Basic Home Loans
Low rates loan with basic features for low risk Borrowers purchasing or refinancing Residential property.
Complete our Express Form for a Rate Quote
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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
- Low Deposit Option to 98% LVR for purchases only
- Vacant Land to 85% LVR or Construction to 95% 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
$5,000,000 up to 80% LVR. (case by case above)
$3,000,000 from 80% 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 80% 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