State Custodians Mortgage Company Lo Doc Fixed
Posted September 7th, 2010
and last modified January 31st, 2012A State Custodians Mortgage Company fixed lo doc home loan is a simple quick, trouble free mortgage, catering for self employed borrowers who have difficulty providing full financial statements, other than the last 12 months BAS, and other documents regarding their income, in order to obtain a regular home loan.
A main feature of a State Custodians Mortgage Company fixed lo doc loan is that, besides its low interest rate it has retained many benefits, particularly its use of cutting edge online technology with a real live human at the other end of the line every time you need to discuss any particular aspect of your mortgage.
With a State Custodians Mortgage Company fixed lo doc home loan you will need to take out Lenders Mortgage Insurance (LMI) to access up to 82% of Loan to Valuation Ratio (LVR). The mortgage insurance can be capitalized if the borrower wishes to do so. The maximum size of the loan is restricted to $1,000,000 with certain terms and conditions to be complied with. Loan pre-approval can be arranged when requested.
A State Custodians Mortgage Company fixed lo doc loan is available for both owner occupiers or property investors to access, be they first home buyers or otherwise, on a repayment basis of principal and interest or interest only. The loan can be taken out for a maximum term of 30 years with repayments made on a weekly, fortnightly or monthly basis. Top ups are allowed but fees and conditions will apply.
Although a State Custodians Mortgage Company lo doc fixed loan is basically a fixed interest rate home loan, a portion of the loan can be structured to be repaid at a variable interest rate. The loan can actually carry up to four splits overall and although you can access a free redraw facility it will not be available on the fixed amounts, neither is the free salary crediting. There is unlimited access to the free online loan account as with the free phone account. All accounts have ATM, EFTPOS and BPAY facilities attached.
State Custodians Mortgage Company, fixed lo doc home loan fees and charges:
- Legal fees – . (this fee that is deducted from the loan amount is an estimated average figure only).
- Valuation fee – .
- Discharge fee – $350.
- Cancellation of settlement, fee – .(only payable when the cancellation is brought about by anyone other than an employee of State Custodians Mortgage Company).
- 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.
No exit fee.
The loan is transferable to another property under certain conditions, and is therefore fully portable, but there will be a nominal fee of $750 to pay to access this feature (conditions apply).
A State Custodians Mortgage Company fixed lo doc home loan can be of great benefit to those wishing to buy their own homes but are unable to provide the usual documents regarding income. BAS statements completed over the previous 12 months will be necessary however.
You can apply for the State Custodians Mortgage Company Lo Doc Fixed Loan by following this secure link through to the official website today.
| Maximum Loan Amount | $1,000,000 | |
|---|---|---|
| Maximum LVR | 82% | |
| Maximum Insured LVR | 82% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | No |
| Application Fee | $0 | |
|---|---|---|
| Legal Fee | $385 | |
| Valuation Fee | $275 | |
| Service Fee | $0 | |
| Settlement Fee | $390 | |
| Exit Fee | $0 |
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