This is largely dependant on the lender and the product you choose. But as a general rule you will need at least 5% of the purchase price.

There are circumstances where less deposit can be used. As a first Home Buyer you will recieve a Grant from the Federal Government and in some cases your State Governement.

In most cases you do require at least a 3%-5% deposit. There are loans where you can obtain 100% finance. In these cases you will still need to cover the costs to obtain the finance which are:

• Lenders Mortgage Insurance
• Government Stamp Duty
• Mortgage Stamp Duty (if applicable)
• Application Fees
• Valuation Fees
• Conveyancing and/or Legal Costs

There are other loans where you can obtain 106% finance and cover all costs incurred toward obtaining finance.

Low Doc and Fully Verified refers to the way in which a Lender substantiate your income.

Self Verified (Low Doc)
You may be self employed or PAYG and you cannot or do not wish to verify your income. Circumstances that may require Low doc include:

• Operating a partial year and you don’t have complete tax returns.
• Unusual Income sources
• Unable to verify your full income
• Lenders may require other criteria to substantiate your income: including income declaration forms, bank statements, or B.A.S statements.

Fully Verified

You may be self employed or PAYG and you are able to fully disclose your income and can provide documentary evidence. This may include:

• 2 years Tax returns
• Computer Generated Payslips
• Letter from Employer

Low Doc loans can attract a higher interest rate than a Fully Verified loan. There are circumstances where income can be substantiated by alternative means to obtain a more competitive rate than a low doc rate. A complete analysis will identify the most competitive product.

This loan is designed specifically for self-employed people who have had an ABN registered for 1 day, 12 months and 2 years or more. You may fully disclose your income or choose to self verify as you do not have complete financials or you are not able or do not wish to produce full financials. With this loan you can:

• Borrow from $50,000 up to $2.5 million, for a period of 15 to 30 years
• Obtain up to 80% Loan to Value Ratio without paying the Lenders’ Mortgage Insurance premium.
• Obtain up to 95% Loan to Value Ratio with Mortgage Insurance.
• Choose from a variable interest rate or a fixed rate for 1, 3, or 5 years .
• Repay your loan monthly, fortnightly or weekly including by direct debit
• Choose a Line of Credit facility, including phone or internet, ATM and EFTPOS Access and monthly statements.
• Clean or Impaired Credit History.
• Choose a 100% Offset Account, including phone or internet, ATM and EFTPOS Access and monthly statements.

This type of loan is ideal for people who:

• May need to borrow more money than the limits imposed by tradition lenders
• Have an inconsistent or inadequate savings history
• Have an unusual deposit, such as a gift.

The 100% offset is a savings linked to your homeloan account. Unlike a Line of Credit which is an all in one account like a credit card, the offset account is a seperate account. For every dollar that is in your 100% offset savings account is offset by that amount on your mortgage. In actual fact the offset account is set at the same interest rate as your mortgage account.

Banks work offset accounts in many different ways. When looking for offset accounts look for:

Account is fully 100% offset. Some banks offer them as partial offset.
Minimum account balance before offset begins working.
Extra fees for offset account.
Over time by keeping additional funds in your offset account, and making the required payments, you may pay less interest on your loan and more off your principal.
Mortgage Offset accounts and Line of Credit Facilities can attract higher fees and / or have limitations on how the offset account operates.

LVR Ratio is a numerical formula a lender uses to help identify a loans risk value. LVR Ratio is the ratio of Valuation vs the Loan amount.

Eg. Property value of $250k and Loan amount of $200k.

200/250 X 100 = 80%

LVR = 80%

Higher LVR ratio’s are more of a risk for a lender. Limitations are often put on products and can attract higher interest rates and fees. Choosing the right lender can provide competitive rates and fees across all LVR ratio’s.

The best way to describe Line of Credit Loans is that they are like very Big Credit Cards that use your house as security.

Line of Credit Loans (LOC) can provide quick and easy access to funds using the equity in your home or residential investment property. They have a pre-approved credit limit very much like a credit card. You may use as much or little of the funds up to the credit limit. Line of Credit Loans (LOC) are very useful facilities, but can come with a high price tag. A combination of loans with a Line of Credit may provide a more rounded solution.

When considering LOC Loans consider the following:

• LOC Loans can attract higher Interest Rates and Fees.
• Most people require a structured type loan. The flexibility of a LOC may not be suitable.
• Would an LOC be effective as part of a complete Loan Package? Can the same result be achieved with a cheaper option?
• Line of Credit Loans are available for Fully Verified Incomes and Low Doc Loans.
  Borrow from $50,000.
• Have a Split Loan account with a minimum of $20,000
• Make purchases in over 200 countries and cash withdrawals with National and International ATMs.
• Reduce your daily balance and hence the interest paid by having all your salary credited to this account.
• Make automatic payments and direct debts such as health fund and insurance premiums.
• Have the option of Interest Only payments for 5 years from the date of settlement.
• Capitalise your interest payments with suitable lenders.
• Drawn funds for personal or investment purposes.

You may be looking for a cheaper option, dissatisfied with your current lender, or seeking an additional loan and see that combining your loans may provide you a better deal.

This type of loan is ideal for people who:

• Are dissatisfied with their current lender.
• Looking for a more competitive facility and save money.
• Wishing to set up their current facility for future business, investment, or other personal purposes

With a refinancing loan you can:

• Borrow from $50,000 up to $2.5 million, for a period of 15 to 30 years.
• Obtain up to 95% Loan to Value Ratio (LVR).
• Choose from a variable interest rate or a fixed rate for 1, 3, or 5 years.
• Loans can be Interest Only or Principal and Interest.
• Repay your loan monthly, fortnightly or weekly including by direct debit
• Choose a 100% Offset Account, including phone or internet, ATM and EFTPOS Access and monthly statements.
• Choose a Line of Credit Facility, including phone or internet, ATM and EFTPOS Access and monthly statements.
• Self Verify or Fully Verifiy your Income.
• Clean or Impaired Credit History. *Conditions Apply

Home Loans and Investment Loans are generally the same type of product. Home Loans usually have more features which are generally not required with Investment Loans. The features you require for Home loans and Investment Loans may be Offset Facilities, Repayment Holidays, transaction accounts etc… as Investment loans are usually set and forget loans. As a general rule, Interest rates and Fees increase with the number of product features. To obtain an effective Fee interest rate and fee structure, completing a Home Loans and Investment Loans Needs Analysis should be completed to obtain the best Fee, Interest Rate, and Feature Balance for your Needs.

You can be Full-time/Part-time or Self-employed (with an ABN registered for 1 or 2 years or more). With this loan you can:

• Obtain up to 100% Loan to Value Ratio (LVR).
• Choose from a variable interest rate or a fixed rate for 1, 2, 3 or 5 years
• Repay your loan monthly, fortnightly or weekly including by direct debit
• Choose a Line of Credit facility (up to 90% Loan to Value Ratio) , including phone or internet, ATM and EFTPOS Access and monthly statements.
• Choose a 100% Offset Account (up to 100% Loan to Value Ratio) , including phone or internet, ATM and EFTPOS Access and monthly statements.

Investment Loans and Home Loans Needs Analysis will identify:

• Proportion of Investment Loans vs Home Loans.
• Features Required for your Loan Purpose.
• Loan Types available for your purpose.
• Any possibilities of saving money from fees or interest rates.
• Income Verification Requirements including Low Doc Loans .
• Identify present or future risk.
• Opportunities for Debt Consolidation.

Consolidate debt into one repayment. Debt Consolidation loans are available if you have equity in your own home or property. You may have either clean credit, or minor or major credit impairment or you have paid or unpaid credit defaults, we may be able to help you:

Use our Mortgage Loan Repayment Calculator to determine your anticipated savings to Consolidate Debts. Total all of your debts and use the Mortgage Loan Repayment Calulator to determine your repayments

• Consolidate debts into one lower overall repayment.
• Reduce your total payments.
• Dramatically reduce the interest you are currently paying.
• Use your Equity to the best cashflow advantages.
• Restructure so you can breath again.

You may choose to apply for either a self-certification loan (Low Doc) or a fully verified loan.

Fully Verified/ Variable or Fixed Rate
Low Doc Loan - Variable or Fixed Rate