| Home Loan Lender |
 |
The Rock Building Society Home Loan |
|
| Home Loan Product Name |
Lo Doc |
| Interest Rate |
8.57% |
Comparison Rate
Estimated |
8.66% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,160.82 |
Total Paid
Estimated |
$420,360 |
| Establishment Fee |
$600.00 |
| Enquire/Apply |
 
|
| Target Market |
Self-employed or full-time investors. |
| Acceptable Income |
Income Declaration required for Self Employed borrowers. Confirmation of Income will be confirmed. Two Years ABN minimum and registered GST income >$75K. |
| Loan Term |
Maximum term 30 years. |
| Loan Size |
Maximum loan under Lo Doc $1 million to 80% LVR for category 1 in Sydney, Melbourne and Brisbane.
,
$1 million to 80% with security located in any category 1 and 2 regions (subject to review). This means that we can now increase our lending to this second level in the correct WA postcode.
,
$600,000 to 65% with security located in any category 3 postcode listing. |
| Repayment Type |
Variable and Fixed.
,
Principal and Interest.
,
Interest Only for 5 years. |
| Repayment Options |
Weekly, fortnightly, monthly.
,
Payments can be made at any time provided require payment is made by due date. |
| Extra Repayments |
|
| Split Loan Facility |
Loans can be split up to six splits. $5 monthly account fee applies to the first split only. |
| Offset |
100% Offset Account available for all Lo Doc Loans (up to six per loan including fixed rates. $12 monthly fee applies for each offset. |
| Redraw Facility |
Free unlimited redraw on all loans, including Fixed Rates Loans minimum $1K. |
| LVR |
Owner Occupied & Construction Maximum LVR 80%.
,
Residential Investment Maximum LVR 80%.
,
Refinancing Maximum LVR 80%.
,
For loans up to $500,000: Up to 80% for purchases and refinances.
,
Vacant Land $350k to 80% (GE) or $500k to 80% (PMI) |
| Fees |
Application Fee $600 (includes the valuation of one security property)
,
Additional Valuation Fee $275. (To the value of $1 million the Valuation Fee will be added to the Application Fee).
,
Progress Inspection Fee $125. This fee is charged for each of the first and final builders payments
,
Account Keeping Fees $5 per month
,
Release Fee:$380.
,
Switch Fee:$250.
,
Cheques written - $0.75 per cheque.
,
First 5 Electronic transactions Free then charges applicable.
,
ATM withdrawal - $1.50.
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EFTPOS $0.65.
,
All Deferred Establishment Fees: If the loan is fully repaid within:
,
Y1 or Y2 - minimum $1,500 or 0.25% (whichever is greater).
,
Y3 - minimum $1200 or 0.20% (whichever is greater).
,
Y4 - minimum $900 or 0.15% (whichever is greater).
,
(Calculated on the approved loan amount).
,
Plus deferred LMI premium. |
| Enquire/Apply |
|