Do you want to get a home but are not eligible for traditional home loans? If so you might want to consider low doc home loans. This is short for low document home loan. All you have to do is to write an application along with a self certification instead of the proof of income. Self certification is typically a document signed by you declaring that you are eligible to repay your loans. It is particularly suitable to those who do not have a regular income but have been in a business.

To qualify you need to have been involved in a business for two years but it can vary from institution to institution. However because of the higher risks involved financial institutes demand for a larger deposit (around 80% of the property value) and charge a higher rate of interest. But if you cannot get a traditional home loan because you do not have a regular flow of income then low doc home loans are just meant for you.

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