FF Funds or Similar Mortgages | SMSF Available

Key Product Parameters

  • Borrower SMSF Trustee
  • Security Residential and commercial properties
  • Maximum LVR Residential - 80%, Commercial - 65%
  • Maximum Loan Size $2 million
  • Repayments Principal & interest

Lending Criteria

Loan Purpose

• SMSF Trustees can purchase or refinance a residential or commercial property within their SMSF portfolio.

Minimum Net Assets

• $250,000

Income Verification

• Clients need to demonstrate income assessment and serviceability on a full-doc basis and provide a 12-month recent SMSF statement.

PAYG

• 2 most recent payslips (issued within 6 weeks of application).
• Most recent PAYG summary.

Self Employed

• 2 years recent tax returns for SMSF entity
• 2 years financials for SMSF entity

Credit History

• Paid defaults under $1,000 accepted, a near prime premium will apply.

Security Location

• Metro and non-metro locations accepted, a near prime premium will apply for non-metro locations.
• Additional loan size and LVR restrictions apply for ACT, SA, WA and non-metro locations​.

Acceptable Securities

•Land area of subject security must not exceed 1 hectare or 2.5 acres.
• Units & apartment buildings must not exceed 6 floors.
• Acceptable commercial securities; office, factory, warehouse and industrial.

Loan Size Limits

• $2 million loan per security.
• Maximum aggregate lending to a single director or shareholder is $5.5 million (lower amount can be negotiated).

Pricing

SMSF | Residential and Commercial
LVR
  • ≤60%
  • ≤65%
  • ≤70%
  • ≤75%
Residential
  • 5.89%
  • 5.99%
  • 6.09%
  • 6.09%
Commercial
  • 6.49%
  • 6.59%
Est. Fee
  • 1.10%
  • 1.35%
  • 1.99%
  • 1.99%

FF Funding Niches

  • Only need one of the following for Alt Doc income verification (Accountants Declaration, or BAS, or Business Bank Statements)
  • Can fund >$2m with just an accountants' declaration for Alt Doc
  • Defaults <$1000 & >2 years accepted
  • Payout Private Loans
  • SMSF loans available for Residential & Commercial
  • Aggregate exposure $5m
  • Fully assessed conditional approval in 48 hours
  • No credit scorecard algorithm
  • Access to credit analysts (decision makers)
  • No personal bank statements
  • We don’t use CCR (Comprehensive Credit Reporting)
  • Late payments on mortgage payments accepted
  • No Clawbacks
  • 12 Month ABN for Full & Alt Doc considered
  • No annual reviews on commercial loans

Near Prime Pricing Premium

  • Non-metro postcodes
  • Minor credit impairment
  • ABN <24 months registration

Loan Fees

  • Annual Fee: $360
  • Settlement Fee: $490 (please note that this fee is deducted from the gross loan amount at settlement)
  • ABN <24 months registration
  • Valuation Fee From: $495
  • Solicitors Fee: At Cost
  • Discharging within the first 3 years of loan term will trigger early repayment fees

Loading

  • Interest Only - 0.35%
  • Near Prime - 0.35%
  • Investment - 0.20%
  • >$1.5m - 0.20%
  • >$2.0m - 0.50%
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