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HOME LOAN FEATURES & WHAT THEY MEAN

FULL DOC >>	A Full Doc Loan is a lending package where your complete finance and credit documentation and history is required. This will include at least 2-3 years of Australian Tax Returns completed plus revelent employment confirmation.

LO DOC >>	A Lo Doc Loan is a lending package that requires limited finance & credit documentation. This may mean a simple statutory declaration plus employment confirmation.

NO DOC >>	A No Doc Loan is a lending package where No documentation is required on application. However some criteria may apply.

LMI >>	Stands for Lenders Mortgage Insurance. Lenders Mortgage Insurance is a policy in place to protect the lender from risk associated with high LVR lending.

RATE >>	This is the percentage points charged to the loan balance.

OFFSET >>	An Offset account is an account used to minimise your charged repayments. The Offset balance is deducted from the loan balance and then interest is charged to the new balance therefore reducing your repayment.

LINE OF CREDIT >>	A Line Of Credit account is similar to an Overdraft. Funding can be withdrawn and used and interest is only charged to the used portion. However like a credit card or overdraft interest payments must be made.

SPLIT >>	Where you can split your loan in to segments. Eg. Part principal & interest and interest only payments.

LVR >>	Loan to Value Ratio pertains to the balance of the loan amount compared to the actual value of the asset. Higher the loan to value ratio higher the risk to the lender and therefore lenders mortgage insurance premium is significantly higher.

MORE INFO.	Please email info@otelta.com with any queries you may have.

OTELTA PRODUCTS & ME

AZALEA HOME LOAN PACKAGE >>	The Azalea Home Loan Package is suited to just about any anyone seeking great rates filled with features on their home loan. Like we say we are just about unbeatable for loans under $300k. A lot of non-bank lenders will throw you a home loan product with a cheap rate but do not offer all the features you require with the running of your finances in everyday life situations. For example: A Visa Debit or Credit card, Free Eftpos and ATM transactions, Easy Online and Phone banking and direct efficient customer care suited to deal with every curve ball problem. FIND OUT MORE

PETUNIA HOME LOANS PACKAGE >>	The only TRUE 100% Loan. As you may have discovered in your home loan research there are many lenders offering 100% loans on the value of the property. But are they 100% loans? The answer is no. A lender may offer finance up to 100% of the value of the property but you will find time and time again you will be charged for LMI premiums or other risk lender fees. Although they are not lying as they are in fact giving you a 100% loan for the value they will not finance these extra suprise fees. Well OTELTA PAYS THE LMI therefore lending you the total amount plus fees. FOR EXAMPLE... Property Value = $300,000 + LMI ($4,500) = Loan Balance of $304,500 - Otelta will lend your the total amount. Other lenders will not! FIND OUT MORE

MAGNOLIA HOME LOAN PACKAGE >>	The Magnolia Home Loan Package caters for the strategic lender. If you love to monitor your budget and want complete flexibility in your package than this is the package for you. The Magnolia offers the 0% Interest Visa Card. Every month you Visa Card is automatically swept clean to your loan balance therefore being aware and on top of your finances is essential. FIND OUT MORE

PERSONAL LOANS >>	Otelta Personal Loans cater for a just about anyone. Small quick advances to larger secured car loans. With our efficient assessment team you will have an answer swiftly. If for some reason you may just bit out of our lending criteria our team will rush your loan to our many panel of lenders for assistance. We don't shot doors we welcome you in to meet the family. FIND OUT MORE

COMMERICAL LOANS >>	Large construction to small dwellings at Otelta we take your project and ambitions seriously. Our astute commercial finance consultants will interview indepth to develop a concise understanding of your endeavours and desires to create a complete progressive or immediate lending package. FIND OUT MORE

HIRE PRUCHASE >>	Sick of depreciated equipment? Well the benefits of Hire Purchasing certainly outweigh saving to buy outright. You are always certain to have the latest updated equipment, able to claim more from your tax (please see your accountant for suitable tax benefits) and able to spread your payments over a lengthy period therefore no huge outlays now. FIND OUT MORE

VISA DEBIT CARD >>	The Otelta Visa Debit Card is an all purpose card allowing eftpos and atm transactions and where required a credit card number to make credit card related payments. A terrific card all round!!!!

0% INTEREST VISA CREDIT CARD >>	Yes you read correctly...The 0% Interest Visa Credit Card is wiped clean every month to you loan balance. This is available on the Magnolia Home Loan Package. A great card for good budgeters on top of their finances.