Low Deposit Home Loans
A traditional home loan with competitive interest rates to suit first home buyers and owner occupiers Standard variable loans are Australia’s most popular type of home loan. The interest rate varies throughout the loan term. These loans generally offer excellent flexibility, low fees and often offer great features such as an offset facility, redraw facility, no limits on additional repayments and in most cases, no early pay-out penalties.
Advantages:
Features:
Must have CLEAN credit and stability in employment (12 months in same job or 2 years in same industry and have a Positive Asset Position excluding Contents & Superannuation (Assessor will take into account customer's age in comparison with their asset position and level of income)
Applicant type |
Individuals, Self Employed, Companies & Trusts |
Employment requirements |
P.A.Y.G. must be full-time or part-time permanent. If Self-Employed, two years. |
Income: required proofs |
P.A.Y.G. Pay slips, group certificates or employer letter. Self-employed, two years tax returns. |
Loan amounts maximum |
$500,000 > 95% LVR Non Genuine savings or 95% + Lenders mortgage Insurance to $750,000 For Genuine savings |
Purpose |
Owner-Occupied, Purchase, Refinance, Investment, Vacant Land > 95% LVR) |
LVR |
up to 95% Non genuine Savings |
Coded, non-coded, or either |
Either |
Credit related issues |
CLEAR. Must have stability in employment |
Variable, fixed or both |
Both |
P&I, I/O, or both |
P&I or Interest Only up to 5 years |
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