Variable Rate Home Loan - Choicelend - Performance Plus

Comparison Rate	6.56%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,270.72
Total Amount Paid Est.	$457,560
Establishment Fee	$0.00

6.55%

Target Market

Acceptable Income
Casual - 100% Acceptable (2 years in current role + 2 years in the industry) ,
Commissions - 100% Acceptable (2 years history supported by Tax Returns) ,
DSS Pension - 100% Acceptable (Must be ongoing permanent pension not Newstart or Austudy) ,
Dividends - 80% Acceptable (2 years history supported by Tax Returns) ,
Family Allowance - 100% Acceptable (up to 11 years old) ,
Gross Income - 100% Acceptable ,
Permanent Pension - 100% Acceptable ,
Regular Overtime (QBE) - 100% (12 months history) ,
Regular Overtime (Genworth) - 50% Acceptable, excluding applicants employed in essential services such as ambulance, fire, police, nurses etc. (must be verified as ongoing and a condition of employment) ,
Rental Income - 80% Acceptable ,
Second Job - 100% Acceptable (2 years history) ,
Self Employed (Refer to BDM for details)

Home Loan Loan Term
Maximum overall loan term is 30 years.
Maximum IO period of 10 years only applies where the LVR is <85%.
Where the LVR is >85% the maximum IO period is 5 years.

Home Loan Loan Size
Minimum: $30K ,
Maximum: $1 Million ,
Regional areas where LVR is >80% have a max loan amount of $750k. ,
Country areas have a max loan amount of $500k - subject to conditions

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Home Loan Repayment Type
Principal & Interest & Interest Only up to 10 yrs.

Repayment Options
Weekly, Fortnightly or Monthly

Extra Repayments
Additional repayments permitted for all Variable products only. Early repayment fees apply if the loan is paid out within the first 5 years

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Split Loan Facility
Available up to 4 splits with combination of Equity Plus. Minimum split amount $20,000

Offset
Offset Not Available

Redraw Facility
Redraw only available during the variable rate period of the loan, no minimum redraw amount. ,
Funds are transferred to the borrower’s nominated bank account via direct credit within two business days.

LVR for Variable Rate Home Loan - Choicelend - Performance Plus

Owner Occupied Maximum LVR 90% ,
Investment Maximum LVR 90% ,
Construction Maximum NA ,
Vacant Land Maximum LVR NA ,
Refinancing Maximum LVR 90%

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Fees for Variable Rate Home Loan - Choicelend - Performance Plus

Application Fee $700 (Nil for a limited time effective 01 July 2010, refer to special offer) ,
Extra Valuation Fee At Cost (Required if initial valuation is older than 90 days at settlement or if multiple securities - refer to ChoiceLend Lending for costs) ,
Discharge Fee $295 (Fee is for full Discharge. Partial Discharge or security substitution Costs as follows: ,
- production fee is charge $99.00 (inc. GST) ,
- re-documentation fee $250.00 (inc. GST) ,
- title insurance (refer to Title Insurance Matrix) ,
Deferred Establishment Fee Yes (Designated Early Repayment Fee applies if loan is discharged within 5 years, 1 Notional Monthly Repayment) ,
Switching Fee $100 ,
Other Fees $105 Title Insurance Fee (displayed as Doc Prep Fee, amount shown is for single security under $600k) (Paid by the lender for a limited time effective 01 July 2010, refer to special offer) ,
$120 re-doc fee applies if changes to the loan require legals to be redone ,
Portability Fee $100 ,
Split Fee $100 (Restructure Administration Fee - per request) ,
Rate Lock Fee $395 ,
Manual Redraw Fee $45 (phone/internet $0)