| CLIENT PROFILE
|
Eagle's No Doc loans suit self-employed or full time investors who are unable to produce financial statements at the time of application.
Borrowers must disclose their ABN but there is no time limited on the period it must be held for.
Loans are available to both indivuals and corporate entities - registered Australian companies, partnerships or trustee companies. |
| LOAN TERM |
30 Years |
| MAXIMUM LOAN SIZES |
No Doc -
80%LVR - $750,000
75% LVR - $1,250,000
|
| SERVICING REQUIREMENTS |
A completed No Doc Declaration for each borrower |
| INTENDED USE |
Owner Occupied / Investor |
| REPAYMENT OPTIONS |
Principal &
Interest (P&I)
Interest Only (IO) |
| INTEREST ONLY OPTIONS |
Up to 5 Years then auto converting to P & I |
| CREDIT REPORTS |
Clear credit is generally required. However, loans may be approved with credit impairment if they are satisfactory non financial defaults. An interest rate loading of 0.25% will apply. Full written explanations must be provided. |
| ADDITIONAL REPAYMENTS |
Variable interest rate options only |
| SUBSTITUION OF SECURITY |
Available in line with credit criteria - simultaneous settlement required. |
| LOCATION |
All metro and category 1 areas. Outside metro or major regional areas an interest rate loading of 0.35% will apply |
| STATEMENTS |
1/2 Yearly |
| REDRAW FEES |
Available - Minimum $500. 2 free per month/$175 thereafter |
| FIXED INTEREST |
Available on request |
| RISK FEES |
No Doc -
80% LVR - 1.25%
75% LVR - 1.00% |
| BORROWERS LEGAL EXPENSES |
At Borrowers expense |
| LENDERS LEGAL EXPENSES |
At Borrowers expense |
| VALUATION EXPENSE |
$375 payable on application |
| APPLICATION FEE |
1.5% plus GST or $1,500 whichever is the greater. |
| CAPITALISATION FEE |
Fees can be capitalised to a maximum of 1.5% of the proerty value. The fees allowed to be capiatalised are the risk fees, legal fees ($350 only), title insurance and completion fees. |
