Variable Rate Home Loan - Heritage - Investment Standard Variable

Comparison Rate	7.13%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,337.33
Total Amount Paid Est.	$483,720
Establishment Fee	$600.00

7.05%

Target Market
To purchase property for Investment purposes, Investment Refinance for any worthwhile purpose. ,
Construction, extension or renovation of a residential Investment property. ,
Purchase vacant land. ,
Consolidation.

Acceptable Income
Self Employed, Salary & Wage earners. ,
80% of Second Job ,
75% of gross rental allowable income (60% high rise, 0% inner city apartments) ,
Car Allowance: Supplied and fully maintained company vehicle, an allowance of $150 net per week will be allowed in qualification. ,
Supplied with a limited use company vehicle or fuel card, an allowance of $50 net per week will be allowed in qualification. (Limited use vehicle is one that can be used by the applicant to drive to and from work on a daily basis. Fuel card must be paid or reimbursed by the applicant’s employer). ,
Family Allowance children aged < 11 years only. (payments to be received for a min of 5 yrs) ,
Overtime & Commission Income: Not Acceptable forms of income.

Home Loan Loan Term
Maximum: 30 years (P&I).
Maximum: 5 years (Interest Only)
Note Interest Only loan is fully repayable once IO term matures or a new application submitted.

Home Loan Loan Size
Minimum: $20K ,
Maximum unlimited (Refer BDM for loans over $750k).

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Home Loan Repayment Type
Principal & Interest or Interest Only.

Repayment Options
Weekly (Monthly /4), Fortnightly (Monthly /2) or Monthly payments. ,
Ability to skip repayments if additional repayments have been made. ,
Change of term available. ,
Ability to vary repayments.

Extra Repayments
Unlimited

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Split Loan Facility
Yes.

Offset
Yes - 100% daily offset (minimum balance of $500)

Redraw Facility
Yes ,
Fee <$20,000 = $20K. ,
Fee > $20,000 = $20K+ current title search fee.

LVR for Variable Rate Home Loan - Heritage - Investment Standard Variable

Construction 90% including LMI ,
Vacant Land: 90% including LMI ,
Refinance: 90% including LMI ,
Investment 90% including LMI ,
Consolidation: 85% plus LMI maximum of 4 debts

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Fees for Variable Rate Home Loan - Heritage - Investment Standard Variable

Establishment Fee: $600 which includes First security valuation if required to a maximum amount of $330). ,
Additional valuations are $205min. (maybe higher depending upon Property Valuation Figure) ,
Monthly Administration Fee $5 per month (included in repayments) ,
Deferred Establishment Fee ($0 to $600) if repaid within three years of initial funding.., on a pro-rata basis ,
Early Repayment Penalty if repaid within first year of initial funding: ,
Investment: 1 months Interest. No Early repayment fee applies to payments in advance or capital reductions of any amount. ,
Further Advance Fee $600 ,
Switch Fee $100-$600 depending upon product being switch to.. Investment Interest Only Loans - can not be switched or refixed, application is to be rewritten/renegotiated. ,
Trust / Company Loan $250 additional to the application fee to partially offset solicitors charges where documents are outsourced ,
Multiple Securities Additional fee of $100 charged when there is a second or subsequent security for a loan and the security is in the same state ,
Additional fee of $150 charged where there is a second or subsequent security for a loan and the security is from a different state ,
Settlement Fees on Purchase/Refinance: ,
Agent’s Settlement Fee $0 - $250 Max. (Varies from State to State, Displayed in Mortgage Prep Fee) ,
Telegraphic Transfer Fee $0 - $35 Max. ,
Settlement Fee on Payout of Existing Loan: $200. ,
Split: Splitting at initial application only requires one application fee, however legal and settlement fees will apply for both loans. ,
Build loan fee per draw down (x5): $50 per draw down ,
Progressive Valuation (x2): $110 per inspection plus mileage if applicable