Low Doc Home Loan - Westpac - Lo Doc 6 yr fixed Investment

Comparison Rate	7.32%
Amount	$200,000
Term	30 years
Initial Payment Est.	$1,501.13
Monthly Payment Est.	$1,269.73
Total Amount Paid Est.	$477,312
Establishment Fee	$600.00

8.24%

Target Market
A loan to buy construct or refinance residential real estate for investment purposes. (Available to Non- Residents). ,
Can be combined with other eligible loans to form a Combination Investment Property Loan. ,
First mortgage over residential property is required as security. ,
Fixed rate term options for 1,2,3,4,5,6,7,9,10 & 12 year periods.

Acceptable Income
Lo Doc Applications: must be supported by 12 months worth of Business Activity Statements (BAS) and the end of latest BAS activity period no more than 4 months prior to the the first formal application submission date. ,
Following Documents can be used to comply with the BAS requirement: ,
- Completed ATO BAS templates ,
- Completed BAS created vis Accountant's software ,
- BAS printouts/summaries from the Tax Agent Portal or the Tax Office ,
Low Doc Loans must be supported by: ,
- Copy of the Australian Business Registration certificate generated at the time of ABN registration or The letter issued by Australian Business Register that confirms the ABN registration and accompanies the certificate. ,
ABN registration date was at least 2 years prior to the date of application.

Home Loan Loan Term
Fixed rate term options for 1,2,3,4,5,6,7,9,10 & 12 year periods.
Maximum overall loan term is 30 years.

Home Loan Loan Size
Minimum: $15K on full docs, $25k on low docs ,
No Maximum where LVR is <80% on full docs

Home Loan Repayment Type
Principle and interest ,
Interest only term (up to 10yrs) and/or ,
Interest only in advance repayments (up to 12 months) available on 1-5 Year terms.

Repayment Options
Weekly, fortnightly or monthly.

Extra Repayments
Additional payments allowed. Prepayments during fixed rate period permitted up to $25,000 (for loans prior to 23/03/09 the limit is $15,000) prior to break costs applying.

Split Loan Facility
Available within combination structure.

Offset
Not available.

Redraw Facility
Available. Redraw fee $10 for Fixed Rate Investment Property Loans & Low Doc. Customer may redraw excess funds they have prepaid during the fixed period ,up to a maximum of the prepayment threshold of $25,000 (for loans prior to 23/03/09 the limit is $15,000) during the fixed period. Redraw not available for company borrowers and where loan has Interest Only in Advance ( IOA ) payment arrangement.

LVR for Low Doc Home Loan - Westpac - Lo Doc 6 yr fixed Investment

Investment Maximum LVR 97% ,
Construction Maximum LVR 97% ,
Refinancing Maximum LVR 90%. ,
Low Doc Max LVR - 82% ,
Please note that the Max LVR of 97% is for existing customers only. ,
Maximum LVR for new customers is 92%. (Refer to 'Special Criteria' for Existing Customer definition) ,
Please refer to 'Lender Manual' for Higher Priced Property LVR Changes

Fees for Low Doc Home Loan - Westpac - Lo Doc 6 yr fixed Investment

Establishment Fee:$600 ($1,000 for non-residents). ,
Loan Maintenance Fee: $8 per month ,
$8 per loan if Combination Loan. ,
Progressive Draw Down Fee:$300 (payable once only) ,
Switching Fee::$300 (covers all draws) ,
No fee applies when customer refixes loan or reverts to variable rate at the end of the fixed rate period ,
Switching fee applies if switching during fixed rate period to another fixed rate contract or to a variable rate loan. ,
A prepayment cost plus admin fee may apply if switching prior to fixed term expiry ,
Lock in Fee 0.15% of the Loan Amount ,
Additional Valuation Fees: ,
Independent valuers - for quote contact lender. ,
Deferred Establishment Fee $900 will only be charged if a customer closes their loan with Westpac within 4 years of origination for reasons such as re-financing to another institution, selling their property or early ,
repayment where they request to close their loan. Customers will only be charged one DEF per combination or split facility. ,
Guarantor Fee $200.