Guide to maximum LVR’s and loan amounts
Below we have provided a guide to the maximum available loan to value ratios (LVR’s) and their corresponding maximum loan amounts. In all three tables below the loan amounts and LVR’s are for standard security properties such as free standing houses and townhouses located in capital city areas. For non standard security properties such as high rise units and for properties located in regional or country areas the maximum loan amounts and LVR’s may be lower.
Full doc loans – Standard residential security in metro areas
The table below is intended as a guide only. Official policies of the two main mortgage insurers and various lenders may differ from what is outlined below. Lenders mortgage insurance is applicable for all loans with an LVR of more than 80%. If a borrower has two or more properties the maximum loan amounts allowed would be more than outlined below in some cases.
Lo Doc loans – Mainstream lenders - standard residential security in metro areas
The table below is intended as a guide only. Official policies of the two main mortgage insurers and various mainstream lenders may differ from what is outlined below. Mainstream lenders still accept some low doc borrowers but their willingness to lend for these types of loans has been severely curtailed since the GFC.
Lo Doc loans – non bank lenders & private lenders- standard residential security in metro areas (no mortgage insurance).
The table below is a guide only and is subject to change at any time. Rates and fees available depend a lot on the availability of funding at any given time. The main advantage of these types of loans is the option to avoid the often stringent mortgage insurers’ policies.
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