La Trobe Financial - Construction

Product Details:

Residential Commercial

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Product Name	Residential Construction	Development Finance
Current Rate^{^}	7.29%^{^}	8.99 - 10.35%^{^}
Comparison Rate^*	7.95%^*	n/a
Security Type	Residential security	Residential & Commercial security
Loan Purpose	Construction (single residential dwelling)	Construction - up to 10 units
Verification Required	Full or Lite Doc® methods	Full or Lite Doc® methods
Personal or Business/Investment Purposes	Both	Both
Minimum Loan Amount	$100,000	$100,000
Maximum Loan Amount	$1,500,000	$10,000,000 (65% LVR) $2,000,000 (70% LVR)
Maximum LVR	75% (not to exceed 80% of total development cost)	70% (not to exceed 80% of total development cost)
Lenders Mortgage Insurance required	No	No
Maximum Loan Term	30 Years	2 Years
Repayment Type	Principal & Interest	Interest Only
Maximum Interest Only Term	5 Years reverting to P&I	2 Years
Interest Rate Type	Variable	Variable
Redraw Available	Yes	No
Application Fee (excl. Val. & Legal Fees)	1.25% of the loan amount	from 1.50% of the loan amount
Risk Fee	$0	$0
Additional Repayments	Yes	No

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* The comparison rate is based on secured credit of $150,000 and a term of 25 years. WARNING Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Terms, conditions, fees, charges and La Trobe Financial Lending criteria apply. ^ Depends on the loan amount, LVR and/or risk grade of the borrower.