Archive for "December, 2009"
Difference between Low Doc Loans and No Doc Loans
December 19, 2009 | Comment 0
What's the difference? As a guide Low Doc Loans can be on either owner occupied, or investment properties. They require an income declaration. Should have an ABN for 2 years and be registered for GST. A normal LVR is 60% without mortgage insurance, and 80% with mortgage insurance. Rates on low doc loans are either at, or near home loan rates. Normally a term loan of 25-30 years. No Do...Read more.
Low Doc Loans to return through AOFM
December 8, 2009 | Comment 0
Low Doc Loans may be back with AOFM investment. Up to 10 per cent of loans funded under the next planned round of $8 billion in investment may be low doc, though still secured over the borrower’s home.... Full article from The Sheet ...Read more.
Westpac low doc loans rise .45%
December 1, 2009 | Comment 0
Westpac low doc loans rise .45% after RBA only moved .25%. This move by Westpac is proof that banks do and will move low doc loan rates as they please. Often we hear from low doc loan customers that they are concerned the non banks may be more expensive. This move by Westpac clearly dispels that argument. Treasurer, Wayne Swan has been less than impressed with Westpac's extra rate increas...Read more.
