Mortgage Shortfall Loan

At Cash Direct we help take the stress out of borrowing money when you simply need short term funding to get you through a hump in your regular family budget.  Such a situation often emerges when you are in the process of settling a mortgage on a new home. It’s a long term loan, but the initial settlement process often leaves the new home purchaser a little short on funds for either the mortgage settlement or in other areas of regular life due to the initial strain of that settlement process. It can also occur when you have an existing mortgage and simply hit a bump that puts pressure on your ability to make the mortgage repayment and keep up with your living budget expenses. Cash Direct can help you get through these situations with a tailored mortgage shortfall loan.

A mortgage shortfall loan can be used for a range of purposes:

  • Funds to complete settlement of the purchase
  • To cover Stamp duty or GST incurred
  • A loan for new furniture or a white goods for your new home
  • Making up on other expenses in your life under the initial strain of your mortgage settlement

With a Cash Direct mortgage shortfall loan, we typically lend between $1,000 to $3,000 and can have the money wired to your account within 24 hours of completing our simple application process.

Your loan will be repaid over 6 months so you avoid incurring additional long term loan commitments and interest expense that you may otherwise face with a mortgage extension or personal loan.

Our application process is short and simple and can start by submitting an initial application online or by calling us on 1300 WE HELP.

To complete your application, we’ll need the following documents:

  • Photo ID (Passport, Driver’s License)
  • Two pay slips
  • Current Bank Statement for the past 3 months

Your application process will specify the needs of your loan and assess your ability to repay on top of your general budget commitments and mortgage repayments.