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Alt Doc Home Loans

Brighten Boss® – Competitive Alt Doc home loans for Prime and Near Prime self-employed borrowers

Variable rate from

7.24
%

p.a.*

Principal & Interest
7.32
%

p.a.#

Comparison Rate

$0 Risk Fee up to 80%LVR (Prime)

Complimentary Assessment

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Loan purpose:
Owner occupied or investment property:

Purchase

Refinance

Equity Release

Suitable borrowers:
Prime and Near Prime:

Self-employed

Repayment types

Principal and interest

Interest only (up to 5 years)

Interest rate types

Variable rate

Loan size

Min $50,000

Max $2,500,000

Maximum LVR

80%

Maximum loan term

Up to 30 years

Repayment method

Monthly repayments by direct debit

Acceptable security:
Category 1,2 and 3 Postcodes:

Apartments

Townhouses

Houses

Online Access

Through the Brighten Home Loans portal

Alt Doc Loan Application Documents Checklist

Brighten Boss® Prime
Alt Doc Home Loan

ABN & 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
Brighten Boss®
Alt Doc Home Loan

ABN & 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
  • Mortgage Arrears within last 6 months not accepted
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Case Studies

Brighten Boss® Prime

Helping a Restaurant Owner to Refinance and Cash Out for Business Equipment

Mr. T has been in the hospitality industry for many years and operates several successful restaurants. He is looking to refinance his home loan and cash out $150,000 to upgrade the commercial cooking and refrigeration equipment for his restaurants.

Read More
Brighten Boss® Prime

Fast turnaround for Mid-60s self-employed couple to purchase a property with downsizing exit strategy

Mr and Mrs W, a couple in their mid-60s, are in the process of purchasing a property for $1.5 million. They have invested a significant portion of their savings into their own R&D consulting business.

Read More
Brighten Boss®

Paying off ATO debts through refinancing as a self-employed

Mr M has been running his electrician services business for 7 years. He has been making monthly installment payments on his $150k ATO debt, and all of his debts are in good standing. 

Read More
View All 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 $2,500,000

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.

How does it work?

1

Submit Your Application

We process your application and supporting documents, and issue you with a complimentary conditional written approval within 48 hours.

2

Valuation & Income Verification

We will begin our valuation and income verification process after Valuation Fee is settled.

3

Documents Signing

We will issue you the formal loan approval, then we will forward you all the necessary documents you need to sign.

4

Settlement

We finalise your settlement, and your loan is released to you. Congratulations!

Use our calculators to find out whether your numbers add up

How much can I borrow?

Try the Borrowing Power Calculator and find out how much you may be able to borrow.

Get Started

What will my loan repayments be?

Discover an estimate of your loan repayments with our Loan Repayment Calculator.

Get Started

How much Stamp Duty will I pay?

Use the Stamp Duty Calculator, and discover the government charges you’ll have to pay on your loan.

Get Started
More Calculators

Why Choose Brighten?

1

Superior Product Offering

Comprehensive and competitive Full Doc, Alt Doc and Construction loans, available to Prime, Near Prime, Expat and Non-Resident buyers.

2

Fast turnaround times

48-hour SLA supported by our experienced team and a proprietary cloud-based loan origination platform.

3

Diverse and Resilient Funding

Well-established warehouse-funding arrangements with multiple Top Tier Banks, a public RMBS programme and a wholesale credit fund to provide further funding diversification.

4

Better Service Proposition

Our experienced team are available when you need them to help you navigate your home loan journey.

5

Trusted Partner

Award-winning non-bank lender with an extensive broker and aggregator network across Australia

6

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) ≤70%LVR. # 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.

Discover a brighter future
with Brighten

Complimentary Assessment