Refresh Near Prime Refresh Near Prime LVR >90% up to 95%
6.84%p.a Standard Variable
About Australian First Mortgage
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
Loan to Value Ratio
Borrow up to the maxium of 95% of the value of the property.
Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.
However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.
- Capitalise LMI
For Construction, Equity, and Owner Occupied in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 10 - 40 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Non Conforming
- Genuine Saving
- Not Required
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.
Some features you may wish to consider include:
- an offset account;
- ability to make extra repayments;
- a redraw facility; and
- linked credit card and savings accounts;
- ability to split your loan between fixed and variable interest rates
- Offset Account
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repayments Fortnightly, Monthly, and Weekly.
- Interest Only Option
- Max Interest Only
- 0 years
Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Monthly and annual fees and charges during the loan period.
- Ongoing Monthly
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
Loan designed for Near Prime borrowers who do not fit the traditional lending criteria of the major banks, but have a clean credit history for the last 3 years. Special Features No LMI required Credit Risk Fee payable. No credit scoring Defaults =1000 ignored No limit on number of debts to be consolidated, ATO debts, Business debts are acceptable purposes Purchase of business equipment permitted Refinance of other non-confirming or private loans Loan Amount inclusive of fees cannot exceed 95% LVR Acceptable Applicants Private Individuals, Companies, Trusts (Maximum 4 Borrowers). Acceptable Securities Residential securities in major cities and towns Lifestyle properties up to maximum land size of 25 Acres (10 Hectares) Maximum two securities per development Restriction on units within high density post codes apply, Unit blocks cannot comprise of more than 35 units when located within a high density postcode (Speak with your BDM for more details) Units <1 year old max LVR 75% Unacceptable Securities Construction loans, Commercial properties, Relocatable and mobile homes, services apartments, Studio apartments, Resort complexes, retirement villages, bedsits, Heritage listed buildings, Vacant land. Acceptable Loan Purpose Purchase or refinance of owner occupied and investment properties. Finance available for a variety of purposes including payment of ATO debts and purchase of business equipment. Cash out for business and/or personal purposes, limited to 20% of the loan if LVR >85%.
Mortgage Risk Fee (MRF) replaces LMI. Maximum LVR 95% inclusive of any capitalised Risk Fee. Risk Fee required for all LVRs. An additional 0.50% MRF loading will apply for specialist loan sizes >$1M. Refer to product guide for further information.
Title Protection Fee $400. Establishment Fee includes one standard valuation (up to $1m value, Refer to policy for details) Applicants to pay Legal Fees and Title Protection Fee, Quoted Legal fee includes legal disbursement fee and fee will vary depending on solicitor. Construction: Est fee $999