State Custodians Mortgage Company Construction Loan
Posted September 7th, 2010
and last modified February 23rd, 2012
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
When you sign up for a State Custodians Mortgage Company, construction loan, you will be dealing with a home loan provider that is regarded as a leader in the non-bank home loan industry because of its ability to pass on savings to its customers through lower interest rates.
The low interest rates offered on a State Custodians Mortgage Company, construction loan, has come about because you will be dealing direct with professional, salaried company employees at all times. You will not be paying extra money in order to pay commissions to any middlemen such as mortgage brokers or arms length commission companies, and all these savings go back to you, the home buyer.
A State Custodians Mortgage Company, construction loan, however, retains all the features and benefits expected in a first rate construction home loan, as well as giving you the ease of use of cutting edge online technology, along with a live human being always waiting at the other end of the line to discuss any areas of your loan that you want clarification on.
So, if you are planning to build your dream home, you can do no better than take out a State Custodians Mortgage Company, construction loan, because your longer term interests will be taken care of, the same as during the construction period, through a home loan that is specifically designed to keep your interest rate low well into the future.
State Custodians Mortgage Company (SCMC) Construction Loan includes:
- An SCMC construction loan that is available to owner occupiers as well as property investors, whether first home buyers or otherwise, can be repaid as principal and interest or interest only depending on your need to retain any extra cash flow. Repayments can be organized on a weekly, fortnightly or monthly basis.
- The loan can be taken out for up to 90% of the properties Loan Valuation Ratio (LVR). If however you wish to negotiate a loan over 80 percent LVR you can do so but you will need to take out LMI (the maximum LVR is 90%), providing that the loan remains within the range of a minimum amount of $100,000 and a maximum of $1,000,000 (certain terms and conditions will be applicable for this higher amount). The maximum term of a SCMC construction home loan is 30 years.
- A State Custodians Mortgage Company construction loan can contain up to four splits and it will contain unlimited free redraw facilities, a free 100 percent interest offset savings, all-in-one account, linked to the construction loan, an unlimited access free online loan account and a free unlimited access phone loan account, as well as full ATM, EFTPOS and BPAY facilities. Full salary crediting can be arranged.
- There is also an optional debit card attached to all State Custodians Mortgage Company home loans for approved customers – a Mastercard debit card can be used for all EFT transactions including internet and phone purchases. The annual fee for this debit card is $30.
The construction loan can be switched to a fixed interest rate loan if felt desirable and pre-approval can be given if required.
State Custodians Mortgage Company Construction Loan Fees:
- Legal fee, which is deducted from the loan – (average only).
- Valuation fee – $275.
- Draw down fee – $110 per draw down.
- Exit fee – $0 .
- Cancellation of settlement, fee – $390( payable if canceled by persons other that SCMC).
A SCMC construction loan carries with it no early exit fees. All SCMC home loans can be transferred to another property for a nominal fee of about $750 (conditions will apply).
A State Custodians Mortgage Company, construction loan, that is designed specifically for people building their own home, has an industry low interest rate that has resulted from the company not using mortgage brokers or commission agents but dealing directly with the customer. These savings have been passed on to the borrower.
To find out more about this fantastic loan and to complete a secure online application, follow this direct link through the State Custodians website
Read the State Custodians Mortgage Company Construction Loan terms and conditions.
| Minimum Loan Amount | $100,000 | |
|---|---|---|
| Maximum Loan Amount | $1,000,000 | |
| Maximum LVR | 90% | |
| Maximum Insured LVR | 90% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 6.34% | |
| Comparison Rate | 6.44% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | No |
| Application Fee | $0 | |
|---|---|---|
| Legal Fee | $440 | |
| Valuation Fee | $275 | |
| Service Fee | $0 | |
| Settlement Fee | $390 | |
| Exit Fee | $0 |
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 |
|
Ask A Question About This Product