State Custodians Mortgage Company Lo Doc 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
Many people, especially the self employed and contract workers, are not able to produce sufficient documentation to satisfy a lender that they are suitable to service a home loan. This is no longer true as a State Custodians Mortgage Company lo doc loan has been specially designed to accommodate just that sector of our community.
A State Custodians Mortgage Company lo doc loan is a quick, simple and hassle free mortgage, specifically designed for self employed home buyers who have difficulty coming up with all the necessary financial documents required to prove regular income and long term ability to service a home loan. The main document that we do insist on however is the previous 12 months BAS statements.
A big attraction a State Custodians Mortgage Company lo doc loan has over many other non-bank lenders, is that it uses cutting edge online technology to undertake much of its business with customers. We deal directly with professional, salaried staff of the company itself and not some arms length mortgage broker or commission agent. Whenever you feel you do need to speak to a member of staff on any matter pertaining to your loan, you will be surprised to find a real person on the other end of the line – not a computer with a strange dialect who asks you continuously repeat words – and that is usually after a long wait.
A State Custodians Mortgage Company lo doc loan is available to owner occupiers and property investors alike whether first home buyers or not but you will need to take out Lenders Mortgage Insurance (LMI) to allow you to access up to 80% of Loan to Value Ratio (LVR). The mortgage insurance can be capitalized if you wish.
The maximum amount of money that can be acquired with a lo doc home loan, under certain terms and conditions, is $1,000,000 and the loan can be pre-approved if requested.
Repayments of a lo doc home loan of up to 30 year terms can be arranged to pay off the principal and interest or interest only with weekly, fortnightly or monthly payments. Fixed interest rate periods can be arranged when found to be beneficial. Top ups are allowed but are conditional and will attract certain fees.
A State Custodians Mortgage Company lo doc loan can accommodate up to four splits and you are able to access an unlimited free redraw facility, a free 100 percent interest offset all-in-one account, an unlimited access free online loan account and a free phone loan account all with ATM,EFTPOS and BPAY facilities attached.
State Custodians Mortgage Company lo doc loan fees include the following:
- Legal fees – $385 (this fee is deducted from the loan money and the figure quoted is an estimated average only).
- Valuation fee – $275.
- Cancellation of settlement, fee – $390 (this fee is only payable if Cancellation is instigated by a person other than an employee of State Custodians Mortgage Company).
- $0 exit fee.
- 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.
A lo doc home loan is portable. It can be transferred to another property for a nominal fee of around $750 (conditions apply).
A State Custodians Mortgage Company lo doc loan gives a borrower an opportunity to buy a home when unable to produce sufficient financial documents to qualify for a regular home loan. The main proof of income required for a lo doc loan is the previous 12 months BAS reports and a good credit history.
If you are interested in applying for the State Custodians Mortgage Company Lo Doc Loan, you can follow this secure link through to the official website and make an application today.
Read the State Custodians Mortgage Company Lo Doc Loan terms and conditions.
| Maximum Loan Amount | $1,000,000 | |
|---|---|---|
| Maximum LVR | 80% | |
| Maximum Insured LVR | 80% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 6.97% | |
| Comparison Rate | 6.88% | |
| 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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