Residential loans

OUR Residential Products

In accordance with recent guidelines Investor loans are limited to a 70% LVR for all loan types. Interest Only is now for a maximum of 5 years.

Full Doc Products:   MO Homelend Balanced Term Loan

                                 MO Homelend Line of Credit

                                 MO Homelend 100% Offset

  • 95% LVR inclusive of Lenders Mortgage Insurance. FHOG can be counted as a deposit. This product is designed for a first time purchaser

  • 90% : Refinances available

A full Doc Loan  requires the following:

If you are a PAYG employee:

  • Last 3 payslips

  • Last months credit card or other non home loan account

  • Last months  statement showing salary crediting account

If you are self employed:

  • Last 2 years Tax Returns and financials

  • Notice of assessment

  • Last months credit card or other non home loan account

  • Last months  statement showing salary crediting account

LOW Doc  MO Homelend Lo Doc and Lo Doc Plus

  • These products do not carry a risk fee.

  • Up to 70% LVR is accountants verified: Without doubt the best on the market.

  • 70.01% to 80% requires Accountants Verification, BAS , Trading Statements

    • Construction Loans available on all Products

    • We can lend on acreage properties to 10 hectares. LMI guidelines apply.

    • We also have specific products for those who may be credit impaired or need to borrow 85% Low Doc on existing buildings. These products carry a risk fee.

Refinances

On all refinance we require the income verification for your employment type plus the following:

  • 6 months home loan statements showing good conduct

  • 6 months statements on all other facilities being refinanced showing good conduct

  • Last months credit card or other non home loan account

  • Current Council Rates Notice

  • Current rental statement from the property manager if this is an investment property that is being refinanced

Purchase

If you are purchasing a property we additionally require the following:

  •  a complete copy of the contract for the purchase.

  • Rental appraisal on the property that you are purchasing

NON-RESIDENT LOANS

All of the above requirements for a purchase are required as well as  additional requirements to meet the Non- Resident Guidelines of our Private Funder.