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Line of Credit Loan

Thrive has Full Document and Low Document Line of Credit options available to all borrowers. These options both provide for capitalization of interest. This means that as long as the borrower is within their approved limit, no set repayment is requied.
Thrive’s Line of Credit facilities have 2 available options:

Stand alone LOC
Split option – Separate portion of a loan

Thrive's normal lending policy and procedures apply in all other respects.

Minimum loan amount	$50,000
Maximum loan amount	$1,000,000
Minimum portion amount	$10,000
Maximum LVR	90%
Interest only	15 years
Fixed interest option	N/A
Minimum loan term	25 years
Maximum loan term	40 years
Application fee	No, if borrowing > $250 000 (A saving of $775.00)
Valuation fee	First Valuation free (if borrowing > $250 000 a saving of up to $330.00), additional valuations paid by borrower
Free salary Credit	Yes
Redraw available	Yes
FREE Reward Package	NO
LMI premium payable	Thrive if under $500, 000 or 80% LVR Borrower if over $500, 000 or LVR over 80%
Split loan available	Yes
Inward direct debits	Yes
Outward third party direct debits	Yes
Inward direct credits	Yes
Internal portion transfers	Yes (if a split loan)
Inward deposit book payments	Yes
Inward BPay	Yes
Outward third party direct debits	Yes
Outward cheques	Yes
Free Internet and telephone Banking	Yes
Monthly/Annual fee	Nil

The Line of Credit portion will be interest only for a period of fifteen (15) years and then will amortise over the remaining loan term. The monthly installment will switch to principal and interest, on the maximum available amount, regardless of drawings.

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