Variable Rate Home Loan - Keystart - Keystart (WA Only) Land Loan

Comparison Rate	6.31%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,234.04
Total Amount Paid Est.	$444,915
Establishment Fee	$675.00

6.27%

Target Market
Please mark at the top of the Loan Summary Details section of the Lodgement Pack "LAND ONLY LOAN" in bold letters. ,
Where applicants are purchasing vacant land and the contract to build the new home is not yet available, the vacant land is now acceptable as security provided ,
Construction of the new Home commences within 12 months of settlement ,
No "Fee Assistance" is available ,
Statutory Declaration from all borrowers stating, ,
They intend to build within 12 months ,
The Home will be for Owner occupation ,
All existing property held by the applicants will be sold ,
An acknowledgement that should these conditions not be met that Keystart may require repayment of the loan on request ,
(This document will be issued with the pre-approval letter).

Acceptable Income
A UMI assessment will provide a Net Disposable Income (NDI) ratio, which must be maximum of 1.00:1 or greater for the loan amount sought to be approved. PAYG, PAYG under contract, Self Employed, Allowances: Shift, Offshore, Casual, Permanent Part Time, Maintenance, Centrelink Pensions, Aged, Newstart, Youth Allowance, Parenting & Carers Allowance, Sickness & Special Benefits ,
Maximum assessed income $120K per application (i.e. per household).

Home Loan Loan Term
Maximum loan term 30 years subject to conditions

Home Loan Loan Size
Maximum amount $237,500 (including Fee Assistance) ,
Maximum security property value $250K.

Home Loan Repayment Type
Principal & Interest ,
Interest only repayments will be available for up to 12 months. A Review of this facility will be undertaken in 12 months.

Repayment Options
Weekly, Fortnightly or Monthly ,
Monthly payment (e.g. monthly rep divided by 4 for weekly).

Extra Repayments
Additional repayments permitted.

Split Loan Facility
Not Available.

Offset
Not Available.

Redraw Facility
Redraws are now available for "all purposes" once the loan is fully funded ie house has been fully constructed. ,
There is no longer the need to supply invoices for work to be completed and the redraw amount can be released back to the client. ,
Minimum Redraw is $1K. ,
No fee for Redraw.

LVR for Variable Rate Home Loan - Keystart - Keystart (WA Only) Land Loan

Owner Occupier LVR 95% ,
Investment Maximum LVR 0 ,
Construction Maximum LVR 96% ,
Refinancing Maximum LVR 0 ,
Land Loans ,
Up to $250K, 95% Loan to Value ratio ,
For an existing Keystart loan, re-finance may also be considered in cases of partnership breakdown where a pay-out of a partner is required. Keystart may approve such loans up to the Keystart loan maximum, taking into account the amount of the existing loans and the additional advance required to pay out the partner.

Fees for Variable Rate Home Loan - Keystart - Keystart (WA Only) Land Loan

Loan Establishment Fee $500 ,
Valuation Fee $175- (initial fee includes GST country valuation are subsidised to a maximum amount of $400) note payment of valuation fees can be made by Visa, Bankcard or MasterCard - cardholder to complete in full and sign the authority and fax through or send it with your application. ,
Legal Fees $239.45 (Fee displayed as Mortgage Preparation ) ,
Deferred Establishment Fee - within the first 24 months of funding date $0.8% ,
between 24 to 36 months of funding date 0.6% ,
between 36 to 48 months of funding date 0.4% ,
between 48 to 60 months of funding date 0.2% ,
more than 60 months from funding date Nil ,
Loan increase amounts will include covering ,
the fees associated with the increase. These are as follows ,
Application Fee $200 (waived when increasing Land Only Loan for Construction) ,
Valuation Fee $175 metro, at cost for country areas (No subsidy) ,
Progress Inspections $65 per inspection, or at cost for country (refer contract) where structural improvements are being completed ,
Legal Fees - DHW $22 ,
Stamp Duty In accordance with current rates.