Low Doc Home Loans - Xplore - 5 yr fixed Low Doc |
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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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Xplore Home Loan |
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| Home Loan Product Name |
5 yr fixed Low Doc |
| Interest Rate |
8.94% |
Comparison Rate
Estimated |
8.49% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$1,200.46 |
Monthly Payment
Estimated |
$1,110.46 |
Total Paid
Estimated |
$405,575 |
| Establishment Fee |
$575.00 |
| Enquire/Apply |
 
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| Target Market |
The LoDoc Home Loan is designed for borrowers who do not wish to provide extensive financial statements or tax returns. These loans are predominantly for investment or business purposes.
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Available to applicants who are:
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self-employed or full-time investors, and have been in business for a minimum of 2 years. Applicants must disclose an ABN which has been registered for a minimum of 2 years. Where the applicants declare a net profit of $75,000 or more, the ABN must be registered for GST purposes.
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citizens or permanent residents of Australia.
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Family Trusts, Property Holding and Trading Companies, that have been in business for a minimum of 2 years.
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(Please note: An applicant who derive income as a salaried employee is not deemed to be self-employed.) |
| Acceptable Income |
No supporting documentation required for self-employed applicant/s
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Stated income and A&L statement required
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Co-borrowers may be PAYG and must provide evidence of income. The number of PAYG applicants must not exceed the number of self-employed applicants.
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Serviceability: Acceptable loans must have a positive Cash Flow test and above) calculated on the Lender’s income calculation Work sheet.
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Declaration of Purpose (non-Code loans only). |
| Loan Term |
30 years |
| Loan Size |
Minimum loan size $30K
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Maximum loan size $1M |
| Repayment Type |
Principal and Interest.
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Interest-Only terms from one to ten (1-10) years. |
| Repayment Options |
Weekly, fortnightly, monthly or twice monthly. |
| Extra Repayments |
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| Split Loan Facility |
Maximum of 4 splits allowed at no extra cost.
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Borrowers can have their loan accounts split a maximum of four ways with separate statements issued for each loan split. Minimum split size is $20k. |
| Offset |
Additional repayments can be made at any time on all variable rate facilities, therefore reducing the interest charged to the loan. |
| Redraw Facility |
Unlimited free redraws to nominated bank account.
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No minimum redraw amount.
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Funds are transferred to borrower’s nominated bank account via direct credit within two business days.
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Can be arranged using the Internet or telephone transactional services.
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Direct Card for ATM and EFTPOS transactions |
| LVR |
Owner Occupied Maximum LVR 80%
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Investment Maximum LVR 80%
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Construction Maximum LVR 80%
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Refinancing Maximum LVR 80%
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Vacant Land Maximum LVR 80%
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Debt consolidation Maximum LVR 80%
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Note Loan amounts subject to LVR and property location refer to Lender |
| Fees |
Commitment Deposit $300 per property (not refundable
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If loan application does not proceed to settlement for any reason (including applications that are cancelled/withdrawn) all processing costs will be deducted from deposit. Any costs over and above the $300 are payable by the applicants) plus.
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Standard Valuation fee: Indicative $275.00
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Standard Legal documentation fee : Indicative $434.50 (Displayed as Mortgage Prep Fee)
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No Account keeping fees
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No Statement fees
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Other fees may apply for some transactions.
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Line of Credit Facility
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No standard transaction fees.
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Unlimited free standard transactions per month. Standard transactions include standard and additional repayments from the nominated bank account and redraws to the nominated bank account.
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No non-standard transaction fees. Unlimited Free non-standard transactions per month (Non-standard transactions include Direct Salary Credits, Other Income Credits, BPAY Credits, Direct Card transactions,Cheque withdrawals and optional Direct Debits.
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If the loan is fully repaid or discharged within the first five years of the loan period, an early repayment fee of approximately 2.5 times the notional monthly will apply (UCCC regulated loans only). Early repayment or discharge of non-code loans incurs higher penalties. For early repayment of loans over $500K, a deferred LMI fee is also payable.
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Deluxe Full Doc Premium
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15 Free non-standard transactions per month . Non-standard transactions include Direct Salary Credits, Other Income Credits, BPAY Credits, Direct Card transactions, Cheque withdrawals and optional Direct Debits.
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If the loan is fully repaid or discharged within the first five years of the loan period, an early repayment fee of approximately 1.5 times the notional monthly repayment will apply (UCCC regulated loans only). Early repayment or discharge of non-code loans incurs higher penalties. Break costs apply for an early discharge during a fixed rate period. For early repayment of loans over $500K, a deferred LMI fee is also payable. |
| Enquire/Apply |
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| Other Low Doc Home Loans |
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| Other Xplore 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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