Hi
There have been a few changes lately with the two major mortgage insurers. It is now possible to obtain much large loans and their maximum exposure levels per client has also changed.
This will effect Low docs, full docs and No Docs.
some examples:
95% loans to $650,000 (was $500,000 previously)
80% Low doc loans up to $1,000,000
80% low doc loans now available in cat 3 areas (GE).So if you had hit the wall, or reached your limit, you may now find you can qualify for further loans.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
A lot of the funders haven’t increased their maximum loan amounts to match the mortgage insurers yet, but it will be done of the next couple of weeks.
State Manager
0425 358 293Wholesale Mortgage Lender that deals only with brokers.
20 years in Finance Industry
I should also add, PMI have increased their maximum total customer exposure on PMI Low Doc facilities from $800K to $2.4 million per borrower!!!!
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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