Line of Credit Home Loan - Choicelend - Equity Plus Full Doc

Comparison Rate	5.73%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,160.80
Total Amount Paid Est.	$418,660
Establishment Fee	$700.00

5.70%

Target Market

Acceptable Income
Casual - 100% Acceptable (2 years in current role + 2 years in the industry) ,
Commissions - 100% Acceptable ( 2 years history) ,
DSS Pension - 100% Acceptable (Must be ongoing permanent pension - not Newstart or Austudy) ,
Dividends - 80% Acceptable (2 years history) ,
Family Allowance - 100% Acceptable (up to 11 years old) ,
Gross Income - 100% Acceptable ,
Permanent Pension - 100% Acceptable ,
Regular Overtime (QBE) - 100% (12 months history) ,
Regular Overtime (Genworth) - 50% Acceptable, excluding applicants employed in essential services such as ambulance, fire, police, nurses etc. (must be verified as ongoing and a condition of employment) ,
Rental Income - 80% Acceptable ,
Second Job - 100% Acceptable (2 years history) ,
Self Employed (Refer to BDM for details)

Home Loan Loan Term
Maximum overall loan term is 30 years.
Maximum IO period of 10 years only applies where the LVR is <85%. Where the LVR is >85% the maximum IO period is 5 years.

Home Loan Loan Size
Minimum: $30K ,
Maximum: $1 Million

Home Loan Repayment Type
Principal & Interest & Interest Only up to 10 yrs.

Repayment Options
Weekly, Fortnightly or Monthly

Extra Repayments
Additional repayments permitted

Split Loan Facility
Available up to 4 splits, including the combination of Performance Plus

Offset
Offset Not Available

Redraw Facility
Redraw only Available (redraw fee $45 per manual redraw, phone/internet $0, no minimum redraw amount). Funds are transferred to the borrower’s nominated bank account via direct credit within two business days.

LVR for Line of Credit Home Loan - Choicelend - Equity Plus Full Doc

Owner Occupied Maximum LVR 90% ,
Investment Maximum LVR 90% ,
Refinancing Maximum LVR 90%

Fees for Line of Credit Home Loan - Choicelend - Equity Plus Full Doc

Application Fee $700 (Nil application fee option available - an increase of 0.10% applies to the advertised interest rate. Contact ChoiceLend for more information) ,
Extra Valuation Fee At Cost (Required if initial valuation is older than 90 days at settlement or if multiple securities - refer to ChoiceLend Lending for costs) ,
Discharge Fee $295 (Fee is for full Discharge. Partial Discharge or security substitution Costs as follows: ,
- production fee is charge $99.00 (inc. GST) ,
- re-documentation fee $250.00 (inc. GST) ,
- title insurance (refer to Title Insurance Matrix) ,
- LMI Premium (only applicable if loan or LVR is increasing): refer appropriate program) ,
Deferred Establishment Fee Yes (Designated Early Repayment Fee applies if loan is discharged within 5 years, 2 Notional Monthly Repayment) ,
Switching Fee $100 ,
Other Fees $105 Title Insurance Fee (amount shown is for single security under $600k) please refer to attached table for multiple security costs or for securities > $600k ,
Portability Fee $100 ,
Split Fee $100 (Restructure Administration Fee - per request)