What is full doc and alt doc?

When you apply for a home loan, you need to show your lender documentation to prove your income. Full doc, alt doc and low doc home loans refer to the type of income verification you use:

Full doc is when you have access to fully verified forms of evidence to prove your income (tax returns, notice of assessments, income statements).

Alt doc (also called low doc) is an alternative way to prove your income when you don’t have access to fully verified means. At Bluestone we have a number of flexible alt doc options for borrowers including business activity statements, business bank statements and/or accountants letters.

Read more about the differences between full doc, alt doc and low doc home loans here.

Have Questions?

We’re always here to help! Check out our full list of FAQs or get in touch with our team.

How are home loan repayments calculated?

Home loan repayments are typically calculated daily and paid monthly, based on the interest rate for the chosen term for the interest portion of your repayment. For your principal repayment, your initial borrowing rate is divided by the months or fortnights in your loan term. These two amounts are then added and repayed on your chosen schedule. Bluestone’s repayment calculator is only a guide, particularly because we assume your interest rate will remain fixed through the whole term of the mortgage, which is often not the case in Australia.

What other tools do you have?

We have a range of resources to help you understand your mortgages options in our insights section. We’re also working on a few more useful calculators for you in the background.

Does your repayment calculator consider any impact from an offest account? What about lump sum repayments?

At the moment, no, our calculator does not consider the impact of an offset account on interest accrued. So if you have an offset, assume you’ll be a little bit quicker to pay off your mortgage than the projections we share in the graph. For accurate repayment insights that consider strategies like paying lump sums and utilising an offset account, we recommend speaking to your broker or seeking professional financial advice.