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Lo Doc Loans
Pioneer's Lo Doc Loan is a low documentation product suitable for those borrowers wishing to obtain a loan without the requirement to provide the traditional proof of income documents.
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So if you are looking at only borrowing a maximum of 80% of the property value and need a streamlined application process where minimal paperwork is required then Pioneer's Lo Doc loan may be suitable for you.
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How Pioneer's Lo Doc loans can work for you:
- LVR up to 80% plus capitalise the Mortgage Insurance. Our Lo Doc product allows you to borrow up to 80% of your property value PLUS you have the option of capitalising the mortgage insurance premium on top of this amount.
- Line of Credit or 100% Offset. Our Lo Doc product range also gives you the option of having a Line of Credit or 100% Offset facility.
- Principal and Interest or Interest Only repayment structures. Put simply, you can choose whether initially you would like to repay just the interest on the amount you borrow or installments of the amount you borrowed plus interest. Paying back just the interest to start with may suit borrowers who have limited funds in the first few years of their loan.
- Dynamic Repayment structure. Reduce your minimum monthly repayments on your Principal & Interest loan with this feature. By having a Dynamic Repayment structure your loan is amortized on a monthly basis, based on the loan balance at the time. This means that any additional payments made to your loan will be used to reduce the regular Principal & Interest repayment amount.
- Fixed or variable interest rates. A fixed interest rate helps with budgeting and gives you the security of knowing exactly how much your repayments will be each month as the rate is fixed for a set period of time. A variable interest rate can fluctuate at any given stage throughout the life of your loan, which means that your minimum required repayment will also fluctuate.
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