This loan is suitable for
A person who is self employed - Method 1: Where your customer cannot provide compliant full financials, you can submit the available financials along with the internal management accounting records supported by Australian Taxation Office (ATO) verified Business Activity Statements (BAS) for the most recent 12 consecutive months.
Method 2: You must now review the last two year's financial statements for the customer's business and confirm a profit in both years before using the average of the two most recent Personal TANs to verify income. Once reviewed, submit the two most recent Personal TANs with the financial statements with the application. Where there is a loss in either year, use Method 1 to verify the customers' income.
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A guarantor can be used - Eligible Guarantors:
Parents/In Laws, Spouse / Defacto Spouse, Child / Siblings
Exceptions (case by case basis):
Grandparent, Grandchild, Former spouse, Uncle / Aunt, Niece / Nephew, Individuals who are self funded retirees.
Home Loan Loan Term
Loan term up to 30 years
Home Loan Loan Size
For loans with a minimum value of $150,000 and a maximum of $0
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Repayment Options
Weekly repayments accepted.
Extra Repayments
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Split Loan Facility
Not available.
Offset
Not available.
Redraw Facility
Redraw is available.
LVR for Variable Rate Mortgages - Commonwealth Bank - No Fee Variable Rate Home Loan
Maximum available LVR is 95%
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Fees for Variable Rate Mortgages - Commonwealth Bank - No Fee Variable Rate Home Loan
Monthly Fee $0.00
Annual Fee $0
Establishment Fee $0
Discharge Fee $0
Legal Fee $0
Portability Fee $0
Settlement Fee $0
Switching Fee $0
Early Termination Fee $0
