Loan Program Australia
| Rate | Starting at 7.8% variable |
| Term | 30 years max |
| Max LTV | 85% |
| Max loan amount | AU$2,000,000 |
| Second home allowed | Yes |
| Borrower type | Salaried and self-employed |
| Loan costs | AU$1,000 |
| Annual fee | AU$500 |
| Lender fees | 1-3% |
| Broker fees | 1% or AU$3,000 whichever higher |
| Processing time | 1 month after documents submitted |
| Requirements | DTI No fixed ratio. Client to submit personal and rental income statements, credit scores and net worth statement for lenders to assess. |
| Key selling points | High 85% LTV and interest-only payment available. Rare construction loan available for land+house package. Lower rates available for Australian PRs* |
| Note | Australian PR or other acceptable visas, they can apply first and get approved for the non-resident loan, then easily convert into the lower rates for PR when they obtain their visa. |
| GMG contact | leonard.lee@gmg.asia |