We recently completed the final stage of our staged process of helping one of our self employed clients upgrade their home for their growing family. The client had started a business that also required more space for the equipment they were using. However, they had not yet had the chance to get their financials in order to secure a loan. The clients had made some great choices and had paid off a large chunk of their loan on their previous home, which meant on sale of that property they had a nice sizeable contribution for their next property.

The first stage for these clients was to secure the next property.  As a result of their hard work in paying down their loan on their previous home, the clients had a wide variety of lo doc lenders that would provide them the funding they required to complete the purchase of the new house.

Yes, lo doc lenders generally have higher rates, fees and charges. However, if you line them up with the rate house prices that have been increasing you will find in many situations paying these extra fees and charges makes sense.   The client secured the property with a lo doc loan and then went to work to get their finances in order.

The final stage was set when the client returned to us with a full set of financials of their growing business. We were able to source a prime lender at a low rate for the client. We refinanced the client from a high rate lo doc loan to a low rate loan.

End result is that the client has been able to secure a property, watch it grow in value, and now enjoy a low rate home loan.

If this sort of scenario looks like you, please CONTACT US as we would love to see how we can help!