I know I have done this exercise before as have several others on this forum, but I thought someone may have come across a better LVR than 60% (without mortgage insurance)on a lo doc loan with one of the banks with a reasonable interst rate. I kinow new products are coming out continuosly so I would be interested in any feedback
Thanks
markk
Happy Hunting
http://www.kentscollections.comMark
80% lodoc is available without mortgage insurance at a competitive interest rate.
The lender pays for the premium.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Or did you mean NODOC? Now 70% at a standard resi rate.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
No Doc finance is available @ approx 6.90% 6.99% etc at 70% LVR funder pays the LMI, ABN can be held for 1 day with no minimum net assets, also available for companies and Trusts.
Low Doc products @ 80% LVR is available where the funder covers the LMI Rams etc, higher rates apply approx. 7.39%
80% Low Doc is available at lower rates from a wide range of lenders if your content to pay the LMI premium on lending over 60% LVR, Cheers.
Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Thanks for the input guys.
I am looking for an interest rate in the high 6’s with at least 70% LVR with no mortgage insurance (or at least paid for). I went to St george who have my current loan and they quoted me $8000 for mortgage insurance which I had to pay for an 80% lend. Prop value is $800000.00
Someone mentioned Bankwest to me
markk
Happy Hunting
http://www.kentscollections.comHi Mark,
What you are looking for is certainly achievable. I suggest you speak to a broker and ask for the best low doc products without LMI.
Regards,
Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044I have spoken to my broker but he has trouble getting anyone above the 60% mark without LMI
Any suggestions as to which institutions I could try?
markk
Happy Hunting
http://www.kentscollections.comHi Mark
May I suggest that you look closely at some of the signatures of the people who have posted on this thread. Your answer may very well lie in a call or two to these numbers
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Have a great lo doc with Rams for a HDT, sadly..they no longer offer it..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorhave a look at st george i see they have 5 rs at 6.59% ithink the lvr is 70% a good mortgage broker should be able to help you
never never never sell
St George still charge LMI over 60% but will go to 80% on a Lodoc basis.
I believe the issue is the fact of trying to find a lender who will go to 80% and not charge LMI of which i can think of 6 /7 at least.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
There is currently a special for 6.99% pa with no LMI up to 80% LVR on homes/residential investment properties. I am happy to give you full details.
Anita Marshall
Advanced Finance Solutions
http://www.advancedfinance.com.au[biggrin]
[email protected]
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