Thu, 2008-04-03 22:38 — Guest

A great new product to hit a HomeRun with! Plus it’s a winner for owner-occupiers and investors FirstMac have announced they are diversifying their product range with the launch of a new FirstMac product –HomeRun08. HomeRun is a fully featured variable home loan designed to assist your borrowers with the purchase and construction of a new home or investment property. It’s also suitable for borrowers wishing to refinance an existing property and ideal for those looking to negatively gear and capitalise on taxation benefits. Plus it caters for borrowers wishing to purchase residential land for construction or a luxury home! Fleixible lending guidelines that play ball HomeRun’s flexible lending guidelines include a serviceability calculator that takes interest deductibility (negative gearing) into account. This allows investors to take advantage of tax benefits or property investment opportunities. A snapshot of features · FullDoc and LoDoc, including construction · Variable and fixed rates · Purchase luxury residential properties up to $5 million FullDoc (80% LVR) or up to $2.5 million LoDoc (60% LVR) · NZ borrowers can purchase or refinance residential property in Australia with $AUD (FullDoc and standard security type only) · Borrow up to 97% LVR plus capitalise the LMI · No minimum employment period (must have completed probationary period) · Contract of sale may be used as the property valuation (terms and conditions apply) · LoDoc PAYG available up to 60% LVR · Unlimited free phone and internet account access · Free BPAY payments · And more… Some appealing benefits · Ideal for investors seeking to maximise their negative gearing opportunities · Flexible lending guidelines and serviceability calculator to capitalise on taxation benefits, while borrowing larger amounts for luxury property · Many non-standard security types accepted, such as small residential properties from 30m2, one bedroom apartments, student accommodation and more (LVR restrictions apply) · LMI is only applicable for FullDoc loans > 80% LVR and LoDoc loans > 60% LVR · Contract of sale may be used as the property valuation, speeding up transaction times and saving on the cost of external valuations

Firstmac HomeRun08 will accept a broader range of property types that are normally considered non-standard security, such as small residential properties from 30m2, one bedroom apartments, student accommodation and rural residential properties larger than 10 hectares.
HomeRun08 is a fully featured variable home loan borrowers can use to purchase or construct their new home or investment property.
It’s also suitable for borrowers wishing to refinance an existing property or who are looking to negatively gear and capitalise on taxation benefits.
Plus it caters for borrowers wishing to purchase a luxury home!