AIMS Power Home Loan
Full Doc Product
| Purpose |
To assist with the purchase or refinance an owner occupied or investment residential property. |
| Borrower Types |
- Individual or partnership
- Business/Company
- Trust (Discretionary or Unit) |
| Security |
- Registered First Mortgage
- Must be zoned for residential use
- A house, villa, home unit, townhouse or duplex
- Other security types may be accepted, subject to limitations
|
| Unique features |
Securities with less than 50 m2 but at least 40 m2 living area, located in a desirable and high demand capital city metropolitan location
|
| Minimum Loan Amount |
$100,000.00 |
| Maximum Loan Amount |
$1,000,000.00 |
| Loan Term |
3 years |
| Loan to Valuation Ratio(LVR) |
Up to 70% |
| Interest Rate |
- Variable rate, refer to Pricing Matrix below
- Fixed rate at request
|
| Repayment Type |
Interest Only |
| Repayment Method |
Direct Debit |
| Repayment frequency |
Monthly |
| Application Fees |
Upfront $1,950.00 (include one valuation fee) |
| Lender's Mortgage Insurance |
n/a |
| Legal Fee |
n/a |
| Account Keeping Fee |
n/a |
| Risk Fee |
Refer to Pricing Matrix below |
| Additional Repayments |
Available - Unlimited on variable rate loan only |
| Early Repayment Fees |
Not applicable |
| Redraw Facility |
Available |
| Splits |
Available at request |
| Vacant land |
Not Available |
| Construction |
Not Available |
| Internet Access |
Available |
PRICING MATRIX
|
|
LVR
|
|
LOAN AMOUNT
|
Up to 50.00%
|
50.01-70.00%
|
| Interest Rate
|
Comparison Rate
|
Risk Fee
|
Interest Rate
|
Comparison Rate
|
Risk Fee
|
| $100K - $500K
|
6.50%
|
6.68%
|
1.20%
|
6.70%
|
7.14%
|
4.99%
|
| $500K - $1M
|
6.90%
|
7.09%
|
1.20%
|
7.10%
|
7.57%
|
4.99%
|
All comparison rates are calculated on the basis of secured credit of $150,000 over a 3 year term.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.