Pacific Mortgage Group Line of Credit Home Loan
Opening a line of credit home loan gives you full access to your funding needs, allowing you to purchase what you need for your home or investment when you need it.
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About this loan
Features of the PMG Line of Credit Home Loan
- Loan amount. Borrowers have the opportunity to secure up to $2 million, giving you the opportunity to use funds for expensive purchases such as property.
- Loan-to-Value Ratio (LVR). For a metro loan of up to $1 million you can borrow up to 90% of the value of the property. For smaller loans up to $750,000, you're able to borrow up to 95% LVR.
- Minimum deposit towards the property. To qualify for this line of credit, you should have at least 5% of the value of the property readily available.
- Loan terms. You can opt to have this loan for a period of five to 30 years.
- Repayments. You have the option of making principal and interest payments or interest-only. Borrowers may also choose if the repayments will be made weekly, fortnightly or monthly.
- Repayment methods. You can have your repayments debited directly from your account or from your salary.
- Redraw availability. One day after the start of the loan, you are entitled to redraw an unlimited amount of available funds at no cost.