St.George Low Doc Home Loan

Rates and Fees verified correct on December 8th, 2016

How to qualify for a home loan when you're self employed

Home loans will generally have a very strict application process and criteria that will need to be met before you can be approved. Most people will be able to meet these requirements while others will not be able to.

If you have a bad credit rating or insufficient income, then you may not be able to be accepted for home loans. However, many people will not be accepted for traditional loans because they are unable to prove their income.

Low doc home loans have been specifically designed for people that are not able to prove their income. The St.George Low Doc home loan is one of these low doc home loans.

Interest Rate Max Insured LVR Max LVR
Variable Rate (Owner Occupier, P&I)
5.45% p.a.
Comparison Rate
5.65% p.a.
80% 60%
Variable Rate (Owner Occupier, IO)
5.49% p.a.
Comparison Rate
5.69% p.a.
80% 60%
Variable Rate (Investors, P&I)
5.7% p.a.
Comparison Rate
5.90% p.a.
80% 60%
Variable Rate (Investors, IO)
5.74% p.a.
Comparison Rate
5.94% p.a.
80% 60%
1 Year Fixed (Owner Occupier)
4.54% p.a.
Comparison Rate
5.59% p.a.
80% 60%
1 Year Fixed (Investors)
4.79% p.a.
Comparison Rate
5.84% p.a.
80% 60%
3 Year Fixed (Owner Occupier)
4.24% p.a.
Comparison Rate
5.35% p.a.
80% 60%
3 Year Fixed (Investors)
4.44% p.a.
Comparison Rate
5.58% p.a.
80% 60%
5 Year Fixed (Owner Occupier)
4.54% p.a.
Comparison Rate
5.29% p.a.
80% 60%
5 Years Fixed (Investors)
4.74% p.a.
Comparison Rate
5.51% p.a.
80% 60%
Product NameSt.George Low Doc Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$50,000
Maximum Loan Amount$1,500,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR60%
Maximum Insured LVR80%
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditYes
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$750
Ongoing Fees$12 monthly ($144 p.a.)

Pros

  • Excellent option for self-employed borrowers who don't have full financial documents
  • You can link a 100% offset account to your mortgage
  • You can make any number of additional payments and withdraw those funds using the redraw facility
  • You can waive the application fee and monthly fees if you choose the Advantage Package (an annual package fee applies)

Cons

  • There is a $750 application fee
  • There is a $12 monthly service fee
  • Minimum loan size is $50000
  • Maximum loan size is limited to 80% of the property value

Who are low doc home loans suited to?

Low doc home loans such as the St.George Low Doc home loan are designed for people that are unable to prove their income. People who are unable to prove their income will usually be people who are self employed and want to borrow between $50,000 and $1,500,000.

Features of the St.George Low Doc Home Loan

The St.George Low Doc home loan comes with a variety of features, including:

  • Flexible repayment options. When you are paying off the St.George Low Doc home loan you will be able to choose the way you pay off the loan. You can choose between weekly, fortnightly or monthly repayments. This feature will allow you to tailor the home loan to how you get paid.
  • Interest rate. When you apply for the St.George Low Doc home loan you will be able to choose between a fixed and variable interest rate.
  • Interest-only option. While you are paying off the St.George Low Doc home loan you may find that you want to reduce the amount you are repaying for a while. The St.George Low Doc home loan allows you to pay only the interest portion of the repayments for a period of time.
  • Redraw facility. The St.George Low Doc home loan allows you to make additional repayments whenever you would like, for no extra charge. If you do decide to make extra repayments you will be paying off your loan faster and reducing the amount of interest that you will have to pay. Furthermore, the redraw facility that is available with the St.George Low Doc home loan will allow you to withdraw these funds when needed.
  • Interest offset. The St.George Low Doc home loan also comes with an interest offset facility. The St.George Low Doc home loan interest offset facility will enable you to save money on your repayments by offsetting your savings against the loan amount when interest is paid. The more savings you have, the less interest that you will have to pay and the more money you will save.

Know how much you want to borrow? Use our calculator to find out what your repayments will be

Applying for the St.George low doc home loan

The St.George Low Doc home loan helps self employed people get a home loan when they are unable to prove their income or earning potential. The St.George Low Doc home loan allows you to choose between a fixed or variable rate loan and will come with many features.

Some of the features of the St.George Low Doc home loan are the redraw facility and the offset accounts. If used correctly, both these features will save you money. If you would like to know more about the St.George low doc home loan then follow this secure link through to the St.George website today.


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St.George Low Doc Home Loan Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 17 June 2015 at 10:31.

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4 Responses to St.George Low Doc Home Loan

  1. Default Gravatar
    Rach | June 5, 2016

    How much of a deposit do you need when borrowing $450,000 on a low doc home loan?

    • Staff
      Marc | June 6, 2016

      Hi Rach,
      thanks for the question.

      This loan requires a minimum deposit of at least 20% of the property purchase price, which on a $450,000 would be approximately $90,000.

      I hope this helps,
      Marc.

  2. Default Gravatar
    Tony | May 4, 2016

    What documentation do you need for the St.George Low Doc Home Loan?

    • Staff
      Marc | May 5, 2016

      Hi Tony,
      thanks for the question.

      St.George requires:

      - Your ABN/ACN
      - The last 12 month’s BAS
      - If refinancing, the last 6 months of loan statements
      - The latest statements on any other debts or loans you have

      I hope this helps,
      Marc.

St.George Low Doc Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $750 / $12

  • Max LVR

    60%

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