Line of Credit Home Loans - Xplore - Deluxe Premium Line of Credit |
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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 |
Deluxe Premium Line of Credit |
| Interest Rate |
9.00% |
Comparison Rate
Estimated |
9.18% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,217.74 |
Total Paid
Estimated |
$439,055 |
| Establishment Fee |
$575.00 |
| Enquire/Apply |
 
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| Target Market |
The Xplore Line Of Credit Facility is a Home Loan that gives you the convenience of an unlimited free transaction account plus cheque book access. Whilst the Deluxe Full Doc Premium Facility gives you up to 15 free transactions each month plus cheque book access.
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Available to borrowers who are PAYG, and also to borrowers who have been self-employed or full-time investors for a minimum of 2 years.
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All Applicants must be citizens or permanent residents of Australia.
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Corporate Entities registered Australian company, partnership or trustee company acting for a family trust. |
| Acceptable Income |
Available to borrowers who are PAYG, and also to borrowers who have been self-employed or full-time investors for a minimum of 2 years.
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Corporate Entities Registered Australian company, partnership or trustee company acting for family trust.
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Serviceability: Acceptable loans must have a positive Cash Flow test (1.0 and above) calculated on the Lender’s income calculation Worksheet.
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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 $2M |
| Repayment Type |
Principle &Interest or Interest Only.
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Line of Credit
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Interest will be capitalised for the first 10 years where the Line of Credit facility is less than $500K and the LVR is less than 75%. In the case of split facilities the total of all loan facilities must be less than $500K and 75% LVR.
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Where credit limit exceeds $500K and/or LVR exceeds 75%, a minimum Interest-Only loan repayment is required.
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Additional loan repayments are accepted at anytime.
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Deluxe Full Doc Premium
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LVR must not exceed 85% when interest-only term exceeds 5 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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Borrowers can use a cheque book to access their available credit.
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Borrowers can use Direct Card to access cash via ATM or purchase goods or services via EFTPOS.
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Optional direct debits. Borrowers can use their available credit to make payment of other expenses. (eg. health insurance, mobile phone accounts, credit card etc.) |
| LVR |
Owner Occupied Maximum LVR 95%
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Investment Maximum LVR 95%
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Construction Maximum LVR N/A
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Refinancing Maximum LVR 95%
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Vacant Land Maximum LVR N/A
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Debt consolidation Maximum LVR 90%
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Refinancing Maximum LVR of 95% is only available for the refinancing of a single debt (the home loan)
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Cash out and Debt consolidation not available over 90%
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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 Line of Credit Home Loans |
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| Other Xplore Home Loan Products |
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