Resi Pro Lo Doc
Resi Pro Lo Doc
The people at Resi Home Loans understand that self-employed people often have fluctuating incomes. Seasonal business changes, waiting for payments for creditors, or just waiting to complete a contract before invoicing a client can mean cash flow becomes unpredictable. This makes verifying income difficult for many self-employed people.
Unfortunately, most banks require a full set of accountant-created taxation returns or financial documents for the previous two years in order to apply for a home loan. As any self-employed person knows, this can be extremely difficult.
The Resi Pro Lo Doc home loan allows self-employed borrowers to apply for a mortgage with a greatly reduced amount of financial documentation. You will also need to verify that you’ve been self-employed for a minimum of two years.
Featured Resi Home Loan
The Smart Option Home Loan offers you a super low rate fixed for 1 year, Plus no ongoing, no application fee.
- Interest Rate of 6.49%
- Comparison Rate of 6.99%
- Application Fee of $0
- Maximum LVR With LMI: 95%
- Minimum Borrowing: $50,000
- Maximum Borrowing: $20,000,000
Flexible Features
The Resi Pro Lo Doc home loan is designed to be flexible, to allow borrowers plenty of options. Payments can be set according to cash flow needs, so weekly, fortnightly or monthly payments are acceptable.
Extra repayments are encouraged, and can be made at any time without incurring any penalties or fees while the loan is still variable. If you need those extra repayments back at any time, the redraw facility allows you to withdraw those payments at no cost. This can be done online or via phone banking.
The variable rate loan can be switched over to a fixed rate loan at any time. Keep in mind that there may be fees for paying to many extra repayments into a fixed rate loan. This is where you have the option of fixing the entire loan amount, or splitting the loan so that some of it is fixed and the remaining portion stays variable.
This type of split-loan facility allows you to take advantage of the flexibility of a variable rate loan, while still having the protection against interest rate hikes on the fixed portion. It also gives you the benefit of being able to make your extra payments into the variable portion so you don’t incur any penalties by paying into the fixed portion.
Rates and Fees
The rates and charges for the Resi Pro Lo Doc home loan are as follows:
| Fee Type | Rate/Fee Charged |
| Variable Interest Rate | 7.42% |
| Application Fee | $0 |
| Ongoing Annual Fee | $330 per year |
| Valuation Fee | $236.50 – $350 |
| Lender’s Documentation Fees | >$396 |
Accessing Your Accounts
Resi Home Loans make it very easy to access your accounts. Log into your secure Internet banking platform at any time to view your account balances, check your statement, make payments or transfer funds. Phone banking is also available at any time of the day or night.
You are able to apply for a debit card as part of your account if you wish to pay bills using your own funds.
Related posts:
- Resi Smart Pro Home Loan
- Resi Flexi Fix Home Loan
- Resi Lo Doc Home Loan
- Resi Lo Doc Pro Lite Home Loan
- Resi Complete Home Loan
- Resi Flexi Fix Lite Home Loan
- Resi Lo Doc Line of Credit
- Resi Flexi Options Home Loan
- Resi Non Resident Home Loan
- Resi Commercial Property Loan
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
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