Resi SMARTPRO
Product Highlights:
- Construction up to 90% LVR
- Investment Purchase and refinance and construction
- Owner occupied Purchase, refinance, cash out and construction
- No need for Genuine savings if LVR is below 90%
- 6 months rental statements can be used as genuine savings contributions
- FHOG can be used as funds to complete (released at slab stage construction)
- Cash out up to $250,000 with just letter from applicant for use.
- Vacant land purchase up to 95% LVR (90% for Investment) INC LMI
- Flexable maternatity income policy
Acceptable income type:
- Disability Pensions - exempt from asset/income test, i.e. Permanent Blindness
- Widow Pensions
- Foster Care Payments
- Supplement Payments (related to certain pensions)
- Defence Force Reserve Income
- Family tax A & B (child must be under the age of 12)
- Employee allowance, Bonus, Commissions, Overtime
- Self-employed more than 2 years
- 6 Months Casual or contract employment
Rural Security:
A Home Loan Product can be offered up to a maximum LVR 70%, subject to the following criteria being met:
- Less than 50 hectares (120 acres) in size
- Property not generating (or be 'intended' to generate) gross trading income of more than $20,000 per year and
- Any debt servicing not being reliant on the trading income generated from the Rural Property
Current Smartpro Promotion:
NO ongoing fees, NO valuation fee (standard valuation), NO application fee and only $330 legal fees. SMARTPRO is one of the most competitive YBR products you can offer your clients. Rates start at 3.79% Owner OCC.
For all Smart Pro loans over $250,000, we are waiving the standard valuation fee and also waiving the on-going fees for the life of the loan. Loans must be submitted by close of business 22nd April 2019 and settle by Friday, 26 July 2019. Offer applies to new loans only, multiple or prestige properties may incur additional valuation charges.
For any scenarios or detailed policy questions please email brokersupport@resi.com.au or call 1800 737 448 (Option 1)