No Doc 65
The loan has the following features:-
Up to 65% (60% in WA) of commercial property valuation.
Please fill out the application form, except for income which is to be left blank.
True No Doc 65 Commercial Investment Loan
Fixed 1 year 9.15%
Then reverts to variable rate currently at 10.25%
Valuation
Legals
No Application fee
Acceptance Fee 1.1%
No BAS
No Income declaration
No accountants letter
No Lenders Mortgage Insurance
No title insurance costs
No scheduled loan reviews
No company charges
No ongoing fees
25 year loan, 7 years Interest only, 18 years P/I
Early Payout* is
Years 1-4, 4 months interest
Yr 5, 2 months
Yr 6, 1 month
Yr 7, 1 month
*Early payout is where 25% or more of the loan is paid out.
NB. With the fast changing credit environment think carefully before considering any short term No Doc Commercial Loans of either 1 or 2 years. This is a true term loan. It does not have annual reviews. It is a 25 Year Set and Forget loan.
