Low Doc Home Loan
Low Doc Home Loans are a flexible financing solution for the self-employed who have income and assets, but may not have the usual paperwork like financial statements or tax returns ready at the time of application.
Our Low Doc option means you don't have to provide standard income verification documents when applying for a loan. You just have to sign a Borrower's Income Declaration.
Features and benefits
* Requires mortgage insurance if amount borrowed is more than 60% of the valuation of the security property.
Interest rates
Home lending interest rates | Loan amount/ Fixed rate term | Lending Reference Rate | Lending Reference Rates (%p.a.) | Margin (%p.a.) | Annual Percentage Rate (%p.a.) | Comparison Rate (%p.a.) |
|---|
Owner Occupied | Investment |
|---|
Low Doc Standard Variable Rate Home Loan | | Standard Variable Housing Rate | Standard Variable Investment Housing Rate | 9.65 | 0.00 | 9.65 | 9.81 |
| Low Doc Line of Credit | | Come-n-Go Line of Credit Rate | Investment Come-n-Go Line of Credit Rate | 9.80 | 0.00 | 9.80 | n/a |
Low Doc Fixed Rate Home Loan | 1 year | 1 Year Fixed Rate | 1 year fixed investment rate | 9.44 | 0.00 | 9.44 | 9.79 |
| 2 years | 2 Year Fixed Rate | 2 year fixed investment rate | 9.39 | 0.00 | 9.39 | 9.75 |
| 3 years | 3 Year Fixed Rate | 3 year fixed investment rate | 9.39 | 0.00 | 9.39 | 9.73 |
| 4 years | 4 Year Fixed Rate | 4 year fixed investment rate | 9.39 | 0.00 | 9.39 | 9.71 |
| 5 years | 5 Year Fixed Rate | 5 Year Fixed Investment Rate | 9.39 | 0.00 | 9.39 | 9.69 |
*At conclusion of fixed rate period, loan converts to relevant Standard Variable housing rate.
Fees and charges
*Fee savings:
You can nominate one of your Reverse Charges AccountsTM to be free of monthly maintenance fees.
+includes 40 free Bank of Queensland ATM withdrawals, cheques written and direct debit transactions per month. Additional transaction $0.60 each.
Additional information
1 Standard Variable rate applies during construction. Interest rates quoted are indicative only, and are subject to change without notice. Fixed interest rates may vary between application and drawdown of the loan.
Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. These rates are for secured loans only.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Comparison rates calculated for a wider range of loan amounts and terms are available on the Bank of Queensland Home Loan Comparison Rate Schedule (PDF 16kb). A Comparison Rate Schedule is also available from any Bank of Queensland branch.
To apply for a home loan, complete the application form (PDF 409kb), take it to one of our convenient locations and an appointment with one our lending staff will be arranged for you to discuss the various loans options available. Look at the information we need from you. Call us on 1300 55 72 72 with any queries.
Important information
Please view the terms and conditions listed below on the Terms and Conditions page:
- Personal Banking Guide to Fees and Charges
- Personal Lending Supplementary Terms and Conditions
Valuation fees are payable. Government fees and charges apply. Other fees and charges are payable. Normal credit assessment criteria apply. Full terms and conditions are available at any branch of Bank of Queensland. Products issued by Bank of Queensland Limited ABN 32 009 656 740 AFSL 244616. This website contains general advice. This advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of any advice before acting on it. You should obtain and consider the relevant Product Disclosure Statement (PDS), terms and conditions, Financial Services Guide and Guide to Fees and Charges for the product before making any decision about whether to acquire or continue to hold it. You can obtain a copy of those documents from any Bank of Queensland branch.