Resimac Prime Non-Gen 95 is presented as a high loan-to-value home-loan option for borrowers who do not use a family guarantee. The product name suggests lending up to 95% LVR, but a broker must confirm the current product guide, mortgage-insurance rules and eligibility before recommending it.
It may suit a prime borrower with a smaller deposit who can meet the credit and property requirements. Current interest rates, fees and policy should come from material available through the broker’s approved channel.
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Who the loan may fit
Start with borrowers who otherwise fit prime loans but have less than a 20% deposit. Check employment and income evidence, existing liabilities, living expenses, credit conduct and the source of the deposit. Then confirm that the property type and location fall within current policy.
Compare the product with a lower-LVR loan and any suitable alternative such as Resimac Prime Flex. Include mortgage insurance and establishment costs in the comparison rather than focusing on the deposit alone.
Checks before lodging
- Confirm the maximum LVR for the borrower, purpose and property.
- Check whether mortgage insurance applies and how its cost is treated.
- Verify deposit evidence and any genuine-savings requirement.
- Run serviceability with the current lender calculator and policy inputs.
Application and settlement
Use the lender’s current application process and submit the complete evidence set. Explain any unusual transaction, gifted funds or credit event before lodgement. A mortgage broker should record why this product meets the client’s objectives and why the extra cost or risk of a high-LVR loan is acceptable.
Recheck the approval conditions before settlement. Product policy can change, so the final choice must rely on the documents and pricing in force for that application.
