Call your BDM or a
Bluestone specialist on
Near Prime
A simple home loan for customers who require more flexibility.
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Near Prime may be the best fit for PAYG or self-employed customers with clear credit, but don’t quite meet the requirements to be eligible for Prime. Near Prime offers more options for consolidating debt, with multiple ways to prove your self-employed income.
Product Features
- Short term and casual employment accepted
- ABN registration from 12 months and 1 day GST registration
- Self-employed verification via 1 years’ tax return or alternative alt doc options
- Judgements & defaults up to $2000 or older than 24 months old ignored
- Unlimited debt consolidation, including ATO debt and loans from private lenders
- Unlimited cash out where >$200k or 50% of value (evidence of purpose required)
- Borrow up to 90% LVR without paying Lenders Mortgage Insurance (LMI)
Near Prime Rates
Owner Occupied Full Doc
| LVR | Principal & Interest Rate | Comparison Rate** | Interest Only Rate | IO Comparison Rate** | Risk Fee |
|---|---|---|---|---|---|
| ≤ 60% | 7.44% pa | 7.70% pa | 7.74% pa | 8.00% pa | - |
| ≤ 65% | 7.44% pa | 7.70% pa | 7.74% pa | 8.00% pa | - |
| ≤ 70% | 7.44% pa | 7.70% pa | 7.74% pa | 8.00% pa | - |
| ≤ 75% | 7.54% pa | 7.89% pa | 7.84% pa | 8.19% pa | 0.75% |
| ≤ 80% | 7.54% pa | 7.92% pa | 7.84% pa | 8.22% pa | 1.00% |
| ≤ 85% | 8.54% pa | 8.95% pa | 8.84% pa | 9.25% pa | 1.25% |
| ≤ 90% | 8.84% pa | 9.33% pa | 9.14% pa | 9.63% pa | 1.85% |
Need a quick answer on a loan scenario?
Call our Scenario Hotline on 13 BLUE to speak directly to a Senior Underwriter – they will be happy to answer any policy questions, workshop your customer’s scenario and help with your loan submission.