CONSTRUCTION LOAN

INTEREST RATE		6.68% pa Variable Rate. Note rate reduces by 0.25% once contruction is completed.

LOAN TERMS		30 Years Available.

PURPOSE		Purchase or Refinance Vacant Land and Construction of Residential Dwelling.

LOAN AMOUNTS		$50,000.00- $1,000,000.00

ACCEPTANCE FEE		$1,100.00 (Includes valuation, progress inspection and base legal fee).

MAXIMUM LVR		95% up to $650,000. 90% up to $750,000. 85% up to $850,000.

REDRAW OPTION		Not available until loan is fully drawn.

SPLIT OPTION		Not available until loan is fully drawn.

PAYMENT MODE		INTEREST ONLY DURING CONSTRUCTION PERIOD.

PRINCIPAL REDUCTIONS		Not available until loan is fully drawn.

DISCHARGE PRIOR TO MATURITY		VARIABLE RATE: One monthly instalment based on original loan amount if discharged within 5 years of settlement.

LENDERS MORTGAGE INSURANCE		Required in all cases, PAID by lender up to 80% lvr & can be capitalised to 95% lvr max.