iLOAN.com.au

Welcome to iLOAN.

Main

iLOAN is 100% Australian owned, and was formed in 2006 in conjunction with the FirstRock mortgage program. In doing so, the aim is to have total control over the operation and management of our loans portfolio in order to provide the best home loan products to you. In addition to this, we also offer the products of over 30 other lenders. And we are proud to assist Australians to obtain finance for loans all over our country.

Our Mission is to provide affordable, competitively priced interest rate finance to all Australians, and to enable you to fulfill your dreams of home ownership sooner. We are totally committed to helping more Australians get a better deal on their home loan.

Our mission for Home Owners is:

For you to own your own home sooner.
For you to get the best possible deal.
Make it easier for you to get your home loan.
Make it easier for you to manage your loan, even after settlement.

Our mission for Investors is:

For you to get the best possible deal.
Make it easier for you to get the right home loan for you.
To help you to grow your wealth.
Make it easier for you to manage your affairs.
Help you to grow your asset base and procure more property.

Our mission for Seniors is:

To provide access to cash from the equity in your home.
To give you a choice of ways to access this money.
To do this in an affordable manner.
To protect your rights and ensure you will never have to move or repay the Cash Access Home Loan .
Have easy to manage loan affairs.

Our mission for Business is:

For you to match a loan to your business needs.
For you to get the best possible deal and the amount you want.
Make it easy for you to get the right loan.
Have easy to manage loan affairs.
Keep the loan portable to other securities.

Residential

•	You can borrow up to 100% of the value of the property, but generally you will need at least 5% for deposit.
•	Or you can select out 105% Home Buyers product, even if you have no savings. The interest rate is a little higher initially, but when you have a proven repayment history, the rate can drop back to the standard variable rate.
•	No furniture? No worries! We can assist you with a personal loan up to $50,000 for you to spend on a worthwhile purpose.
•	And, you may be eligible for the First Home Owners Grant (FHOG) and in some states, stamp duty exemption, which could save you up to $25,000.
•	To be eligible for the FHOG you must be an Australian citizen or permanent resident and you (and your spouse or partner) must not have previously owned a home in Australia.
•	If you are eligible for the FHOG we will be able to assist you in applying for the grant. More info..
•	We will require a valuation of the property you are purchasing or building, the cost of which you will be required to meet.

Miscellaneous Costs When calculating the amount of money you need to complete the purchase of a home there are a number of costs you will need to allow for:
•	Government Fees - including stamp duty on transfer and on the mortgage if first homeowners are not exempt in your state.
•	Legal Fees - including conveyancing and property search fees.
•	Property related costs - including council and water rates and in the case of a unit purchase you will have strata fees.
•	You may also have to allow for other costs such as building and pest inspections.

Lenders Mortgage Insurance (LMI)
The LMI fee applies only when you borrow more than 80% of the property's value (on a standard loan), this covers the lender if for some reason you cannot repay your loan and the property is sold for less than the amount of the loan. We will add the cost of LMI to the loan.

Building Insurance
Prior to settlement of your loan you will need to provide evidence that the property you are purchasing is suitably insured. In the case of a unit purchase this will usually be insurance taken out by the Strata Plan.

What to do now
1.	If you are ready to proceed, check out our home loan products and select one that best suits you.
2.	Determine if you are eligible for the First Home Owners Grant. Contact us if you need any help with this.
3.	Work out the amount you need to borrow and use our calculator to work out your repayments.
4.	If you have already located a property get a Solicitor or Conveyancer to review the Contract for Sale.
5.	Apply for you a loan online or ring us and talk to one of our home loan Consultants to see if you qualify for a loan.
6.	If you do qualify for a loan you need to send the signed application form and all the supporting documentation to assist in verifying and completing your application.

What you will need when you are applying for a loan.
When you apply, make sure you have the following items (we may ask for a few other things depending on your individual circumstances):
•	Details of your current employment income
•	Details about your assets - their value and any income you get
•	Details about your ongoing expenses and regular payments
•	Information about the type of loan you're after and any splits you want
•	The amount you want to borrow.
•	Copies of your identification eg drivers licence etc

Business

If you are self-employed you may have had trouble with the banks in the past when applying for a loan. With our LoDoc product you get a great home loan rate without the mountain of documents you usually need.

If you are unhappy with your existing lender or if you are simply looking for a better deal our LoDoc home loan may save you money in terms of interest rate and fees. If you are looking to consolidate a few debts or access some of the equity in your home we may be able to assist you by refinancing your existing debt.

Check out our LoDoc products right here.

LoDoc Home or Investment Loan Product Sheet.
LoDoc Line of Credit Loan Product Sheet.

How can we assist?
We need the minimum of paperwork if you are applying for a new loan. You will only be required to sign a declaration of income form to confirm your self-employed income. This is suitable for you if you have been self-employed for over two years and have not finalised your financial accounts.

If you have satisfactory repayment and no arrears history for two years during your loan term with iLOAN Corporation Pty LIMITED, we will reduce your rate to the standard variable rate after two years.

We can also help you with the changeover of an existing loan by contacting your current lender to arrange a payout figure and preparation of a discharge of your existing mortgage. We will require your written consent to do this, as well as signing any documents required by your existing lender.

We will need you to provide the last six months statements from your existing lender as proof of your existing debt and demonstration of your repayment ability. Don't worry if you have had a few minor defaults in the past, we may still have a home loan product to assist you.

We will require a valuation of your property, the cost of which you will be required to meet.

Miscellaneous Costs
You might have to pay early discharge fees or exit penalties to your existing lender. The level of fees may depend on the amount of your loan and the length of time you have had your existing loan. In the overall scheme of things, these extra costs may be more than covered in the longer term by a better interest rate and/or reduced fees we are able to offer.

Mortgage Stamp Duty
You will be required to pay mortgage stamp duty on the amount of the new loan. We will assist you to determine the amount.

If you have an existing loan, providing the name of the borrower and the property remain the same mortgage stamp duty on a refinanced home loan is generally exempt. However, if you increase the amount of the loan you will be required to pay mortgage stamp duty on the amount of the increase. We will assist you to determine your situation.

Accrued Interest
If you obtain a payout from your existing lender it will include all their costs to clear the existing loan, including accrued interest to the date of settlement. You will need to allow for the total amount when determining the amount of money you need to borrow.

Lenders Mortgage Insurance (LMI)
The LMI fee applies only when you borrow more than 60% of the property's value (on a low documentation loan), this covers the lender if for some reason you cannot repay your loan and the property is sold for less than the amount of the loan.

Building Insurance
Prior to settlement of your loan you will need to provide evidence that you property is suitably insured. In the case of a unit this will usually be insurance taken out by the Strata Plan.

What to do now
1.	If you are ready to proceed, check out our home loan products and select one that best suits you.
2.	Work out the amount you need to borrow and use our calculator to work out your repayments. You may need to contact your existing lender to determine the full amount required to refinance your debt, including any penalties you may have to pay.
3.	Apply for you Loan online or ring us and talk to one of our home loan Consultants to see if you qualify for a loan.
4.	If you do qualify for a loan we can arrange for one of our home loan Mobile Managers to visit you, at a time and place to suit you, to assist you to complete your application.

What you will need when our Mobile Manager calls.
When you apply, make sure you have the following items (we may ask for a few other things depending on your individual circumstances):
•	Current six month loan statements from your existing lender
•	Details of your current employment income information
•	Details about your assets - their value and any income you get
•	Details about your ongoing expenses and regular payments
•	Information about the type of loan (our home loan consultants will help you if you are not sure)
•	The amount you want to borrow.
•	Copies of your identification eg. drivers licence, medicare card, passport or rates notice etc

Credit Cards

What Is The Best Credit Card?

Many people ask themselves, "What is the best credit card?" and "Where do I find the best credit card rate?" these are normal everyday questions that we all want to know the answer to so that we can save some extra money.

All banks and financial institutions offer credit cards to their customers. One thing you must note is that what may be the best credit card deal for one person is not necessarily the best credit card product on the market.

The banking industry is very competitive today, trying to get your business, they now have to offer the consumer a very good product. Customers are no longer reluctant to change banks and do apply for a better credit card elsewhere.

With interest rates continually rising and fees attached to all banking products, customers now are searching for the best credit card and reward themselves with a substantial saving in interest rate fees and other banking charges related to credit card debt.

What is the best credit card?

In general terms, the best credit card is the one that gives you the greatest savings when making credit card purchases.

This may not necessarily translate to the credit card with the lowest interest rate being the best credit card for you.

Lots of people apply for a credit card online but don’t really understand what is the best credit card for them. This all depends on your financial situation and how you plan on using your credit card. For some customers, they are looking for what is the best buying credit card to make purchases with.

Basically all credit cards offer up to 55 days free interest on any purchases made so long as you pay by the due date. You get charged a low interest rate on your credit card and there are several different types of reward programs associated with these cards.

That’s just a basic guide of what is available with a best buying credit card deal. But why are these reward credit cards popular with consumers?

If the person using the credit card is always paying off the outstanding balance on or ahead of the due date then you are simply earning reward points for using a credit card to make purchases as opposed to using the cash in your wallet/purse or even borrowing money from the bank by buying items on credit.

Now, there are several different rewards available for customers who are searching for the best credit card.

Most people apply for Airline Credit Cards or Cash Back Credit Cards when searching for a rewards credit card.

Again, it really depends on the individuals financial circumstances. If you are using your credit card as the bank wants you to use it, then you are better off applying for the credit card that offers you the lowest interest rate to save as much in the way of interest fees as you can.

However, if you are using the credit card instead of cash and then using online banking to maintain a zero balance on your credit card, you’re undoubtedly better off with a rewards type credit card. You will find that the difference in interest charged on credit card cash advances and credit card purchases can be more than 5%.

Where do I find the best credit card rate?

You can check out the best card credit rates offered by each of the banks and financial institutions through our online comparison chart. It shows a listing of all the credit card rates and the charges such as membership fees that are associated with these cards.

Interest rate fees do vary from bank to bank. You can compare the rates offered by your bank and another competitor with a similar product.

Remember that transferring your credit card debt from one bank to another is not only possible but also encouraged by the banks. They do want your business and doing this results in you (depending on which credit card you choose) not being charged any more interest on your existing outstanding balance.

Yes that’s correct. The outstanding balance of your account must be repaid but you will not be charged interest on your account until you have done so.

Please note that the terms vary on outstanding balance transfers so please be sure that you have chosen the right credit card when applying.
Some credit cards offer a term of the life of your outstanding balance while others may offer the no interest introductory offer for a period of six months.

You will find that online credit card applications are available through the links if you find a credit card product that better suits your financial needs than the one you currently have when checking our online comparison chart of credit cards.

To get the best cards for you, click here...