Low Doc Commercial Property Loans Overview
What do Low Doc commercial lenders look for? With Low Doc Commercial property loans, as well as sound commercial security, lenders need to know the borrower can afford to pay the loan. For this reason they focus on the income, through the
Last BAS Return looking at how much sales have been for the last quarter. or
Last 4 BAS Returns they look at how much sales have been for the last year. or
Accountants Declaration to verify income.
Loan size Minimum loan size is $300,000. Most Low Doc commercial finance is done up to $1m. However there is no maximum loan size.
Term From 1 year to 30 years. For Low Doc commercial property loans the lenders are looking at the income streams. Normally owner occupied commercial loans are done for a longer term.
- 80% up to $1m
- 75% up to $3m
- 70% up to $5m
- 65% unlimited, and assessed on its merits
Indicative Low Doc Commercial Rates As a guide, for standard low doc commercial properties, variable rates normally sit between 4.5% to 6.5%.