Low Doc Home Loan - RAMS - Low Doc Line of Credit Pro Pack 2>$500K

Comparison Rate	7.42%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,356.22
Total Amount Paid Est.	$497,755
Establishment Fee	$595.00

7.19%

Target Market
Customers who are unable to disclose their full income details and are seeking minimum amount of paperwork and fuss at a Pro pack rate. ,
This includes people with irregular income streams like self employed individuals. ,
They must have a clear credit history, substantial equity and the ability to service their loan payments.

Acceptable Income
Self employed minimum of 2 years; must complete the A&L statement and signed self certification. ,
Mortgage Insured Self Employed minimum > 70% LVR two (2) years in same business <= 70% LVR one (1) year in same business. ,
Non Mortgage Insurance Self Employed minimum <= 70% LVR one (1) year in same business. ,
ABN registration for all Self employed applications. ,
GST Registration ,
No Min GST but if registration is in proximity or as result of loan application satisfactory explanation required Not required if declared Business income is < $75K . ,
If declared Income is > $75K and No ABN or GST Registration, then confirmation letter from Applicant’s accountant is required in regards to why GST registration is not applicable. ,
All Low Doc Applications: must be supported by Business Activity Statements (BAS) for the past 12 months and ATO Lodgement Reference Number And last 3 months accounting statements evidencing payment of tax as advised on the BAS.

Home Loan Loan Term
Maximum loan term 30 years

Home Loan Loan Size
Minimum Loan - $100K & $500k ,
Maximum $499,999 & $1M ,
Maximum: depending on LVR, mortgage insurer and postcode.

Home Loan Repayment Type
Principal and Interest and Interest Only maximum term 10 years

Repayment Options
Weekly, fortnightly, Monthly payment frequencies on any nominated day. ,
Available as an interest only option or principal and interest option.

Extra Repayments
Yes. No Minimum

Split Loan Facility
Available at anytime (minimum = $50k).

Offset
No.

Redraw Facility
Yes, No min ,
Redraw fee = Nil.

LVR for Low Doc Home Loan - RAMS - Low Doc Line of Credit Pro Pack 2>$500K

Owner Occupier Maximum LVR 80% ,
Investment Maximum LVR 80% ,
Refinance Maximum LVR 80% ,
Land LVR N/A ,
Debt Consolidation Maximum LVR 80%

Fees for Low Doc Home Loan - RAMS - Low Doc Line of Credit Pro Pack 2>$500K

Application Fee $395. ,
Valuation Fee $200. ,
Additional Valuation Fee $220 ,
Loan Settlement Fee $300 ,
Account Keeping Fee (displayed as Annual Fee) Single loan $200 ,
Loan Switching Fee $295 ,
Discharge Fee $295 plus legals. ,
Early Repayment Fee Year 1-3: 1% ,
Early Repayment Refund to customers that settle a new loan within 6 months of incurring the ERF on their original closed RAMS loan. ,
Conditions apply refer to BDM for further details. ,
ATM, EFTPOS Cheque access 10 Free Transactions across all access methods. After free trans: $2.00 for ATMs, $0.65 for EFTPOS, $0.90 for Chq. ,
Loan FixingFee $295 post settlement only ,
Customers who convert their current loan to a construction loan will not be charged the $295 Conversion Fee. A Conversion Fee is payable if changes are made such an increase or a change of product. ,
Construction Loan Fee Progress Payment Fee $50 per Progress Payment