Low Doc Home Loan - Xplore - Challenger 3 yr fixed Low Doc Up to 80% LVR

Comparison Rate	7.45%
Amount	$200,000
Term	30 years
Initial Payment Est.	$1,587.71
Monthly Payment Est.	$1,328.55
Total Amount Paid Est.	$488,064
Establishment Fee	$300.00

8.85%

Target Market
The LoDoc Home Loan is designed for borrowers who do not wish to provide extensive financial statements or tax returns. These loans are predominantly for investment or business purposes. ,
Available to applicants who are: ,
self-employed or full-time investors, and have been in business for a minimum of 2 years. Applicants must disclose an ABN which has been registered for a minimum of 2 years. Where the applicants declare a net profit of $75,000 or more, the ABN must be registered for GST purposes. ,
citizens or permanent residents of Australia. ,
Family Trusts, Property Holding and Trading Companies, that have been in business for a minimum of 2 years. ,
(Please note: An applicant who derive income as a salaried employee is not deemed to be self-employed.

Acceptable Income
No supporting documentation required for self-employed applicant/s ,
Stated income and A&L statement required ,
Co-borrowers may be PAYG and must provide evidence of income. The number of PAYG applicants must not exceed the number of self-employed applicants. ,
Serviceability: Acceptable loans must have a positive Cash Flow test and above) calculated on the Lender’s income calculation Work sheet. ,
Declaration of Purpose (non-Code loans only)

Home Loan Loan Term
30 years

Home Loan Loan Size
Minimum loan size $30K ,
Maximum loan size $1M

Home Loan Repayment Type
Principal and Interest. ,
Interest Only terms from one to ten (1-10) years

Repayment Options
Weekly, fortnightly, monthly or twice monthly.

Extra Repayments
Additional repayments can be made at any time on variable facility (not available on fixed-rate facility).

Split Loan Facility
Maximum of 4 splits allowed at no extra cost. ,
Borrowers can have their loan accounts split a maximum of four ways with separate statements issued for each loan split. Minimum split size is $20k

Offset
Additional repayments can be made at any time on all variable rate facilities, therefore reducing the interest charged to the loan.

Redraw Facility
Unlimited free redraws to nominated bank account. ,
No minimum redraw amount. ,
Funds are transferred to borrower’s nominated bank account via direct credit within two business days. ,
Can be arranged using the Internet or telephone transactional services. ,
Direct Card for ATM and EFTPOS transaction

LVR for Low Doc Home Loan - Xplore - Challenger 3 yr fixed Low Doc Up to 80% LVR

Owner Occupied Maximum LVR 80% ,
Investment Maximum LVR 80% ,
Construction Maximum LVR 80% ,
Refinancing Maximum LVR 80% ,
Vacant Land Maximum LVR 80% ,
Debt consolidation Maximum LVR 80% ,
Note Loan amounts subject to LVR and property location refer to Lender

Fees for Low Doc Home Loan - Xplore - Challenger 3 yr fixed Low Doc Up to 80% LVR

Commitment Deposit $300 per property (not refundable, displayed as Establishment Fee). ,
If loan application does not proceed to settlement for any reason (including applications that are cancelled/withdrawn) all processing costs will be deducted from deposit. Any costs over and above the $300 are payable by the applicants) plus ,
Standard Valuation fee: Indicative $275.00 ,
Standard Legal documentation fee : Indicative $434.50 (Displayed as Mortgage Prep Fee) ,
No Account keeping fees ,
No Statement fees ,
Other fees may apply for some transactions. ,
Rate lock fee $395 for fixed rate loans ,
If the loan is fully repaid or discharged within the first five years of the loan period, an early repayment fee of approximately 2.5 times the notional monthly repayments will apply (UCCC regulated loans only). Early repayment or discharge of non-code loans incurs higher penalties. Break costs apply for an early discharge during a fixed rate period. A deferred LMI fee is also payable