SMSF loans
We offer SMSF loan products from nearly 30 banks, financial institutions and lenders. We are specialized in both residential and commercial investment property loans.
Why use our SMSF mortgage services?
There are huge differences in lending policies , interest rate and fees (application fees etc) for SMSF loans between different banks. Banks’ lending policies are much strict with SMSF loans, such as some banks may require SMSF has at least $200,000 liquidable assets before applying and 10% cash balance after the settlement of the property.
Without knowing lenders’ policies in details or all the loan products on the market, you may pay too much interest or fees or your application may be declined and may also affect your personal credit record.
What conditions you need to meet before applying for SMSF loan by iCare Super?
- The net assets of your SMSF is more than $150,000.
- You would like to borrow more than $150,000
- At lease one member has consistent employer or member contribution for the last two financial years
- No member is in pension phase
- It is preferred the trustee of your SMSF is a company
- The status of SMSF on superfund lookup is complying
What is the loan to value ratio (LVR) for an SMSF loan?
You can borrow up to 80% for residential and 75% for commercial properties.
What is the loan term?
Up to 30 years for both residential and commercial properties.
What is the interest rate for a SMSF loan?
The interest rate is from 4.59% for residential and 5.05% for commercial properties.
How long does it take for a SMSF loan to be approved?
Unlike normal loan application, a SMSF loan takes much longer to get fully approved. We recommend trustees need to make sure to have at least 3 months settlement period from the purchase contract signing date.
Note: Mortgage services are provided by Gavin Ma, director of iCare Super, CRN: 475893.