The Pepper Self-Employed Advantage home loan makes it easier for self-employed borrowers to purchase or refinance their home or investment property, consolidate their debts, or raise working capital for business purposes.
At Pepper, we understand it’s sometimes challenging to provide all the paperwork necessary to document a borrower’s income – for example, the last two annual tax returns and income tax assessment notices may not be available at the time of application for a loan. Pepper’s alternate income documentation process is designed specifically to meet the unique needs of self-employed or small business owners who are unable to provide the income documentation required by traditional lenders and mortgage insurers*.
- No Lenders Mortgage Insurance (“LMI”) required
- Simplified paperwork.
- Available for refinance (including refinance of non-conforming, private and solicitor loans)
- Unlimited number of defaults, judgements or writs registered over 24 months prior to application accepted (paid or unpaid)
- Maximum loan amount now up to $2,500,000
|Maximum Loan Amount||
|Maximum Loan To Value Ratio||
85% for purchases only
80% for all other loans
|Loan Term||10 to 40 years|
|Credit History||Any number of defaults or judgements registered 24 month prior to application, paid or unpaid.|
|Loan Purpose||Purchase or refinance of owner occupied and investment properties. Finance also available for a variety of purposes, including payment of ATO debts and purchase of business equipment|
|Acceptable Securities||Residential securities in major cities and towns up to a maximum land size of 25 acres (10 hectares)|
|LVR||Standard Rate||Comparison Rate||Jumbo Loan Rate||Comparison Rate|
|Up to 65%||6.84%||7.24%||8.00%||8.45%|
|>65% up to 70%||7.39%||7.86%||8.24%||8.72%|
|>70% up to 75%||7.65%||8.16%||8.70%||9.22%|
|>75% up to 80%||8.24%||8.78%||9.05%||9.61%|
|>80% up to 85% ^^||9.10%||9.66%||N/A||N/A|
** Rates are correct as at 13 May 2013 and subject to change at any time
^^85% LVR for purchases only
All Comparison Rates are calculated on the basis of secured credit of $150,000 over a 25 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
*Approval is subject to Pepper’s lending criteria.