Low Doc Home Loans - Commonwealth Bank - MAV Lo Doc >$750K 0.70% Disc

This loan is suitable for
Self Employed for 12 months, have an ABN registered for min 12 months and be GST registered (min 12 months where LVR is >60%) if income is greater than $75k. In cases where the deal needs Genworth approval, they will not consider request if applicant is not GST registered regardless if income amount is $75k or less.
Where LVR is >60% Applicant must provide Business Activity Statements for the past 12 months.

Home Loan Loan Term
Minimum: No minimum
Maximum: 30 years (subject to expected retirement age of applicant), Interest Only Period - 5 years

Home Loan Loan Size
Minimum: $10K
Loan amount 300K to $1,000,000 subject to LVR % requirements
Applications that exceed $1,000,000 will be considered by Genworth on a case by case basis.

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Home Loan Repayment Type
Principal and Interest and Interest Only and Owner Occupied and Investment, Line of Credit
Loan options available Standard Variable Rate Home Loan and Standard Variable Rate Investment Home Loan
Fixed Rate Loans for 1 to 5, 7, 10 & 15 years
Rate Saver loans (excluding 1 & 3 Year Special Rate Savers)
Low Doc loans MAV packages:

Repayment Options
Weekly, fortnightly or monthly repayments

Extra Repayments
Extra repayments permitted

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Split Loan Facility
Non applicable

Offset
Yes MISA

Redraw Facility
Available minimum of $500 electronic

LVR for Low Doc Home Loans - Commonwealth Bank - MAV Lo Doc >$750K 0.70% Disc

Owner Occupier Refinance Debt Consolidation Investment and Construction loans
Loans for refinanced must be supported by evidence of satisfactory repayment history (i.e. six months statements on loans being refinanced.

Base LVR of 80% (capitalized LVR of 82%)
Aggregated credit facilities of $2.5million

Mortgage Advantage Low Doc Loans - Max LVR 60%

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Fees for Low Doc Home Loans - Commonwealth Bank - MAV Lo Doc >$750K 0.70% Disc

Application Fee: $600 ($300 for each subsequent loan if there is an existing loan).
Off The Plan purchases incur an application fee of $800
Monthly Loan Service Fee: $8
A settlement fee of $150 will apply to all H/L Invest Loans/ Lines of Credit/ where the bank is required to physically attend a settlement and where a new mortgage security to be obtained (Fee displayed as Mortgage Preparation )
Settlement Fee - Discharge: $350
Stamp Duty on the Mortgage
Calculated on the amount of the loan and payable to the State Government Stamp Duty authority
NB: If the customer is buying a property, Stamp Duty on the transfer purchase price will also be payable to the State Government.
Refer the customer to their solicitors as to other costs they might incur.
Other fees and charges are payable.
Progressive Drawing Fee: $50 per drawing (maximum of 5 drawings)
Switching Fee: Up to $600 (where switching is allowed)
This fee is payable if your customer applies to switch all or part of their home loan or investment home loan to another home loan or investment home loan product.
It does not include any out-of-pocket expenses which may be payable to a third party e.g. Stamp Duty
Valuation Fee
This fee is included in the standard establishment fee.
Deferred Establishment Fee $700 applicable if loan is repaid out within 4 years from the first loan drawing

This fee is payable when the Bank (or its representative) is required to attend settlement for
The purchase of a security property, or for the refinance of a loan with another credit provider
Security Substitution - $300 Security Substitution Fee
If your customer substitutes new security for the loan, they must pay this fee plus any other applicable Bank fees and Government charges
LMI Arrangement Fee - The amount of LMI payable may vary according to individual loans and is based on the loan amount. Note a LMI Arrangement fee, $20.00 will apply
Additional Security Fee $150 for each additional security
Deferred Establishment Fee $700 applicable if loan is repaid out within 4 years from the first loan drawing