ORDE Financial Residential Alt Doc Prime
Variable rateRedraw
The ORDE Residential Alt Doc Prime product caters to self-employed applicants seeking to meet their loan objectives where residential property is available as security. Whether purchase, refinance, cash out or consolidation, ORDE provides a practical solution by assessing alternative income verification to support customers with strong underlying financial positions in achieving their future goals
- Interest rate a year, from
- 7.19%
- Comparison rate
- 7.31%
- Upfront fees
- Not published
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 7.19% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $4,069
- Total repayments
- $1,464,721
- Interest
- $864,721
Rates
Every rate ORDE Financial publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| Variable | Live in | Principal and interest | Up to 65% | 7.19% | 7.31% |
| Variable | Live in | Principal and interest | 65% to 75% | 7.29% | 7.41% |
| Variable | Live in | Principal and interest | 75% to 80% | 7.39% | 7.51% |
| Variable | Live in | Principal and interest | 80% to 85% | 8.09% | 8.27% |
| Variable | Live in | Interest only | Up to 65% | 7.49% | 7.61% |
| Variable | Live in | Interest only | 65% to 75% | 7.59% | 7.71% |
| Variable | Live in | Interest only | 75% to 80% | 7.69% | 7.81% |
| Variable | Live in | Interest only | 80% to 85% | 8.39% | 8.57% |
| Variable | Investment | Principal and interest | Up to 65% | 7.34% | 7.46% |
| Variable | Investment | Principal and interest | 65% to 75% | 7.44% | 7.56% |
| Variable | Investment | Principal and interest | 75% to 80% | 7.54% | 7.66% |
| Variable | Investment | Principal and interest | 80% to 85% | 8.24% | 8.42% |
| Variable | Investment | Interest only | Up to 65% | 7.64% | 7.76% |
| Variable | Investment | Interest only | 65% to 75% | 7.74% | 7.86% |
| Variable | Investment | Interest only | 75% to 80% | 7.84% | 7.96% |
| Variable | Investment | Interest only | 80% to 85% | 8.54% | 8.72% |
Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Fees and features
Fees
- Upfront fees
- Not published
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- No
- Redraw
- Yes
- Highest LVR
- 85%
- Loan amount
- From $100,000 up to $3,000,000
How it compares
Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.
Variable rate
7.39%
For a home you live in, paying principal and interest. Typical is 6.62%.
Comparison rate
7.51%
For the same rate. Typical is 6.70%.
Smallest deposit
15%
Most loans need at least 10% of the price.
Pros and cons
Pros
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- Redraw. You can take back extra repayments later if you need the money.
- Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.
Cons
- No offset account. Your savings can't reduce the interest unless you pay them into the loan.
- An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
Similar home loans
Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.
- Variable rate from
- 7.39%
- Comparison rate
- 7.73%
- Variable rate from
- 7.39%
- Comparison rate
- 7.47%
- Variable rate from
- 7.39%
- Comparison rate
- 7.46%
