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lo doc jumbo loans to $5 million
LO DOC JUMBO LOANS TO $5 MILLION - NOT CURRENTLY AVAILABLE
CLIENT PROFILE

Eagle's Lo Doc and Jumbo Lo Doc loans suit self-employed or full time investors who are unable to produce extensive financial statements at the time of application.
Borrowers must disclose their ABN which must be held for a minimum of 18 months where the LVR is greater than 80%. There is no time limit on LVR's below 80% and the loan amount is less than $1,750m. Co borrowers may be PAYG.
Income verification is required by way of Income declaration and for loan above $1.25m an Accountant income verification in Eagle standard format is required.

LOAN TERM 30 Years
MAXIMUM LOAN SIZES

Lo Doc -
90%LVR - $750,000
85% LVR - $1,250,000
75% LVR - $1,750,000
Lo Doc Jumbo -
70% Refinance -$Up to $5 Million
75% Purchase - Up to $5 Million

SERVICING REQUIREMENTS

A completed Income Declaration for each borrower
Loans in excess of $1.25M will require additional evidence of servicability, this normally includes an Accountants letter, bank statements and/or evidence of genuine savings, income or equity build up through asset accumulation. ABN must be valid for 18 months.

INTENDED USE

Owner Occupied / Investor

REPAYMENT OPTIONS

Principal & Interest (P&I)
Interest Only (IO)

INTEREST ONLY OPTIONS Up to 5 Years then auto converting to P & I
CREDIT REPORTS Clear credit is generally required. However, loans may be approved with credit impairment if they are satisfactory non financial defaults. An interest rate loading of 0.25% will apply. Full written explanations must be provided.
ADDITIONAL REPAYMENTS Variable interest rate options only
SUBSTITUION OF SECURITY Available in line with credit criteria - simultaneous settlement required.
LOCATION All metro and category 1 areas. Outside metro or major regional areas an interest rate loading of 0.35% will apply
STATEMENTS 1/2 Yearly
REDRAW FEES Available - Minimum $500. 2 free per month/$175 thereafter
FIXED INTEREST Available on request
RISK FEES

Yes

BORROWERS LEGAL EXPENSES At Borrowers expense
LENDERS LEGAL EXPENSES At Borrowers expense
VALUATION EXPENSE $375 payable on application
APPLICATION FEE 1.5% plus GST or $1,500 whichever is the greater.
CAPITALISATION FEE Fees can be capitalised to a maximum of 1.5% of the proerty value. The fees allowed to be capiatalised are the risk fees, legal fees ($350 only), title insurance and completion fees.
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