30+ Reasons to Choose Homeloans

We thought we’d like to share a few reasons to choose Homeloans, and came up with over 30. We hope the below provides a good overview of some of the many scenarios we’ll have a look at. Click the loan name for more information on that product.

Please note the below are all areas that Homeloans will consider, however these may be subject to restrictions.

Click here to download a printable PDF version.

1

4 Funders, 1 App Form^, 1 Credit Check, 1 BDM, 1 Credit Manager, 1 Submission

All products (exceptions apply — see below)
2

Non Gen Savings to 90% LVR — O/O or Inv — No Credit Scoring to 95% incl. LPF (borrowed or gifted funds OK for deposit)

Accelerate Prime Plus
3

Up to 85% without LPF/LMI for O/O and P&I

Accelerate Prime
4

85% without LMI to $1.1M (1.0% Risk Fee applies)

FlexiChoice Prime
5

Fixed Rate Loans, with 100% Offset & Redraw

MoniPower
6

Fixed Rate Construction Loans with Offset & FHOG @ land settlement

MoniPower
7

Bridging Loan to 85% LVR on peak debt — (Assessed on End debt)

MoniPower
8

No nominal rent applied if living rent free

All Accelerate products
9

Valuations not required when a purchase contract is provided as evidence of purchase price#

MoniPower
10

Display Homes — to 80% LVR (INV)

MoniPower
11

85% LVR Alt Doc — 6 month ABN

FlexiChoice Plus & FlexiChoice Assist
12

Alt Doc refinance to 85% LVR

FlexiChoice Clear
13

Alt Doc construction to 85% LVR (O/O only, Cat 1 & 2 locations)

Accelerate Red
14

Alt Doc Unlimited Cash Out to 80% LVR

FlexiChoice, Accelerate Red
15

Discharged Bankrupts considered from Day 1 to 95% LVR

Accelerate Red
16

Discharged Bankrupts from Year 2 to 90% LVR purchase

FlexiChoice Clear
17

Payout of Tax Debts (including ATO arrangements)

Accelerate and FlexiChoice
18

Workcover (80%) can be used for servicing

Accelerate (Std. & Red)
19

Defaults under $2K ignored (paid or unpaid)

FlexiChoice
20

Defaults paid >12 months ago considered

FlexiChoice, Accelerate Plus
21

Defaults listed >2 yrs ago ignored (paid or unpaid)

FlexiChoice, Accelerate Red
22

Unlimited Arrears considered

FlexiChoice Assist
23

457 Visa (and others) considered to 95% LVR

Accelerate Red
24

Vacant land to 90% (non-build)

MoniPower, Accelerate Red**
25

80% of Rent & 100% of Loan Repayment used in servicing for joint loans not being refinanced

Accelerate Prime & Red
26

Specialist construction to 95% LVR + cap risk fee (O/O only, Cat 1 & 2 locations)

Accelerate Red
27

40 year terms available

Accelerate (excluding Prime)
28

No limit on Veda credit enquiries to 95% LVR - O/O & INV

Accelerate & FlexiChoice
29

Non Gen Savings at 95% LVR

FlexiChoice Prime
30

No Credit Scoring to 95% inclusive

Accelerate
31

90% LVR Alt Doc 12 month ABN for Purchases

FlexiChoice Clear
32

Construction to 95% LVR – Owner Occupied

Accelerate Prime, MoniPower
33

100% of overtime, bonus, commission and allowance income accepted

Accelerate, Accelerate Prime, FlexiChoice
34

Consolidate an unlimited amount of debts

Accelerate
35

Payout part 9 and 10 debt agreements on refinances

Accelerate
36

Payout private and solicitor debts

Accelerate, FlexiChoice Clear
37

Family Tax Benefits A & B and child maintenance income acceptable for children up to 17

Accelerate Red
38

6 months casual employment acceptable

Accelerate, Accelerate Red, FlexiChoice & Ultra Plus
39

NZ Citizens and residents acceptable

FlexiChoice, FlexiChoice Prime
40

Interest rate based on security – not purpose

FlexiChoice Prime
41

Company and trust applications acceptable

FlexiChoice Prime
42

Choice of Lenders Mortgage Insurer (Genworth or QBE)

MoniPower, Ultra Plus
43

6 months rental history acceptable as genuine savings to 90% LVR

Ultra Plus
44

Vacant land to 95% LVR incl LMI

Ultra Plus
45

Construct 3 dwellings on 1 title

Ultra Plus

The above are examples of what may be considered and may be subject to restrictions such as but not limited to those listed. All rates, product features and credit policies are subject to change without notice. Terms & conditions, fees, charges and credit criteria apply.


^ Not applicable to SMSF products.
# Max $500k loan, Cat 1 locations only, requires intervention of an agent.
~ Where the LVR exceeds 80%, the cash out amount is to be limited to 5% of the refinance amount.
+ Maximum borrower LVR prior to limited guarantee security is 110%.
** Maximum loan amount $650k, Category 1 and 2 locations only.

Updated 3 September 2018. Rates shown apply to new business only and may vary before your loan is settled. Rates shown do not apply to all loan sizes, purposes, repayment types, scenarios or LVRs. Visit BrokerZone (homeloans.com.au/broker) for more information about the specified loans. The comparison rate is calculated on the basis of a loan of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Terms & conditions, fees, charges and credit criteria apply.

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