One Doc Home Loan
One Doc Home Loan is a property-secured home loan where the borrower provides a single verification document — typically an accountant's letter or a recent BAS — instead of full financial statements and tax returns. It's designed for sole traders, company directors, and other self-employed Australians who have strong income but limited traditional paperwork.
Why It Matters
Many self-employed borrowers earn well but struggle to produce two years of tax returns or full financials on demand. A One Doc Home Loan removes that barrier by accepting a single document as proof of income, making homeownership accessible without waiting for a full tax cycle. It sits alongside the Alt Doc Home Loan and Low Doc Home Loan as part of the alternative lending landscape, and differs from the low doc approach used in asset finance — which covers vehicles and equipment rather than property.
How It Works
- You apply for a home loan through a lender or broker offering one-doc products.
- You provide a single income verification document — usually an accountant's income declaration or your most recent BAS.
- The lender assesses the document alongside standard credit assessment checks and a property valuation.
- If servicing is met and the LVR is within policy, the loan proceeds to pre-approval.
- Settlement proceeds as with any standard home loan.
Common Use Cases
- Sole traders with a qualified accountant but incomplete tax returns
- ABN holders who have recently started a business and lack two years of financials
- Contractors and freelancers with variable income documented by BAS
- Business owners who reinvest profits and show low taxable net income on returns
- Borrowers looking to refinance existing property under time pressure
Related Switchboard Resources
For guidance on income declarations and BAS obligations, visit ato.gov.au.