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Basic Home Loans2023-07-21T09:49:00+10:00

Basic Home Loans

Low rates loan with basic features for low risk Borrowers purchasing or refinancing Residential property.

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Basic Home Loans

Basic home loans are essentially a “no-frills” home loan that doesn’t offer any additional bells and whistles such as offset accounts.

What’s more if you require a home loan without an offset account to purchase a home or investment property you deserve a sharp rate with our Basic Home Loans.

Available to prime applicants that have been in the same job for at least 6 months and similar industry for 2 years. Available to purchase or refinance a residential property.

  • Suitable for Purchase, refinance of owner-occupied or investment Residential Dwelling on one title
  • Vacant Land or Construction to 90% LVR
  • Principal and Interest Only
  • Credit History – no defaults and minimum credit score 600 and above
  • Debt Consolidation (maximum 4 debts)
  • Cash out limited to Quotes etc (must be justified)

Maximum Loan Amount

$2,000,000 up to 80% LVR.

$1,500,000 up to 90% LVR.

$1,150,000 up to 95% LVR.

Acceptable Securities

  • Residential & Rural Residential securities in Cat 1 > 3 with a max land size of 2.2 Hectares
  • High Density to 70% LVR
  • Freehold residential dwellings of standard construction
  • Living area from 50 m2

Income documentation for home loans

  • (PAYG) Last 2 pay slips plus one of the following: Letter of employment, Tax assessment notice, Latest income statement from MYGOV website or 3 months bank statements
  • Self Employed: Last 2 years of lodged tax returns for both Business and Personals plus Assessment Notices.

Standard Features & Versatility

  • Owner Occupied P&I Only
  • Investment P&I and Interest Only
  • Fixed Rates from 1 to 5 years

Unlimited & no minimum online access

IN

  • Direct Credit
  • Payment Scheduling
  • Direct Salary Credit
  • Electronic Funds Transfer (EFT)
  • BPAY in
  • Employer Allotment

OUT

  • 3rd Direct Debit
  • Payment Scheduling
  • Credit card sweep
  • Electronic Funds Transfer (EFT)
  • BPAY out
  • Inter split transfer

Customer BPAY reference # and the home loan account #’s are the same

Unlimited for variable loans, capped to $20,000 p.a. for fixed rates

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