Total Home Loan Loan types: Full Doc
Interest type: Variable interest rate
Loan options: Term loan / 100% offset / Line of Credit (LOC) / VISA. Available for construction
Terms: A simple loan where regular repayments reduce the balance of the loan. An interest only period of 10 years is available. Maximum term of the loan is 30 years
Loan size: Minimum: $50,000 Maximum: $2M (up to 95% inc LMI) Maximum: $1M (95% cap LMI)
Loan purposes: Use the loan to purchase or construct a home or investment property, or to access the equity in a property for any worthwhile personal or investment purpose.
Borrowers: Owner-occupiers or investors. Also individuals, companies or trusts.
Mortgage insurance: Funder pays if LVR 80% and loan amount $750,000 Borrower pays or capitalised to the loan account up to a maximum of 98%
Loan value ratios: Full Doc available up to 95% (term), 95% (LOC) and up to 95% (term) for construction loans
Mortgage Insurance: Funder pays if LVR 80% and loan amount $750,000. Borrower pays or capitalised to the loan account up to a maximum of 98%
Income ratios: A net income test applies
Ongoing fees: No ongoing monthly account keeping or annual line fees. Unlimited free Phone (IVR), internet, EFTPOS, biller payments and cheques per month. Fee free on ATMs up to 5 transactions per month – additional ATM transactions $1.20 each. Over the counter transactions incur a $2 fee
Repayment options: Salary crediting to the offset account or direct debit from pre-nominated bank account (does not apply to construction loans)
Redraw: The option is available to pay off loans more quickly plus redraw up to the loan balance limit for the term of the loan.
Free splits: Choose to split loans into a fixed portion (post-settlement) from $10,000 and a variable portion (pre-settlement)
Selection of interest rate:
Subject to approval, borrowers with a variable interest rate loan can elect to move to a fixed interest rate loan.
Offset accounts will not apply during fixed term
Portability available on all loans, subject to approval
Fixed rates (Not available for Term Loan when a 95% cap LMI selected)
Fixed rates: (Not available for Term Loan when a 95% cap LMI selected)
Fixed options: 1 to 5 years
Additional repayments: The option to make additional repayments up to $10,000 per year
Availability: Fixed rates are only available post settlement
Redraw: Redraw only available on fixed rates after fixed period has expired
Repayment options: Flexible monthly, fortnightly and weekly repayment options
Other: Offset and construction not available
All interest rates, fees, charges, terms and conditions quoted are indicative only and subject to change without notice.