Homeloans ProSmart Lo Doc Line of Credit
The Homeloans ProSmart Lo Doc Line of Credit is a fully transactional line of credit for self-employed borrowers. The facility comes linked with a nil interest VISA account which is swept to the loan balance at the end of each month.
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| 5 - 30 years |
- Purchase
- Refinance
- Debt consolidation
- Equity release
- Business purposes+
|
| |
| Borrow up to 60% of the purchase price |
| Variable |
| Monthly |
| Interest only (interest may be capitalised to 100% before payments are required) |
- Salary credit
- Direct debit
- BPAY
- Direct credit
- Cash or cheque deposits at Westpac, Bank of Melbourne and Challenge Bank branches
|
| Yes, package with the Homeloans ProSmart Lo Doc |
| No |
- Cheque book
- Internet and phone banking
- BPAY
- EFTPOS
- ATM
|
| The Homeloans ProSmart Lo Doc Line of Credit comes packaged with a nil interest VISA account. The balance of the VISA account is swept to your line of credit account each month, meaning you can directly deposit your salary into your loan account and use the credit card for your day to day expenses. Minimum $500 Maximum 3% of total approved Line of Credit limit, or $10,000, whichever is lower; or 3% of the total loan amounts (i.e. Line of credit + other loan limits approved) to a maximum of $5,000. Note: Line of credit must be at least $30,000. |
| Yes |
| Yes |
| Yes |
| No |
+Excluding working capital and the repayment of personal or business tax liabilities
All applications are subject to normal lending criteria, fees and charges may apply.