Low Doc Home Loans - BMC - Low Doc PAYG |
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to select a different loan amount and loan term. Currently: $150,000 over 30 years |
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| Home Loan Lender |
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BMC Home Loan |
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| Home Loan Product Name |
Low Doc PAYG |
| Interest Rate |
9.80% |
Comparison Rate
Estimated |
9.86% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,294.24 |
Total Paid
Estimated |
$466,590 |
| Establishment Fee |
$750.00 |
| Enquire/Apply |
 
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| Target Market |
Applicants who have been self employed for greater than two years. |
| Acceptable Income |
Self Employed via income declaration.
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Applicants must sign an income declaration that they are able to afford the loan without hardship.
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Details of borrower’s financial position including income, expenses, assets and liabilities are to be provided and signed by all applicants. |
| Loan Term |
Terms of 10, 15, 20, 25 or 30 years available.
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May fix for terms of 2, 3, 4, 5, 7 or 10 years.
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At the end of the fixed term the borrower may refix at no cost or accept the then variable rate offered.
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Interest Only loans are available for the first 10 years only and the fixed rate period must match the Interest Only period. |
| Loan Size |
Minimum Loan Amount:$50K
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Maximum Loan Amount $1M .(Loans up to $2M maybe considered if <60%LVR.)
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Maximum Exposure Per Client $2.5M |
| Repayment Type |
Principal and Interest.
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Interest Only. |
| Repayment Options |
Monthly or fortnightly or weekly.
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Interest Only Monthly. |
| Extra Repayments |
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| Split Loan Facility |
Yes. |
| Offset |
Not applicable. |
| Redraw Facility |
Surplus funds can be redrawn (minimum of $2,500)
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No minimum via Origin Internet or Telephone Banking.
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No fee is applicable. |
| LVR |
Owner Occupier Maximum LVR 80%
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Vacant Land Maximum LVR 80%
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Investment Construction Maximum LVR 80%
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Security to be held in metro areas of Sydney, Brisbane, Melbourne, Perth or Adelaide or major regional centres in NSW, QLD, VIC WA or SA.
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Registered first mortgage.
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A collateral second mortgage can be taken where the lender holds a first mortgage over the prime security.
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Second mortgages are only acceptable as collateral security.
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PMI Post Code list applies for acceptable security locations refer to CRS/Documents LMI folder PMI Location Guide
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Maximum LVR
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Standard Residential Property 80% LVR
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Other acceptable non residential standard property subject to valuation
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Multiple dwellings on one title 80% LVR (Max 4)
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Luxury residential 60% LVR
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Rural Residential housing (<10 hectares or <25 acres) 80% LVR
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Vacant Land 80% LVR
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Valuation:Required on all security properties. |
| Fees |
Establishment Fee $750.00
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This fee includes the base legal fee and one valuation fee.
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If there is more than one property to be valued a fee of $220 per additional property will be payable. (NB. If the property value exceeds $300K a quote should be obtained for the valuation cost.)
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Early Repayment Fee - postponed lender’s establishment fee applies if the loan is repaid in full during the first 5 years of the loan. The fee is 1.25% of the original loan amount years 1-3, year 4 is 0.50% and year 5 is 0.25%
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Account Keeping Fee No ongoing monthly fees. |
| Enquire/Apply |
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| Other Low Doc Home Loans |
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| Other BMC Home Loan Products |
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This Comparison Rate applies only to $150,000 with a loan term of 30 years. The loan amount and term will affect the comparison rate calculation. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparsion rate calculation but may influence the cost of the loan.
This rate is to be used as a guide only and we recommend that you confirm it with the lender before acting upon it.
The information provided in this website is a guide only and may not be complete for your purposes. ratesonline.com.au is not licensed to provide investment advice and recommends that you consult an independent financial adviser.
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