Non Conforming Full & Lo Doc
Overview
Loans allow you to take advantage of any equity you have in your home by setting a loan limit and giving you access to the funds for whatever you want them for. Most lenders require an interest only repayment based on the outstanding balance.
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Target |
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| Loan Purpose | Loans considered for direct purchase, refinance, debit consolidation and construction being residential and investment. facility Must be regulated by the UCCC (Split loans available up to four(4) accounts to a minimum of 10,000) |
| Loan Features | Split Loans available up to four (4) accounts to a minimum of 10K |
| Loan Products | All facility included line of credit |
| Minimum Loan Size | $50k (Subject to the loan scenario and to the LVR) Double security |
| Maximum Loan size | $2,500,000(Subject to the loan scenario and to the LVR) Single security |
| Loan to Value Ratio | 60 to 90% A Category from $750,000 to $2,500,000 60 to 90 % B Category from $500,000 to $2,500,000 |
| Minimum Loan Terms | Interest only from 1year to 15 years and (P&I thereafter) to 30 yrs Fixed Rates from 1year to 15 years and (P&I thereafter) to 30 yrs |
| Maximum Loan Terms | 30 years Principal & Interest |
| Loan Repayment Frequency | Weekly, twice monthly or monthly, day and date can be nominated |
| Security Type | Residential vacant land and rural residential being occupier \ investment |
| Redraw Available | Yes |
| Split Loan Available | Yes |
| Dynamic Repayment | Yes |
| Additional Repayment | Principal reductions accepted with minimum of $5,000 each time on the principal part if any |
| Loan statements | Issued Half Yearly (But you can ask us when required we will mail them to you charges apply). |
| Documentation Required | Subject to the loan purpose, please call 1300 790 909 for more details |
| Financial Information | Borrowers who can demonstrate means of serviceability |
| Qualifying Interest Rate | Please call our consultant on 1300 790 909 for more details |
| Other Conditions | A. Prime loans Borrowers must demonstrate serviceability with up to date detailed financial statements covering last 12 months + 4 pay slips for (Full doc Loans) B. Lo Doc & Uninsured Borrowers must be self employed or an Investor , has an ABN number and registered for GST and in business for the past 2 years |
