Line of Credit Home Loan - ING DIRECT - Smart Home Loan LOC <$300K

Comparison Rate	6.32%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,223.64
Total Amount Paid Est.	$446,040
Establishment Fee	$0.00

6.19%

Target Market
Owner Occupier, Residential Investment. ,
Consists of two accounts: the Line of Credit and linked Nil ,
Interest Visa Account (NIVA). ,
Total approved credit limit is aggregation of the two accounts. ,
Salary credited directly to account to minimise interest. Access to ,
Line of Credit account and NIVA funds available throughout the month. ,
Designed for self-employed and PAYG income earners. ,
NIVA Funds are not available at settlement.

Acceptable Income
Applicant Types: ,
PAYG Income Earners ,
Self Employed

Home Loan Loan Term
Reviewed every 5 years.

Home Loan Loan Size
Minimum $50K ,
Maximum $2 million

Home Loan Repayment Type
Interest Only.

Repayment Options
No repayments required until balance reaches 90% of approved loan limit. ,
Daily, Weekly, Fortnightly and Monthly. ,
Monthly NIVA Repayment - NIVA operates as a separate account, with a separate limit. ,
On first day of each month, NIVA account balance from the previous month sweeps into Line of Credit.

Extra Repayments
Additional payments permitted.

Split Loan Facility
Yes, fees apply.

Offset
Not available.

Redraw Facility
Yes, cheque access and visa Card access Conditions apply. ,
Telephone/Internet transactions and BPay available.

LVR for Line of Credit Home Loan - ING DIRECT - Smart Home Loan LOC <$300K

LVR without Mortgage Insurance up to 80% ,
LVR with Mortgage Insurance Maximum 90% plus LMI ,
,
Reduced Equity Fee (REF): ,
LVR with REF Maximum up to 90% (including capitalised REF premium). ,
REF is available as an alternative to LMI to borrowers that meet more stringent credit criteria and are borrowing >80% of the property value. It is generally cheaper than LMI and is available on all Full Doc products.

Fees for Line of Credit Home Loan - ING DIRECT - Smart Home Loan LOC <$300K

Establishment Fess - Nil ,
Annual Service Fee $180 ,
Additional Valuations fees commence at $200 for a standard valuation which are paid upfront, Refer to Postcode Valuation Costs in the INGD Loan Applications folder. ,
A legal fee of $220 minimum applies and is charged directly by the solicitor (displayed as Mortgage Preparation). Additional fees may be payable, for further information please consult your local INGD BDM or refer to ING DIRECT’s Pre-Settlement Fees & Charges brochure. ,
A $250 fee is charged if you make changes to the ING DIRECT’s letter of offer between date of issue and settlement. ,
Variation Fee $100 plus ,
Increase/Decrease $100 ,
Consent to 2nd Mortgage $100 ,
Substitution of Security $100 ,
Deferred Establishment Fee: ,
1 Year $1400 ,
2 Year $1050 ,
3 Year $700 ,
4 Year $350