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Lo Doc Home Loan
Interest Rate:
Comparison Rate:
Suitable for self employed or PAYG employees who do not have adequate documentation to verify their real income.
Purpose
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For self-employed and PAYG employees who do not have adequate documentation to verify their income.
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Eligible Borrowers
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Individuals or Companies operating at least 2 years.
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Type of Rate
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Variable only.
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Loan Splits
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Up to 4 splits.
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Loan Size
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$50,000 to $2,500,000
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Term
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30 years. Line of credit: Evergreen.
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Repayment Frequency
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Fortnightly or Monthly
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Re-Draw Facility
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Available
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Internet Access
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Available
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Portability
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Fully portable (conditions apply)
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Application Fee
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$595 non refundable
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Other Costs
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Solicitor Fee: $310 - $350 payable at settlement. Processing & disbursement fees may apply.
Borrower's legal costs, government charges, insurance are payable by the borrower.
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Lenders Mortgage Insurance
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Payable when the loan amount exceeds 60% of the valuation amount.
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Discharge Fee
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$250 per security discharged.
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Deferred Establishment Fee (DEF)
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Dependent upon the funder, but generally,
Year 1 - 1%
Year 2 - 0.75%
Year 3 - 0.75%
Year 4 - 0.25%
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*WARNING: The comparison rate is calculated on a loan of $250,000 over 25 years. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. All loans are subject to the lenders normal terms and conditions. Loan qualification criteria apply. Interest rate quoted is available for all new applications received. The rates are indicative only and subject to change at any time.
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