Low Doc Home Loan - Citibank - Mortgage Power Self Certification LOC

Comparison Rate	8.19%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,477.30
Total Amount Paid Est.	$536,439
Establishment Fee	$399.00

8.07%

Target Market
For clients who want to "tap into the equity" of their property to create wealth through acquisition of investments. One of the few lines of credit available in the market exclusively for "wealth creation". Citibank Revolving Mortgage customers: ,
Would usually intend to use the funds for investment purposes. ,
Are likely to be refinancing a previous mortgage to leverage for future investment opportunities. ,
Are looking for the flexibility to pay down their mortgage and draw it back at a later stage. ,
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Fully Verified ,PAYG applicants, full-time or permanent part-time, Casual / contract Casual employed applicants must be a co-borrower with a permanent employed applicant),Self-Employed applicants 3 years in business for normal lending (< 3 years then 10% deducted from normal LVR) ,
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Self-Certified is available for self-employed to obtain a loan whose tax returns are incomplete or unavailable. It has been designed to be one of the most competitive in the market and combined with our existing product flexibility should be a very attractive alternative for your clients. The primary applicant must be self-employed and all self-certified loans are fully mortgage insured. At least one applicant must be self employed with an ABN greater than 1 year. Maximum LVR on income declared option is 80% for ABN > 2 years. For ABN between 1 year and 2 years maximum LVR is 70%. For income not declared option, maximum LVR is 70%. ,
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Applicants can combine Mortgage Power and with any Standard Variable and Standard Fixed self certified options

Acceptable Income
PAYG Full-time or permanent part-time, Casual, Self Employed. ,
Borrower must have an active ABN for a minimum of 2 years and at least 12 months registration for GST is required. 12 month continuous period of BAS statements required.

Home Loan Loan Term
Maximum term 30 years.

Home Loan Loan Size
Minimum Mortgage Power $50K ,
Minimum Mortgage Plus $200K ,
Maximum: $4 Million ,
Self Certified Minimum $50K - maximum $2.5M aggregate borrowings for Category 1 locations. ,
Category 2 $750K & Category 3 $500K ( up to 80% LVR ) all states ,
WA & SA & Tas & NT Maximum $750K (per 1 security) anything outside of this range please refer to BDM.

Home Loan Repayment Type
Interest Only.

Repayment Options
Daily, Weekly, fortnightly or monthly repayments.

Extra Repayments
May be made at anytime - No minimum amount & no penalty.

Split Loan Facility
Minimum split $20K. Maximum 4 splits. Multiple splits of one option available. ,
Fully verified: May be combined with one or more of the following: Standard Variable, Standard Fixed. ,
Self Certified: May be combined with one or more of the following: Standard Variable, Standard Fixed.

Offset

Redraw Facility
Yes - Anytime except during the fixed rate term.

LVR for Low Doc Home Loan - Citibank - Mortgage Power Self Certification LOC

Owner Occupier Maximum LVR 90% with LMI, otherwise 80% ,
Investment Maximum LVR 90% with LMI, otherwise 80% ,
Construction Maximum LVR 80% ,
Refinance Maximum LVR 90% with LMI, otherwise 80% ,
Security location & LVR the maximum LVR is dependent on the property type and security. Refer ww.mortgagebroker.citibank.com.au Broker Guide or BDM for further information. ,
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Self Certified LVR ,
Self Certifier 80 Maximum LVR 80% regulated and unregulated loans ,
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Maximum LMI exposure to a borrower (new loan plus any existing insured loan) $2.5M.

Fees for Low Doc Home Loan - Citibank - Mortgage Power Self Certification LOC

Establishment Fee:$399 (includes $500 towards cost of valuations) ,
Settlement Fee $250 (displayed as Mortgage Prep Fee) ,
Additional withdrawals $2 each ,
Mortgage Power ,
Account keeping fee $12/month per account ,
15 free withdrawals per month ,
15 free deposits per month ,
Additional withdrawals $2 each ,
Free Cheque Banking ,
Greater than $500 Cash/Coin deposits at NAB, clients incur a cash handling fee of 1%, all other types of deposits can be made free of bank charges.