Some Lenders are offering a "low documentation" or "self employed" home loan for customers. This product permits a loan application with no traditional proof of income required. An income declaration is usuallly required. Most Low Document loans require Lender's Mortgage Insurance. These facilities are very popular in the self employed community as annual tax returns are not required to prove an applicants serviceability capacity. This is particularly useful for businessess that have not completed their annual tax return. Many low doc lenders will put a limit on what LVR the applicants can apply for.
