Resi Lo Doc Home Loan

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Headline interest rate
7.48%

Max LVR
80%

Annual fee
$0

Moneybuddy says

Useful home loan from Resi for self-employed people wishing to avoid proof of income tests and other hassles. Offers some good flexibility options but a slightly higher rate than other Resi loans.

The Basics

Interest type Variable rate

Headline interest rate 7.48%

Max LVR 80%

Annual fee $0

The cool stuff: features

Draw down loan progressively -

Insurance details Payable by borrower if more than 60% LVR

Loan is Transferable Yes

Line of credit available Yes

Product suits Owner - Occupier

The Facts & Figures

Introductory rate -

Introductory term -

Interest rate 1 year 0%

Interest rate 2 years -

Interest rate 3 years -

Interest rate 4 years -

Interest rate 5 years -

Interest rate 7 years -

Interest rate 10 years -

Interest rate 15 years -

Comparison rate 1 year -

Comparison rate 2 years -

Comparison rate 3 years -

Comparison rate 4 years -

Comparison rate 5 years -

Comparison rate 7 years -

Comparison rate 10 years -

Comparison rate 15 years -

Comparison rate 7.53%

Minimum loan term -

Maximum loan term 30 years

Min loan amount $30,000

Max loan amount $1,500,000

Early repayments Yes

Redraw facility Yes

Repayment holiday -

Ability to split loan Yes

Extra repayments Yes

Offset account available -

Interest only payments Yes

The ugly stuff: fees

Application fee -

Valuation fee $236.50

Subsequent valuation fee $236.50

Valuation fee details -

Discharge fee $295

Discharge fee details -

Legal fee $396

Settlement fee -

Redraw fee $0

* Important note: All information provided by advertiser or taken from advertiser website and correct at time of publishing. If this information is incorrect, please contact us.

Resi says

Self-employed people who want the flexibility and low rate of a Resi home loan. The Low Doc Loan from Resi is specially designed to help self-employed people turn their dreams into reality. It not only eliminates all the hassles of having to provide proof of income, but it's also packed with clever features for the successful management of your finances: Enjoy a competitive interest rate right from the start (without having to establish a payment record first). No regular monthly or annual account-keeping fees mean that every cent you pay off goes towards owning your property sooner. The ability to add the cost of mortgage insurance directly to your loan and minimise your upfront costs. The ability to make extra payments anytime. Free redraw Ability to split loan. Ability to fix any portion of your loan Interest only option available. ATM card access 24/7. Internet and Phone access. Note: Applicants need to be self-employed