Suitable borrowers:Prime and Near Prime: |
|
|---|---|
Suitable borrowers:Prime and Near Prime: |
|
Repayment types |
|
Interest rate types |
|
Loan size |
|
Maximum LVR |
|
Maximum loan term |
|
Repayment method |
|
Acceptable security:Category 1,2 and 3 Postcodes: |
|
Online Access |
|
Tailored for you
We are leading the way in challenging the status quo to establish a real alternative to traditional lending.
Discover our effective and innovative home loan solutions tailored for you.
Alt Doc Loan Application Documents Checklist
Brighten Boss® Prime
Alt Doc Home LoanABN & GST
- Active ABN for at least 2 years; AND
- GST registration for at least 12 months (if Turnover >$75,000)
Income Documentation
- Borrower Income Declaration; AND
One of the following:
- Brighten Template accountant’s letter; OR
- Most recent 6 months BAS; OR
- Most recent 3 months business bank statements.
Cash Out
- Unlimited
Credit History
- Paid defaults up to $500 may be considered
- Max 1 month arrears in last 6 months accepted
Brighten Boss®
Alt Doc Home LoanABN & GST
- Active ABN for at least 1 year; AND
- GST registration for at least 1 day (if Turnover >$75,000)
Income Documentation
- Borrower Income Declaration; AND
One of the following:
- Brighten Template accountant’s letter; OR
- Most recent 6 months BAS; OR
- Most recent 3 months business bank statements.
Debt Consolidation
- Unlimited debt consolidation including payout of ATO debts
Cash Out
- Unlimited
- Business purpose accepted^
^Security must be an investment property and not the only significant asset
Credit History
- Unlimited defaults up to $1,000 accepted (paid or unpaid)
- Unlimited paid defaults > $1,000, registered > 24 months accepted
- Arrears less than 2 months in last 6 months accepted
Case Studies
FAQs
What is an Alt Doc home loan?
An Alt Doc loan is a type of loan that allows self-employed borrowers to use alternative documentation to verify their income.
The terms ‘Alt Doc’ and ‘Low Doc’ are sometimes used interchangeably, though ‘Low Doc’ or low documentation may have different interpretations depending on the lender.
What forms of income documentation are acceptable?
At Brighten, we accept one of the following forms of income documentation: an Accountant’s Letter, most recent 6 months Business Activity Statements (BAS), or most recent 3 months business bank statements.
What are the ABN & GST requirements?
Prime: Active ABN for at least 2 years, and GST registration for at least 12 months (if turnover >$75,000)
Near Prime: Active ABN for at least 1 year, and GST registration for at least 1 day (if turnover >$75,000)
Do you accept Cash Out and Debt Consolidation?
Yes we do.
Prime: Unlimited Cash out; Up to 5 unsecured debts (<3 credit cards, ATO debts not accepted)
Near Prime: Unlimited Cash out; Unlimited number of debts including payout of ATO debts
What types of security are acceptable?
We accept houses, townhouses, and apartment units larger than 50 sqm as security. Under our Prime product, we accept properties located in category 1 and 2 locations. Additionally, we accept properties in category 3 locations under our Near Prime product.
Do you offer interest only loans?
Yes we do, up to a maximum of 5 years. The loan must revert to Principal and Interest repayments for the remaining term.
What is the minimum and maximum loan size?
Minimum $50,000; Maximum $15,000,000
How much can I borrow?
The maximum amount you can borrow for a home loan depends on various factors, such as your income, liabilities, credit history, and the LVR.
Brighten’s online borrowing calculator offers an estimate based on your current financial situation, helping you understand how much you could potentially borrow.
Use our calculators to find out whether your numbers add up
Why Choose Brighten?
Superior Product Offering
Comprehensive and competitive Full Doc, Alt Doc and Construction loans, available to Prime, Near Prime, Expat and Non-Resident buyers.
Fast turnaround times
Fast SLA supported by our experienced team and a proprietary cloud-based loan origination platform.
Diverse and Resilient Funding
Well-established warehouse-funding arrangements with multiple Top Tier Banks, three public RMBS programmes and multiple wholesale credit funds to provide further funding diversification.
Better Service Proposition
Our experienced team are available when you need them to help you navigate your home loan journey.
Trusted Partner
Award-winning non-bank lender with an extensive broker and aggregator network across Australia
Environmental, Social, and Governance
Good governance, social responsibility and sustainability are key pillars of our culture.
*Available for new Brighten Boss Prime loans (OO P&I) up to $2,5m and 70% LVR.
Fees, charges and Terms and Conditions apply. # The comparison rate is based on a secured loan of $150,000 and a term of 25 years.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate