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By MortgageMix
July 5, 2012
Australian First Mortgage has expanded its product range in the Flexible Option Programme.
Effective immediately AFM will accept applications as part of the National Rental Affordability Scheme (NRAS).
NRAS is an Australian Government initiative to stimulate the supply of 50,000 new affordable dwellings.
Successful applicants are eligible to receive an incentive for each approved dwelling, where they are rented to eligible low and moderate income households at a rate that is at least 20% below the prevailing market rate.
First mortgage loans will be acceptable up to an LVR of 90%, subject to LMI and satisfactory valuation.
AFM recently introduced lending to SMSFs in both residential and commercial properties.
Related Story
AFM appoints new joint MD - Fortifying its commitment to the non-bank lending channel, Australian First Mortgage has made yet another strategic appointment.
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