Low Doc Home Loan - Commonwealth Bank - Lo Doc 10 yr fixed MAV0.15% Disc

Comparison Rate	7.69%
Amount	$200,000
Term	30 years
Initial Payment Est.	$1,501.13
Monthly Payment Est.	$1,236.80
Total Amount Paid Est.	$487,500
Establishment Fee	$0.00

8.24%

Target Market
Professional package ,
Applicants in Professional Employment & High Income earners ,
Bridging Loans ,
A bridging loan is for the client that wishes to purchase a new property and has not yet sold there existing home. The loan can be secured by both the existing property and new properties or the existing property solely. ,
Borrowers will have up to a maximum of 12 months to reduce the total debt to the agreed residual debt level. ,
Capacity to service interest only payments on the total debt during the bridging period, capacity to repay the Residual Debt on a P & I basis at the appropriate interest rate over the proposed term after the existing property is sold. ,
The maximum LVR for bridging purposes is 90% subject to LMI (LMI can be waived refer to BDM. ,
Note Bridging Loans can be written at any of the Bank interest rate options restrictions apply to Fixed Rates Loans or One Year Guaranteed Interest Rate option may attract an Early Repayment Adjustment. ,
Qualifying footings for MAV any portion of a loan used for bridging is excluded, ie only estimated residual debt is included. ,
Line of Credit cannot be used for bridging purposes

Acceptable Income
PAYG & Self / Employed ,
Normal servicing criteria. However, CBA servicing rate may be reduced by 0.5%

Home Loan Loan Term
10 - 30 years

Home Loan Loan Size
Minimum loan amount - Entry $150,000 in HL or IHL products or Line of Credit ,
Minimum loan Amount Ongoing - $100,000 ,
Conditions apply refer to lender case by case

Home Loan Repayment Type
Refer to Mortgage Advantage term and conditions

Repayment Options
Refer to Mortgage Advantage term and conditions

Extra Repayments
Additional payments permitted

Split Loan Facility

Offset
Mortgage Interest Saver Account (MISA) - 100% offset available on Standard Variable product

Redraw Facility
Not available during the fixed rate period. ,
Yes - Minimum $$500 by electronic request and $1,000 from the branch.No redraw fee. ,
Redraw available via Internet and Phone Banking and can be linked to ATM Card.

LVR for Low Doc Home Loan - Commonwealth Bank - Lo Doc 10 yr fixed MAV0.15% Disc

Owner Occupier, Investment, Construction Maximum LVR 90% LVR (Max 95% for existing CBA customers who hold a CBA Consumer Finance Product - for atleast 6 months with no arrears or missed payments) plus LMI ,
External Refinance (from other financial institutes) a maximum LVR 90% ,
Vacant Land Maximum LVR 90% LVR ,
,
Mortgage Advantage Low Doc Loans with LVR >60% are not eligible for the MAV Package Rates.

Fees for Low Doc Home Loan - Commonwealth Bank - Lo Doc 10 yr fixed MAV0.15% Disc

$350 Package fee (MAV) (annual) Debited to Gold Credit Card at settlement and annually thereafter. ,
MAVPLUS existing customers will be migrated to MAV Package with reduced fee annual fee of $350. ,
Additional Security Fee $150 for each additional security ,
If your customer substitutes new security for the loan, they must pay this fee plus any other applicable Bank fees and Government charges. ,
A settlement fee of $150 will apply to all H/L Invest Loans/ Lines of Credit/ where the bank is required to physically attend a settlement and where a new mortgage security to be obtained (Fee displayed as Mortgage Preparation ) ,
Settlement Fee - Discharge:$350 ,
Stamp Duty on the Mortgage ,
Calculated on the amount of the loan and payable to the State Government Stamp Duty authority ,
NB: If the customer is buying a property, Stamp Duty on the transfer purchase price will also be payable to the State Government. ,
Refer the customer to their solicitors as to other costs they might incur. ,
Switching Fee -$300 This fee is payable if your customer applies to switch all or part of their home loan or investment home loan to another home loan or investment home loan product. ,
It does not include any out-of-pocket expenses which may be payable to a third party e.g. Stamp Duty ,
Account Service Fee N/A ,
Valuations - For high value properties, the Bank requires a full valuation to be undertaken by an independent Valuer. This necessitates referral to the Bank’s Chief Valuer to nominate appropriate valuers and negotiate fees. The valuation requires a detailed inspection and comprehensive written report. ,
Sydney & Melbourne metro >$2m ,
Other >$1m ,
Security Substitution Fee - A security substitution fee of $300 applies where no additional funds are sought. Where additional funds are also sought the standard establishment fee for that product applies ,
If your customer substitutes new security for the loan, they must pay this fee plus any other applicable Bank fees and Government charge ,
Security Guarantee Fee -$200 (per borrower) applies where a guarantor(s) provides security to support the loan. The fee is debited to the loan account (Refer Special Notes Family Equity and Guarantors ’Support Policy) ,
Deferred Establishment Fee $700 applicable if loan is repaid out within 4 years from the first loan drawing ,
NetBank when completing the MAV/MAV Plus package application you will need to record a note that the customer wants to set up NetBank. ,
The Bank will then create a NetBank facility and apply the exemption when processing the application. Existing NetBank customers who subsequently join MAV/ MAV Plus. When completing the MAV/MAV Plus package application form you will need to record that the customer is an existing NetBank customer on page two (2) of the form. The Bank will then apply the exemption when they process the application.