Select your Loan Type

No Deposit

You only need to have your costs saved. If you are a first home buyer, you may be able to use your First Home Owner (FHOG) grant to go towards the costs. Then lender can take care of all the necessary paper work for (FHOG) also. The loans can be used for investment purposes and are available to other borrowers. These loans do require a fully completed application and are generally a little harder to obtain. The lenders are making sure that you don't over commit and default on the loan. These loans still have the same features as other loans such as redraw facilities, internet & telephone banking, extra repayments ok. Repayments can be made either weekly, fortnightly or monthly. Interest rates are still highly competitive.

Lifetime Loan / Reverse Mortgage

Loan is usually structured as a loan secured with a first mortgage on your property. But unlike a traditional mortgage, no repayments are due until all Borrowers permanently vacate the property. This will usually be when all Borrowers have passed away, moved into long term aged care, or the property has been sold, at which point the Lender will seek full repayment of the funds owing. Funds can be used for any worth while purpose. You can take a lump sum payment or a series of instalments. There some times can be implications with aged pensions benefits, so it's best to speak with a Financial Information Services Officer from Centrelink. Also seek independent legal advice and discuss this loan option with your family.

Non conforming &  Lo Doc / No Doc

Non conforming loans, Low Documentation Loans (Lo Doc) and No Documentation Loans (No Doc), have been introduced to meet the demand for borrower's who do not meet normal lending criteria and fall outside of the traditional lenders guidelines. These loans can apply to borrower's with a past credit problem, self employed, business owners and a wide range of other borrowers. The interest rates can be competitive, however all borrower circumstances are different. As adverse as the borrower's circumstances are the appropriate interest rate will be apply. Lo Doc & No Doc simply implies that the borrower has no regular means of proof of income or does not wish to provide proof of income or other normal documentation required for a traditional loan application. To apply for these loans can be as easy as providing a valid ABN no and self certifying income.

Refinance

There can be major cost savings by refinancing your current loan to a more flexible, lower interest rate loan. Other reasons for refinancing may include, renovations, extensions, investments, or purchase of another property, purchase new car, holiday or debt consolidation. Maybe your current mortgage does not meet your needs. Before you refinance its important that the right loan is compared against your existing mortgage, as there can be large costs in refinancing. Mortgage Maestro can assist you with you mortgage restructuring and advise in plain English, the cost's involved and if you, the borrower will receive any benefit by refinancing.

Other Loan Types

Mortgage Maestro has access to hundreds of loans for all purposes. If Mortgage Maestro can't get you the loan, no one can. Some of these loans are as follows.

Construction Loan Business Loan Commercial Loan Investment Loan Home Equit Loans Line of Credit Split Loan / Combination

Standard Variable Rate Basic Variable Rate All in one Loans Fixed Rate Interest Only Variable