Income shown through BAS and an accountant's letter, not only last year's tax return.
- Indicative assessment within 2 business days, and settlement in 1 to 4 weeks depending on the lender
- Loans from $100K to $2M to buy a home, refinance, or buy an investment property in your own name
- Sole traders, contractors, consultants and company directors whose income is not paid as wages
- Lenders that verify income from recent trading rather than an older return
- Full-doc (tax returns), low-doc or alt-doc (BAS, bank statements or an accountant's letter instead) options across our 90+ lender panel
Your business has grown, but the last tax return on file belongs to an earlier, smaller year. Or the latest return is still with your accountant. Either way, the documents a standard home loan relies on do not reflect what you earn now. A low-doc home loan lets a lender verify your income through other documents: business activity statements (BAS), business bank statements, or a letter from your accountant setting out your income. Low-doc means alternative documents. Your income is still verified, and the repayments still have to fit what you earn. Joseph Farhat and his team look at the paperwork you already hold, the lenders that accept it, and what the trade-off in price and deposit looks like next to a full-doc loan.
Who we can help access finance
- Sole traders whose most recent tax return covers a quieter year than the one they are trading through now.
- Contractors and consultants on an ABN who are paid by invoice and have no payslips to show a lender.
- Company directors paid through a mix of wages and dividends, whose company accounts for the latest year are not yet finalised.
- Self-employed buyers with a home under contract whose accountant holds current figures but has not yet lodged the return.
- Self-employed homeowners refinancing as a fixed term ends, who want their current trading assessed rather than an older year.
- Individuals buying a residential investment in their own name, with business income and expected rent assessed together.
How Low-Doc Home Loans Work
The National Credit Act requires a lender to make reasonable inquiries about your requirements, objectives and financial situation, and to take reasonable steps to verify that financial situation. Being self-employed does not change that. It changes which documents do the verifying. ASIC's responsible lending guide (RG 209) lists, for self-employed consumers, recent tax returns, Business Activity Statements, a statement from the consumer's accountant setting out actual or likely income, financial statements of related business entities, business account statements and bank statements. ASIC has said that low-doc loans in the older sense, without income verification, are effectively gone. The name now describes loans for self-employed people whose income cannot readily be shown by payslips.
Each lender decides which combination of those documents it accepts. Some want a run of BAS. Others want an accountant's letter alongside business bank statements. As lender policy, low-doc usually means a lower maximum loan-to-value ratio (LVR), the loan as a share of the property's value, and higher pricing than a full-doc loan. Where the loan is above 80% of the value, lenders mortgage insurance (LMI) usually applies, a one-off cost that protects the lender rather than you.
Joseph Farhat and his team match your documents to lender policy across 90+ bank, non-bank, and specialist lenders. Settled With Joe is a finance broker, not an accountant or tax adviser. How your income is reported, and what your accountant is able to confirm in writing, are matters for your accountant.
What Lenders Assess for Low-Doc Home Loans
Verified income
the figure your documents support, rather than an estimate of what the business might earn.
Consistency
BAS turnover, deposits into the business account and the accountant's figures are read against each other.
Time in business
how long the ABN has been active and trading, with minimums that vary from lender to lender.
Deposit or equity
with a lower maximum LVR, many low-doc lenders need a larger deposit or more equity than a full-doc loan.
Tax position
whether lodgements are up to date, and any ATO debt or payment arrangement in place.
Living expenses and personal debts
checked against personal bank statements, as on any home loan.
The property
its type, location and value, confirmed by the lender's valuation.
The Low-Doc Home Loan Process: What to Expect
- Tell Joseph Farhat and his team what you are buying or refinancing, how your business is set up, and which documents you already have.
- We set out what each likely lender asks for. If a lender wants an accountant's letter, what goes in it is your accountant's professional call.
- An indicative view follows within 2 business days: a likely loan range, the deposit or equity needed, and the price against full-doc.
- Your application then goes to one lender whose policy fits your documents. Every credit enquiry shows on your file, which is why applications are not spread around.
- The valuation, formal approval and settlement follow, coordinated with your conveyancer on a purchase or your current lender on a refinance.
Indicative Finance Options
| Lender Type | Pricing | Income Evidence | Typical Loan Range | Loan Term | Speed to Settlement |
|---|---|---|---|---|---|
| Bank | Sharpest available pricing | Mostly full-doc (tax returns); alternatives accepted by some in limited cases | $100K to $2M | Up to 30 years | 2 to 4 weeks |
| Non-Bank Lenders | Priced for flexibility, above full-doc lending | BAS, business bank statements or an accountant's letter | $100K to $2M | Up to 30 years | 1 to 3 weeks |
| Private Finance | Not typically used for consumer low-doc home loans. Available for unique scenarios only. | ||||
Indicative figures only. Actual terms depend on your circumstances, the property, and lender assessment at the time of application. We quote your rate and comparison rate for your specific loan amount and term before you apply. Terms are subject to change.
Why borrowers choose Settled With Joe for low-doc home loans
We represent you, not the lender
Joseph Farhat and his team act in your interest from the first conversation through to settlement, and on consumer credit that is a legal duty.
Documents matched to lenders
you learn which lenders accept the paperwork you already hold before you gather anything new.
Both paths side by side
where your returns allow a full-doc loan, we show its price and deposit next to the low-doc option.
Your accountant keeps control of your figures
we pass on what each lender asks for, and what goes in any letter is your accountant's decision.
Self-employed income read properly
we know which lenders look at recent trading and which rely on the last lodged year.
One targeted application
every credit enquiry shows on your file, so the lender approached first is chosen for your documents.
A route to full-doc later
once newer returns are lodged, we can compare a refinance to full-doc pricing, with no promise of the outcome.
Private finance for unique scenarios
where bank and non-bank lenders are not the right fit, we can introduce you to private finance options.
Usually no direct cost to you
as a broker we are typically paid by the lender on settlement.
An honest answer early
if you have a contract date or a fixed term ending soon, tell us early and we will tell you what is realistically achievable before then.
Frequently asked questions
What is a low-doc home loan?
A low-doc home loan is a home loan for self-employed borrowers where the lender verifies income through documents other than the latest tax returns, such as BAS, business bank statements or a letter from your accountant. It is still a fully assessed loan. Your income, expenses and debts are checked, and the property is valued. Pricing and the deposit required usually differ from a standard full-doc loan.
Will applying affect my credit score?
An application shows on your credit file whether it is approved or not. Several in quick succession can make the next lender cautious. Self-employed borrowers can end up with several enquiries simply because the first lender wanted documents they did not have. We check what each lender accepts before anything is lodged, so the enquiry goes to a lender that works with your paperwork.
What is a comparison rate, and why are no rates shown on this page?
A comparison rate combines the interest rate and most of the standard fees into a single figure for a given amount and term. It matters on low-doc loans, where fees can differ widely between lenders. Because it depends on your loan size and term, a headline figure on this page would mislead more than inform. You get your actual rate, comparison rate and total cost, worked out for your scenario, before you choose.
Do you work with borrowers with bad credit?
Yes, we do. A default or a few late payments do not rule you out, and there is nothing to be awkward about in telling us. Lenders on a low-doc file still look first at whether your verified income covers the repayments, and at recent conduct on your business and personal accounts. A number of panel lenders price for a listing rather than decline, although the choice narrows when alternative income documents and a listing appear together. Let us know at the outset, so the right lender is approached first. Joseph Farhat and his team will give you a plain answer on what is achievable before you apply.
Do you act in my best interests?
Yes. The National Credit Act places a best interests duty on us whenever we give credit assistance on a consumer home loan, however your income is documented. That means reasonable enquiries into your situation, requirements and objectives, and never suggesting a loan that is unsuitable for you. Where our interests and yours conflict, yours take priority. Our Credit Guide reaches you before any credit assistance is provided.
Do lenders still check my income on a low-doc loan?
Yes. Responsible lending applies in full. A lender must take reasonable steps to verify your financial situation, and low-doc lenders do that with alternative documents rather than skipping the step. Expect your BAS, business bank statements and any accountant's letter to be compared with each other.
What documents can replace tax returns?
ASIC's guidance lists Business Activity Statements, a statement from your accountant setting out actual or likely income, financial statements of related business entities, business account statements and bank statements. Each lender accepts its own combination. Some ask for several BAS periods, and others want an accountant's letter backed by business bank statements. We tell you which lenders accept what you already hold.
What should an accountant's letter say?
Lenders that accept a letter usually ask it to confirm your income from the business and how long you have been trading, signed by the accountant who prepares your figures. What the accountant is able to confirm is their professional decision, and the figure has to be one your documents support. We pass on the lender's requirements so your accountant can see what is needed.
Does a low-doc home loan cost more?
Usually, yes. As lender policy, low-doc lending is generally priced above full-doc lending and comes with a lower maximum LVR, so a larger deposit or more equity may be needed. LMI can also apply above 80% of the value. We put the total cost of the low-doc option next to any full-doc option your documents allow, so the difference is in dollars.
How long do I need to have been self-employed?
It depends on the lender. Each sets its own minimum for how long your ABN has been active and how long you have traded in the same line of work. Tell us how long you have been trading, and we will narrow the panel to lenders whose minimum you meet.
Can I move from a low-doc loan to a full-doc loan later?
Often, yes, once you have lodged returns that show the income. Refinancing then works like any other refinance. A new lender assesses your full position, and switching carries its own costs, such as discharge and application fees. We compare the total cost of staying and switching before you decide.
Why work with Settled With Joe to arrange your low-doc home loan?
Because the documents you hold decide which lenders will look at your file, and one conversation tells you which ones they are. Most people who come to us for low-doc lending are sole traders, contractors and company directors with something dated in front of them: a home under contract, a fixed rate ending, or returns still with the accountant. These situations are routine for us, and nobody here will judge them. What matters is income your documents can verify, a deposit or equity that suits low-doc policy, and repayments that fit. Our panel covers 90+ bank, non-bank, and specialist lenders, so a full-doc file can go to a bank at a sharper rate, and low-doc paperwork still has somewhere to go. We are based in Sydney and work with borrowers Australia-wide. Joseph Farhat and his team will give you an early, honest read on what is achievable.
Do you give financial advice?
No. We do not guide you on your finances, nor give financial advice. We focus on outcomes and solutions of presenting your unique scenario to the right lender so you can access funding in a timely and compliant manner.
Do you help with low-doc home loans outside Sydney?
Yes. Settled With Joe is based in Sydney and arranges low-doc home loans Australia-wide, covering both metro and regional areas. We work with clients in Sydney, Melbourne, Brisbane, Perth, Adelaide, and Canberra, as well as regional areas including Newcastle, Wollongong, Geelong, Gold Coast, Sunshine Coast, and Toowoomba. Some low-doc lenders limit the locations or property types they accept, so the panel narrows by postcode as well as by documents. Joseph Farhat and his team will find the lenders that fit your property and your paperwork.
