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Loans Guide What sort of loans does Awesome Mortgages do is a good place to start; we do loans for homes, home units, duplex, townhouses or if you want to purchase a block of land and build we can do a loan for that as well. Awesome Mortgages is a lender mortgage manager who supplies across the board service with a difference. So we are not just a lender to PAYG employees. We can lend to people who have had that situation where the bank says no.
We can offer you rewards for all our loan products
Don’t worry we understand that we all have different lives and different things happening in our lives at different times. That does not mean you cant get a loan at some stage, it just means you may need a different type of loan. Some applicants require specialist type loans such as a fully capitalizing Line of Credit… (LOC) this is not for every body and can be a means of getting into bad credit habits for some but for self employed season or irregular earning persons it’s a real God send.
It is impossible to put up our rates charts for all our loans and really we need to know a little about you and what you want before we can “talk rate.” We need to know what it is you want from your home loan then we can give you a good rate, its a little like comparing “apples with apples.” We have two loan programs being Reward Only and Killer rate. Our Loans product matrix above shows you what our loans carry as general features the loans themselves are as follows: Home loan: This is our standard product and comes with standard redraw features. It can be split with an LOC if required. Prime Loan: This is a higher use redraw loan and can also be split and can come attached with an LOC if required. LOC: Our line of credit is a fully capitalized line of credit and can come with a cheque book and deposit book if required. It is the perfect tool for the self-employed business person and replaces cumbersome overdrafts that carry a much higher rate of interest. It is also useful for those seeking numerous splits for multiple investment properties or other split accounts such as self-super, share trading or simply capitalizing interest on interest without having to make a monthly payment. This aspect of the LOC is excellent for seniors who are seeking a cash out facility without being burdened by monthly payments. Low Doc: Our low doc loan can fit within all the above facilities but does not require that you support the loan with tax returns. A simple declaration is required to show us that you can service the loan. It is a requirement that 65-80% of Loan to value ratio (LVR) low doc loans have an ABN however if you are purchasing investment property this is not required. No ABN is required for low doc loans below 65% of LVR. Construction: Our construction loan is very suitable for those who wish to buy a block of land and build, as you only pay for what is drawn down and not for the whole advance. It is a strict land purchase and construct loan that can become any one of the three facilities above when construction is completed.
Non-Conforming: This is again a specialist type of lending that applies to those who have either had a credit problem, a marriage failure or have purchased a property or wish to refinance a property that is not generally suitable to the bank. Non-conforming lending is not Low Doc lending and should never be misconstrued as such. You do not need to have an ABN to be a non-conforming borrower. Awesome Mortgages can do home loans from $50000 to $3,000,000 and we can lend up to 100% of the value of your property and normal conditions and terms apply. If you need more than that simply ask us and we will get our aggregator network to do that loan for you and still give you a reward. You can simply make an inquiry using our inquiry system or call us and a mobile loans manager will be pleased to contact you or make an appointment to come and see you. Call Awesome Mortgages today on 1300 668 670 to get your Killer Rate or Reward Only. |
