LoanStar Low Doc Loan
LoanStar Low Doc Loan
(Financials Not Required)
Product Requirements:
- Purchase only
- At least one applicant must be self employed (minimum 2 years)
- Applicants must have a minimum net worth of $50,000
- You must have a ABN and be registered for GST (both for a minimum of 2 years)
-Company and Trust borrowers accepted;
| Product Details | |
| Current Interest Rate | tba * WARNING: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate, but may influence the cost of the loan. Comparison rate schedules are available from the LoanStar office. Fees, terms and conditions are subject to change without notice. |
| Interest (Variable & Fixed) | Calculated daily and charged monthly |
| Fixed Rates | Choice of 1, 2, 3, 4 & 5 year terms |
| Loan Size | up to $1 million per security or $2.5 million per obligor. |
| Maximum Borrowings (Loan to Value Ratios) | 80% of security valuation (conditions apply) |
| Loan Period | up to 30 years |
| Repayment Options | Principal and Interest Interest Only – Terms 1 to 10 years |
| Mortgage Insurance | Mortgage Insurance is payable by the borrower for all loans |
| Payment Convenience | Salary can be paid directly into loan account OR Weekly, fortnightly or monthly payments |
| Redraws | No minimum amount Standard redraws at no cost Funds available 48 hours after redraw request |
| Loan access | LoanStarNet – Internet Banking LoanStarCall – Telephone Banking |
| LoanStar Fees | Application $600(includes one standard residential valuation up to $500,000) Extra Valuation $275 (standard residential valuation up to $500,000)Legal Costs $475(one security) Account Keeping Fee NIL Statement Fees NIL Standard Redraws NIL |
| Construction Loan | A construction loading is applied during the construction period. This loading is removed once construction is completed and the loan is funded in full. |