REVERSE MORTGAGE LOAN CO  - Products We have a full range of loans from major Banks and other Lenders. REVERSE MORTGAGES This is the loan for the “BABYBOOMERS.” Now that you have time on your hands, have you planned to achieve the things you want? If you are on a fixed income or pension you may be experiencing financial difficulties. You may have considered selling your home and purchasing something smaller to finance your retirement. But it is hard to move away from your family, friends and support network. Many people in this situation are now finding a solution to this confronting problem. They are taking out a Reverse Mortgage Loan by accessing the equity they have built up in their home. For joint applicants, if you are both over 60 (58 for the youngest partner in some circumstances) and own your own home, a Reverse Mortgage Loan can allow you to access money, while you still continue to live in, and own, your home. This can be your most important consideration. Interest Rates & Conditions Your options are Fixed Rate for a set period Fixed Rate for the life of the loan Variable You can borrow a lump sum or take regular monthly payments You can live in the house or take that extended holiday What Can You Do with the Funds? (Anything you like) Investment You can invest the money to supplement your income. (A professional financial planner, and if applicable, Centrelink should be consulted). Travel expenses. You may decide to travel around the country, or take that long awaited trip overseas Purchase a new car Refurbish your home with renovations, a new bathroom or kitchen Refinancing or consolidating existing debts Helping a family member Expanding, or assisting your business Assisting with health issues or Nursing Home accommodation Use payments for living expenses

LOW / NO DOC LOANS. 

Buying a new home or financing an extension can be a frustrating experience, particularly if you are self-employed and don’t have the proof of income to the bank's satisfaction.

If you have started a business in the last three years or you have experienced a difficult period then your financials may also not be acceptable to the lender.

As most lenders require two to three years financials to establish your ability to repay the loan a Low or No Doc Loan may be the answer for you,

A Low / No Doc loan does not require you to provide financials or tax returns to substantiate your income. Depending on the amount you wish to borrow over 70%, and the lender's lending criteria, you may be able to self declare your income by signing an Income Declaration Statement.

Under 70%, again depending on the lender, you may be able to apply for a No Doc Loan requiring no declaration of income and / or assets.

There are various requirements from each lender; some require you to have been self-employed for two years, have restrictions on the loan amount and / or the loan to valuation ratio (LVR)

If you are self-employed there is a range of options that available to you. 

Contact us for more information. 

NON-CONFORMING LOANS 

If you have had financial or credit problems in the past, have irregular income streams or move around a lot, we represent a range of lenders that may have the solution for you.

Even if you have declared bankruptcies, judgements or listed defaults we have lenders who will consider your application. So don't give up yet, we may have a non-conforming loan that provides the answer to your problem.

Contact us for more information. 

FIXED RATE LOANS 

These allow you to protect yourself against rising interest rates allowing you to budget your home loan payments over a set period, usually 1-5 years.

STANDARD VARIABLE LOANS 

The Standard Variable Rate Loans are for borrowers who are looking for a flexible loan with all the features.

These include:

Additional repayments

Redraw

Offset accounts

Payments usually made Weekly, Fortnightly or Monthly. 

Contact us for more information. 

PROFESSIONAL PACKAGES 

These products are available to borrowers who meet certain lending criteria which may include minimum income levels or loan borrowing amounts.

Interest rate and fee discounts are available depending on the lender. Most attract an annual fee.

These packages can be very attractive to the home or investment loan borrower for both the account convenience and the discounted rates.  

Contact us for more information.  

NO DEPOSIT LOANS 

No Deposit Loans were generally available to borrowers who, in addition to their homes, had investment properties to reduce the loan to valuation ratio.(LVR)

100% Loans are now also available to home buyers in various forms.

First Home buyers also are looking at this type of loan. A borrower would generally need a good employment record and be prepared to pay additional fees and higher loan mortgage insurance.   

Contact us for more information.  

OWNER BUILDER LOANS 

We have lenders who are prepared to consider Owner Builder Loans.

You will need to be organised with your plans, specifications and engineering data.

A fully quoted, and realistic price structure.

We have the paperwork to help you prepare an application that has a realistic chance of success.

We also have experienced owner builder financiers who can assist you with the processes involved in your building venture. 

Contact us for more information.