Residential Loans - Limited or No Savings/Equity
Loans not requiring savings or existing equity in property
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No Savings 90%
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No Savings 100%
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No Savings 106%
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Purpose
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|
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Owner Occupier
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Yes
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Yes
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Yes
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Investment
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Yes
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No
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Yes
|
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Purchase
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Yes
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Yes
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Yes
|
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Refinance
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No
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No
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No
|
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Construction
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Yes
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Yes
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No
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Vacant Land
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No
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No
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No
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Business/equity release
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No
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No
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No
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Lending Criteria
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|
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Max. Loan Value
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$500,000
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$500,000
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$750,000
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Max. Loan % (LVR)
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90%
|
100%
|
106%
|
|
Acceptable Security
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Residential or rural residential
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Residential or rural residential
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Metro and major residential in NSW, VIC, QLD
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|
Mortgage Insurance
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Borrower Paid
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Borrower paid
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No mortgage insurance
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Savings/equity
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Gift and FHOG accepted
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Nil
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Nil
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Income History
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|
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Employees
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Current job min. 3 mths; non-probationary; payslips + one other
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6 mths with current employer; 2 yrs continuous
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6 mths with current employer; 2 yrs in same/similar industry
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Self-employed
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2 years financials
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2 years certified tax returns
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Professionals Only >$150K p.a.
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Credit History
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|
|
|
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Baycorp report
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Clear
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Clear
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Clear
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Repayment
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|
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Term Maximum
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30 yrs
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30 yrs
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15-30 yrs
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Principle & Interest
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Yes
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Yes
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Yes
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Interest Only
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No
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No
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No
|
.
Contact Us
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