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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.

Loan to value ratio (LVR)	Guide to maximum loan amount	Comments
95%	$750,000	Generally only property purchases would be considered. The two major mortgage insurers both have a maximum loan amount of $750,000 at 95% LVR. Many lenders adopt a slightly lower maximum loan amount. Two of the major lenders will consider up to $1,000,000 at 95% LVR as they have the ability to override the insurer’s maximum loan amount policy. As above it is unlikely to be approved unless the application is very strong in all other areas.
90%	$1,000,000	Purchases and some refinances and debt consolidation are acceptable loan purposes. Any equity release or cash out would generally be restricted to less $100,000. Can consider up to $1,500,000 at 90% LVR with a few lenders.
85%	$1,000,000	Most loan purposes would be acceptable with some restrictions on equity release.
80%	$1,600,000 (without mortgage insurance)	Most loan purposes would be acceptable with fewer restrictions on equity release. A higher loan amount may be possible with some lenders without mortgage insurance.
70%	$5,000,000	Most purposes would be allowed with fewer restrictions on equity release. Generally unlimited but with one security property the maximum loan would likely be around $5,000,000. Obviously the borrower would have to have good income!

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.

Loan to value ratio (LVR)	Guide to maximum loan amount	Comments
80%	$1,000,000 (mortgage insurance applicable for loans over 60% LVR)	Available for self employed applicants only. ABN & GST registration, BAS statements and business trading statements may be required. Acceptable loan purposes include the purchase of owner occupied and investment properties. Some refinances may be accepted. Limited / no cash out or equity release. Maximum loan amount is usually $1,000,000 per security property. Each of the two major mortgage insurers has a total exposure limit of $2,500,000 in loans per borrower(s).
60%	Unlimited	Available for self employed borrowers. At least one other form of income proof required such as an accountants letter or BAS statements. Standard rates and fees apply.

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.

Loan to value ratio (LVR)	Guide to maximum loan amount	Comments
85%	$600,000	Must be self employed High rates (bank rates + 4% pa) Loan risk fees and high application fees apply
80%	$750,000	Must be self employed Rates start at bank rates + 3% pa Loan risk fees and high application fees apply
70%	$1,500,000	For loans less than $1,000,000 rates start at bank rates + 2.0% pa More competitive fee structure for smaller loans
50%	$3,000,000	For large loans rates start at bank rates + 3.0% pa For loans less than $750,000 rates from bank rates plus 1% pa Short term loans preferred for large loan amounts

Want to get a better idea where you stand? Mortgage Experts.

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Lex Luther Enterprises Pty Ltd (ABN 58114636949) trading as “Mortgage Experts” is an Authorised Credit Representative (444479) of Martin Warren Thomas McDonald, Australian Credit Licence (391230) under s64(1) of the National Consumer Protection Act 2009.

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