Personal Investor




General Details
Institution: MyRate
 Contact Number: 1300 663 558
Product Name: MyRate Lo-Doc Loan


Product Details
Availability: PAYG (as co-borrower only), self employed and company borrowers. No Trusts. Regulated and Unregulated Loans. PAYG at least 12 months in the same firm or Industry. Self Employed operating in the same business for a minimum of 2 years. Must be at least a permanent Australian Resident. No Retirees.
 Loan Purpose: Owner Occupied OR Investment
Min Loan Amount (,000):
Max Loan Amount (,000 with Morgage Insurance): 1000000
Max Loan Amount (,000 without Morgage Insurance): 1500000
 Max Loan to Value Ratio (without Morgage Insurance): 60%
Max Loan to Value Ratio (with Morgage Insurance): 80%
 Max Loan Term: 30

Interest Rates
Interest Rate: 8.50


Fees
Application Fee: $0
 Settlement Fee: $0
Other Fee: Non proceeding fee of $220 will be charged if after MyRate has issued a conditional approval offer and obtained a standard valuation report you decide not to proceed to settlement with MyRate or your valuation does not meet credit requirements. Additional charges may apply if loan agreements have been issued or additional valuation costs incurred. Deferred Establishment Fees Year 1: 1.00% of the original loan amount Year 2: 0.80% Year 3: 0.60% Year 4: 0.40% Year 5: 0.20% 6 + years 0.00%


Features
Weekly Repayments:
Fortnightly Repayments:
Monthly Repayments:
Extra Repayments:
Repayment Comments: Unlimited additional repayments with no minimum amounts can be made on variable rate products at any time with no fees
 Redraw:
Min Redraw Amt:
Redraw Comments: Unlimited redraw with no fees or minimum amounts on variable rate products. Bpay, Internet, Phone
Portability:
Portability Fee: 0
Split Loan: