Is a 1% home loan discount ongoing possible?

This is not an intro rate, it is ongoing.

To see if you qualify see compare home loans.

Some lenders now average tax returns. Below is an example of how the income is averaged

2011 returns $60,000 profit

2012 returns $140,000 profit

Total income $200,000 over 2 years

Income that can be used in servicing = $100,000

As can be seen from above, this can have a dramatic effect on how income is calculated for servicing a home loan.

Most businesses in their first year have start up costs, and this normally means the income for this year is less.

Having said that, there are still lenders that will take the view that the last years tax return is a more accurate assessment of where the business is at and only request the most current tax return.

As long as the loan to value ratio is 80% or below then the last figure is the one that can be used.

In the above example, the income would be serviced at $140,000.

Update

For PAYG applicants it may also be possible to use Year To Date figures that include Bonus/Overtime payments to calculate an income figure.

This is extremely beneficial for those borrowers who:

• regularly receive overtime or who may work irregular hours (eg shift workers, Nurse’s, Miner’s, Bus Driver’s, long-term casual employees etc)

• may receive regular ongoing commissions/bonuses in addition to their base salary (eg Real Estate Agents, Sales Rep’s, Performance Managers etc)

Simply provide two consecutive computer generated payslip’s confirming at least 3 months YTD gross income, then annualise the YTD gross figure from the most recent payslip.

No need to provide two years groups certificates to confirm overtime and bonuses.

This can really benefit those applicants with less than 12 months in the current job but have over 2 years continuous employment in the same industry.

As always, If you need any help, please call us on

No one can claim to have the best rate home loan or the lowest home loan. In truth we are not sure how anyone can make those claims.

However we are confident that after you have done your home loan comparison, you will find the matched deal below very competitive.

You may be eligible for up to $2,000 in home loan reimbursement. Hurry, this offer is only until 31 December 2010

Every now and then, once you compare home loans, an exceptional opportunity occurs in the home loan market. These specials are what this site is about. They dont last.

For more information on this great offer see compare home loans.

Is your loan greater than $250,000?

Is you loan less than 75% of the property value?

If you are answer Yes to both of these questions you may qualify for a 0.8% discount.

One Percent plus gst is the total selling fee. There are no upfront and no extra fees when selling.

One Percent plus gst

These no lmi loans will literally save you thousands of dollars!

So how does the 85 home loan work?

Up to 85% there is no mortgage insurance (no lmi) cost to you.*

Minimum loan size $300,000.

Loans up to $800,000

For loan sizes above this, call us and we will give you a price.

Of course you must have clean credit, no exceptions. Stable full time employment for at least two years, and this is to be confirmed with last two years group certificates or tax returns. Property must be in Sydney Metropolitan area, and be normal residential security.

The loan itself will be at a low, variable interest rate, for up to 30 years. Loan repayments can be Principal and interest, or interest only.

Has redraw, and there are no onging fees.

This is a brief overview of loan.

This loan includes the probation home loan.

For full details in regards to the loan, including detailed fees and charges please call us on

To see how much you can save try this Mortgage Insurance Calculator

* Lenders have fees and charges. Terms and conditions apply. Subject to lenders’ credit criteria.

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