one security.
- Private loans for purchase of existing business/and start up secured against residential/commercial properties
- One day old ABN, client needs to show business plan and majority of funds being used for business use. Max LVR 70%.
- Do you need equipment finance without having to fully verify your income? If so, you will require clear credit history, and your ABN registered for more than 12 months.
- What is the maximum loan amount? The loan size varies from $15,000 to $150,000 secured on the vehicle. In total, the maximum exposure under this product is $250,000
- What are the interest rates for a low doc equipment finance? Rates change monthly, so contact us to find out the latest rate.
- How long does approval take? We offer 24 hour approval from the time we receive your signed application.