Owner Builder Full Doc, Lo Doc & No Doc | |
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Overview
• All construction loans are different from normal home loan because it can be drawn in stages rather than a lump sum at settlement. • These stages are in line with construction stages and to our satisfaction • The loan is normally at a variable rate during construction, and you normally make interest payments on the amount drawn Target
• Full Doc Individuals (PAYG or self-employed), Investors, Companies, Partnerships or Trusts.
• Lo Doc self-employed), Investors, Companies, Partnerships or Trusts |
Loan Purpose |
Loans considered for construction off residential and investment and industrials being non Regulated by the UCCC |
Loan Features |
• Ideal for owner builder Borrower it give them freedom to Build ,develop or take part in the project |
Loan Products |
Securitize facility or private funding pending on application |
Minimum Loan Size |
$250k (Subject to the loan scenario and to the LVR) Double security or multiple |
Maximum Loan size |
$15,000,000 (Subject to the loan scenario and to the LVR) Single security |
Loan to Value Ratio |
• 75% to 1,200,000 (Full Doc )Mortgage insured (Payable by borrower) |
Minimum Loan Terms |
• Full Doc and Lo Doc Interest only from 1year to 15 years and (P&I thereafter) to 40 yrs |
Maximum Loan Terms |
• Full Doc and Lo Doc Interest only from 1year to 15 years and (P&I thereafter) to 40 yrs |
Loan Repayment Frequency |
• Weekly, twice monthly or monthly, day and date can be nominated for Full & Lo Doc |
Security Type |
Residential and investment for Full Doc and Lo Doc |
Redraw Available |
Yes after completion of construction for Full and Lo Doc |
Split Loan Available |
Yes after completion of construction for Full and Lo Doc |
Dynamic Repayment |
Yes after completion of construction for Full and Lo Doc |
Additional Repayment |
Principal reductions accepted with minimum of $5,000 each time on the principal part if any |
Loan statements |
Issued Half Yearly (But you can ask us when required we will mail them to you charges apply). |
Documentation Required |
Subject to the loan purpose, please call 1300 790 909 for more details |
Financial Information |
A. Prime loans Borrowers must demonstrate serviceability with up to date detailed financial statements covering last 12 months + 4 pay slips for (Full doc Loans) |
Qualifying Interest Rate |
Please call our consultant on 1300 790 909 for more details |
Other Conditions |
A. Prime loans Borrowers must demonstrate serviceability with up to date detailed financial statements covering last 12 months + 4 pay slips for (Full doc Loans) |
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