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Low Doc Home Loan

A home loan for self-employed and business owners with uneven cash flow
  • Ideal for self-employed people or small business owners who don't have the required proof of PAYG income to apply for a standard home loan
  • You can apply using simple documentation such as your last 12 months of Business Activity Statements (BAS)
  • Choose a Fixed Interest Rate, a Variable Interest Rate or a combination of both for your Low Doc Home Loan

BankSA home loan expert will contact you at your preferred time

Flexible Low Doc home loan

  • A flexible home loan for self-employed people and small business owners with fluctuating income

Easy to apply

Choice of fixed or variable interest rate

Choice of loan term & repayments

  • Choice of term up to 30 years for principal and interest repayments or up to 15 years for interest based repayments

Property, vacant land and building

  • Available for purchase of property and vacant land
  • The Variable Interest Rate portion of a Low Doc Home Loan can be used for building

Loan amount

  • Apply to borrow up to 80% of the value of the secured property for variable or fixed interest rate Low Doc Home Loans. Lender's Mortgage Insurance is required if you borrow more than 60% of the value of the secured property as determined by us.

Great features

Features include redraw, interest offset, rate lock, Deposit Protect Bond and more!

Fees

Establishment fee

$7501

Monthly administration fee

$12

Other fees and changes apply. See a complete list of fees for loan accounts

Interest rates

Variable Rate

Annual rate

Comparison rate2  (secured loan)

% p.a.

% p.a.

Fixed Rate5

Annual rate

Comparison rate2 (secured loan)

1 year Fixed

% p.a.

% p.a.

3 years Fixed

% p.a.

% p.a.

5 years Fixed

% p.a.

% p.a.

Repayment options for your Low Doc Home Loan

Frequency

Choose either:

  • Principal and interest repayments for up to 30 years,
    or
  • Interest based repayments for up to 15 years

Weekly

Fortnightly

Monthly

Loans with Principal and interest repayments

yes

yes

yes

Loans with Interest based repayments

no

no

yes

Learn more:

Additional repayments

Automatic repayments

Set up convenient automatic repayments from your nominated account

Interest in advance

On Fixed Interest Rate investment loans, choose to pay interest in advance

Simplified documents to apply

  • Your ABN/ACN
  • Last 12 months Business Activity Statements (BAS)
  • Loan statements for past 6 months for loans that are being refinanced with a Low Doc Home Loan
  • Latest account statements on any other debts or loans that are not being refinanced with your Low Doc Home Loan

Consider splitting your loan

Lock in a fixed rate

  • Rate lock lets you secure an advertised Fixed Interest Rate for up to 3 months before your Low Doc Home Loan settles
  • Available on the Fixed Interest Rate portion of a Low Doc Home Loan

100% interest offset or partial interest offset

Redraw

  • Access extra payments by requesting a redraw4 on the Variable Interest Rate portion of your Low Doc Home Loan
  • For fixed interest rate loans, redraw is only available for loans fixed on or after 30 November 2009 and can only redraw up to a maximum of $10,000 each year or break costs will apply
  • You could save on redraw fees by making your request over the phone or via Internet Banking

Deposit Protect Bond

  • Use a Deposit Protect Bond instead of paying a cash deposit immediately, and keep earning interest on your deposit money right up until settlement
  • Also ideal when using equity in an existing property to finance your purchase

Loan Amount

  • Apply to borrow up to 80% of the value of the secured property for variable or fixed interest rate Low Doc Home Loans. Lender's Mortgage Insurance is required if you borrow more than 60% of the value of the secured property as determined by us.

Increase your loan amount

  • Apply online through Internet Banking, call us on 1800 804 411 or visit any BankSA branch

Enquire online

Enquire now and a BankSA business finance specialist will call at your preferred time

Call us

1800 804 411 to talk with a BankSA business finance specialist, say "New Mortgage" when prompted

Visit a branch

Find your nearest branch

What you'll need

  • Your ABN/ACN
  • Last 12 months Business Activity Statements (BAS)
  • Loan statements for past 6 months for loans that are being refinanced with a Low Doc Home Loan
  • Latest account statements on any other debts or loans that are not being refinanced with your Low Doc Home Loan
  • Where there are combined self-employed and PAYG applicants the PAYG applicant(s) must have income and employment fully verified in line with standard policy requirements
  •  Further information you need to provide to become a customer

How to apply

Important information

Conditions, fees and credit criteria apply. 

Before making a decision, it's best to read the terms and conditions: 

Please read these documents and keep a copy. You can request a paper copy at a branch

The advice on our website is prepared without knowing your personal financial circumstances. Before you act on this or any advice, please consider if it’s right for you. If you need help, call 1800 804 411.

1 Other upfront fees and costs may apply.
2 The comparison rate is based on a loan of $150,000 over a 25 year term. WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
3 Additional payments of $10,000 each year can be made for Fixed Rate loans before break costs become payable.
4 Redraw requests are subject to our approval. Fees apply. For fixed rate loans, redraw is only available for loans fixed on or after 30 November 2009 up to a maximum of $10,000 or break costs may apply.
5 Where a fixed rate is selected, after the fixed rate period expires, the interest rate will revert to the relevant Standard Variable rate.