Product: Prospa Business Loan Tier 3
Type: business
Max LVR: -%
Amount Range: $0 - No limit
Max Term: 60 months
Rate: 9.99% - 12.99%
Contact: | partners@prospa.com
Purpose: refinance
Property Type: residential
LVR: 47.07%
Amount: $10,000,000
Term: 300 months
Property Value: $34,035,000
Address: 41a Clarence Street, Devonport; 1A Harrison Road, Mt Wellington; 2 Thornton Road, Milford; 100 Market Road, Epsom; 9 Patey Street, Epsom; 7 Abbott Way, Remuera; 27 Union Street, Auckland; 141 & 141B Centreway Road, Orewa; 8 Bass Road, Albany
| Filter | Result | Client Value | Lender Requirement | Note |
|---|---|---|---|---|
| Loan Type | Fail | refinance (residential) | business | Client: refinance (residential property), Product: business -> mismatch |
| LVR Limit | Pass | 47.07% | - | |
| Loan Amount | Pass | $10,000,000 | - | |
| Security Type | Fail | residential | commercial | residential not accepted |
| Credit Score | Pass | - | 700 | |
| Monthly Turnover | Pass | - | $55,000 | |
| Property Owner | Pass | Yes | Not required | |
| Borrower Type | Pass | Self-employed, Investment | Any |
| Dimension | Raw Score | Weight | Weighted Score | Visual |
|---|---|---|---|---|
| LVR Headroom | 50 / 100 | 25% | 12.5 |
|
| Data missing (client LVR or lender max LVR not set) -> default 50 | ||||
| Interest Rate | 66.7 / 100 | 25% | 16.7 |
|
| Rate = 9.99%. Formula: (20 - 9.99) / 15 x 100 = 10.01/15 x 100 = 66.7. (Scale: 5% = 100, 20% = 0, linear) | ||||
| Loan Amount Fit | 80 / 100 | 15% | 12.0 |
|
| Amount $10,000,000 >= min $0, no upper limit -> 80 | ||||
| Term Match | 0 / 100 | 15% | 0.0 |
|
| Client term 300mo > Lender max 60mo -> 0 (term too long) | ||||
| Payment Flexibility | 80 / 100 | 10% | 8.0 |
|
| Lender offers 1 type(s): principal_and_interest. Base = 1 x 33 = 33. Client prefers 'principal_and_interest' which is available -> max(33, 80) = 80 | ||||
| Turnaround Speed | 50 / 100 | 10% | 5.0 |
|
| Turnaround time not specified -> default 50 | ||||
| TOTAL | 100% | 54.2 |
|
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