What is the difference between a full doc and a low doc home loan?

A full doc home loan is a type of loan that requires the borrower to provide full documentation of their financial situation and income. This includes providing pay slips, tax returns, and other financial documents that prove the borrower's ability to repay the loan. A low doc home loan is a type of loan that does not require the borrower to provide full documentation of their financial situation and income. This type of loan is often used by self-employed borrowers, who may not have the same level of paperwork as those who are employed by a company. Low doc loans usually require the borrower to provide some form of proof of income, such as an accountant's letter, a bank statement, or a tax return. The main difference between a full doc and a low doc home loan is the amount of paperwork and documentation required. Full doc loans require more paperwork and documentation, while low doc loans require less. Low doc loans also tend to have higher interest rates than full doc loans, as the lender is taking on more risk by not having full documentation of the borrower's financial situation. If you're looking to compare home loan rates, check out Goodrate on https://goodrate.com.au/home-loan to see current interest rate offers.