Hi Guys!
What sort of rates are available on a Lo Doc at 90% LVR in a personal name..
Do rates change if it becomes 95%LVR?
Also if you could include any fees, etc that are relevant it would be great.
Cheers,
GregHi Grreg
There are a couple of lenders that offer 90% Lodoc loans for the self employed and rates vary.
For a 95% LVR you are looking at circa 8.99% reducing after a 3 year period.
Application / Valuation / Legal Fee – $1250
Lender Mortgage Insurance – 3.45% of the loan amount + GST + State stamp duty
If interest only then add 10 points to the LMI for each year interest only i.e for 1 year 3.55% +
Deferred Establishment Fee – Year 1 – 2.5%
Year 2 & 3 – 2%
Year 4 & 5 – 1.5%Certainly not cheap but serves a purpose and a stepping stone to build up equity.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
A 90% low doc product is also available from the same lender @ 8.84% and 3.25% for LMI, 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.
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