A new full-doc home loan product has been named by Australian First Mortgage to cater to its “overwhelming growth in broker demand”.
Set to be available starting 7 April, the Value Option will allow a maximum loan size of $1,000,000 and a LVR of 90% inclusive of LMI. This comes with a fixed or variable rate in accordance to the LVR taken, including an offset account.
“It allows us to provide solutions to our broker network based on their customers’ unique needs, in particular an excellent SMSF product catering for all types of SMSF requirements,” managing director David White said.
“We have experienced rapid growth in demand for our full doc products and as such have created one with a low interest rate and a raft of innovative features.”
The Value Option product range also comes with an SMSF, NRAS and Construction choice, he added.