What is the interest rate for a company with full doc?
And is it the same rate as a person doing the loan or is it higher because its a company?thanks
Hi Keiko,
It depends on whether or not you are borrowing against residential or commercial security.
If you are borrowing for a residential property, then the home loan rates are the same for companies and individuals.
If you are borrowing for a commercial property, then the commercial loan rates are based on a whole different set of criteria, and may vary depending upon:
– Strength of the company (based on balance sheet)
– Profitability of the company (based on profit and loss)
– How long the company has been trading
– Expertise of the directors
– …and many more.If you wish to go into further detail I am happy to estimate some approximate rates for you and cross check them with Rich, Terry and some of the other brokers on this site.
With some lenders it can be the same as if the applic was being done by an individual.
Soemtimes there maybe some added legal costs but other than that all should be equal.
Richard Taylor | Australia's leading private lender
Just make sure you pick a lender where for residential lending rates are the same for company or person. Most brokers should be able to guide you here
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