30 Jan, 2020

A guide to low and no doc loans

No financials? No worries!

Commercial customers who meet a certain set of lender criteria. can qualify for a low or no doc loan. The result? A much easier and quicker application process for the client.

Qualifying Criteria

Lenders will set qualifying parameters for their low doc policies based on the following: 

  • ABN and GST registration length

  • Property ownership

  • Type and age of asset

  • Confirmable credit available

  • Amount of finance

Types of Applications

All lenders have different policies based on qualifying criteria (as referenced above), in addition to having different types of low doc products - these are:

  • No Doc: No financial documents are required by the lender to assess the deal

  • Low Doc: Some financial documents are required by the lender, but not full financials

  • Self Dec: Income figures are self-declared to the lender, and the deal must service based on these figures


Let's take a look at a probable no/low doc scenario.

Client is the sole-director of a carpentry business that has been operational for over 2 years. The client also owns property in their own name.

The client’s accountant is still preparing their financials, and the ABN has only just been registered for GST.

The client wants to purchase a 3 year old Toyota Hilux from a dealership for $35,000, and has no deposit to put in.


This is one of many scenarios that has the potential to qualify for a low or no doc loan, with multiple lenders!

Are you a Nodifi partner wanting further assistance with low or no doc loans? Not a problem! Get in touch with your dedicated BDM today.

Apply Today

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