Rural Loans in Full Doc & Low Doc
Securing rural finance requires the expertise of a specialist team. Our consultants are able to package your loan application and present it to the most appropriate lender.
Commercial lenders will evaluate your application based on a number of criteria and we are able to assist you in guiding you through this sometimes complicated process.
|Applicant type||All types|
|Location & Acceptable Securities||Major and well regarded rural areas.
Dairy farms, beef / cattle or sheep, grazing, mixed cropping – other on application.
|Income: required proofs||Full Doc – 2 years Tax Returns and Assessment Notices
Lite Doc – Borrowers income declaration. Accountants letter. Need to demonstrate you can service overall debt position (ie by PAYG Certificate; BAS statements etc etc).
|Loan amounts||Full Doc from $100,000 > 10 million.
Low Doc from $100,000 > 1 million.
|Purpose||Purchase, refinance, debt consolidation, working capital and farm improvements, Family Farm Transfers, Purchase additional water rights|
|LVR||Full Doc Loans up to *60% LVR
*Irrigated farm or Acceptable Average rainfall above 585 mm per annum according to the medium rainfall for the district as recorded by the Bureau of Meteorology.
Lite Doc > 50% LVR.
|Coded, non-coded, or either||Non coded|
|Credit related issues||Considered at higher rates|
|Variable, fixed or both||Both|
|P &I, I/O, or both||Both|
|Loan Term||Full Doc > 15 years
Lite Doc > 15 years
No Doc > 1 – 5 years
|Acceptance Fee||From 0.5% to 1% of loan (depending on lender)|
|Application Fee||1% of Loan|
|Mortgage Insurance||No Mortgage Insurance Payable|
|Lenders Legals||At Cost|