Genie Home Loans Private Funding Facility

Minimum Requirements

Exit
Strategy

The applicant or broker must provide a suitable exit strategy with which the loan will be paid out at the end of its term.

Purposes

Advances will only be made where a declaration is provided by the applicant stating that the funds are to be used predominantly for business or investment purposes.

Lending Criteria

Loan to
Value Ratio

The LVR is calculated on the lower value of either the recent security purchase price or Genie Home Loans approved valuation.

Residential

2nd mortgage security up to 85%.

Commercial,
Industrial, &
Retail

2nd mortgage security up to 75%.

Acceptable
Securities

First or second registered mortgages.

Guarantees

Personal and director's guarantees are required for all loans. In some instances shareholder's guarantees may also be required.

Minimum Term:

1 month

Maximum Term:

6 months ( with an option of 6 Months)

Loan Amounts:

$100,000 - $5,000,000

Interest Rates:

From 3% to 5% per month, paid in advance subject to loan amount

Loan Amount

Loan Amount	Application Fee with a minimum of $3,500 for lower amount.
$100,001 - $500,000	2% with a commitment of $2,000
$500,001 - $1,000,000	2% with a commitment of $4,000
$1,000,000 +	2% of loan amount (Negotiable)

Valuation Fee:

TBA upon receipt of application

Title Registration Fees:

$990 per property (2nd mortgage)

Legal Fees:

Average $1,870
(Fees may vary depending on the transaction)

Mortgage Lenders
Insurance:

$1 per $1,000 or $1,000 whichever is the higher amount
(Plus GST & Stamp Duty)

Upfront Fees:

Valuation Fee is paid upfront and is non-refundable.

Brokerage Fee:

To be set by the introducing broker.

Interest & Fee Payments:

In most circumstances all Fees (except Valuation Fee) and Interest may be capitalised into the loan.