Low Doc Home Loans - The Rock Building Society - Lo Doc 3 yr fixed |
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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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The Rock Building Society Home Loan |
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| Home Loan Product Name |
Lo Doc 3 yr fixed |
| Interest Rate |
9.90% |
Comparison Rate
Estimated |
10.27% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,340.81 |
Total Paid
Estimated |
$483,360 |
| Establishment Fee |
$600.00 |
| Enquire/Apply |
 
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| Target Market |
Self-employed or full-time investors only must have minimum two years trading in current business.
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Must be Australian Citizen or Permanent Resident
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Must have existing equity in Australian real estate.
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Credit Bureau report to be free of any default/judgement/bankruptcy
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Available for Non-Regulated and Regulated.
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Purchase of vacant land, owner occupied or investment property and owner occupied or investment construction property
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PAYG co-borrowers are acceptable. Their income is to be evidenced in the normal manner. |
| Acceptable Income |
Applicants must provide an Income Declaration for each self employed borrower stating that the proposed facility is within their ability to service and meet reasonable living costs. Monthly or yearly income amount to be provided in all instances. Note that the Lender must confirm the income declared on the declaration with the borrowers in all cases.
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Substantiation.
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All documentation required as normal (apart from Self employed party/s tax returns).
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If refinancing debts, evidence of satisfactory conduct for last 12 months to be supplied for each debt being refinanced.
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Rates notice for each property owned as per balance sheet.
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Copy of last statement for each Credit/Store Card unless being refinanced (then last 12 months required). |
| 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.
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$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.
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$600,000 to 65% with security located in any category 3 postcode listing. |
| Repayment Type |
Variable and Fixed.
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Principal and Interest.
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Interest Only for 5 years. |
| Repayment Options |
Weekly, fortnightly, monthly.
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Payments can be made at any time provided require payment is made by due date. |
| Extra Repayments |
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| Split Loan Facility |
Up to six splits $5 monthly fee apply for first a/c only. |
| Offset |
100% Offset Account available for all Lo Doc Loans (up to six per loan) including fixed rates. $12monthly 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%.
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Residential Investment Maximum LVR 80%.
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Refinancing Maximum LVR 80%.
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For loans up to $500,000: Up to 80% for purchases and refinances.
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Vacant Land $350k to 80% (GE) or $500k to 80% (PMI) |
| Fees |
Application Fee $600 (includes the valuation of one security property)
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Additional Valuation Fee $275. (To the value of $1 million the Valuation Fee will be added to the Application Fee).
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Progress Inspection Fee $125. This fee is charged for each of the first and final builders payments
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Account Keeping Fees $NIL per month.
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Release Fee:$380.
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Switch Fee:$250.
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Cheques written - $0.75 per cheque.
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First 5 Electronic transactions Free then charges applicable.
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ATM withdrawal - $1.50.
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EFTPOS $0.65.
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All Deferred Establishment Fees: If the loan is fully repaid within:
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Y1 or Y2 - minimum $1,500 or 0.25% (whichever is greater).
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Y3 - minimum $1200 or 0.20% (whichever is greater).
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Y4 - minimum $900 or 0.15% (whichever is greater).
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(Calculated on the approved loan amount).
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Plus deferred LMI premium. |
| Enquire/Apply |
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| Other Low Doc Home Loans |
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| Other The Rock Building Society 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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