Product Parameters
Genworth endeavours to be flexible and commercial in its approach to underwriting risk, insuring loans for a range of purposes, including home ownership, investment and vacant land.
We are committed to discovering innovative ways to assist our customers and are therefore continuously assessing changes within the mortgage industry and developing products and policies that reflect current and emerging market conditions.
With this in mind, we have developed a number of products to allow more people to enter the housing market and accumulate wealth through property, while at the same time providing our customers with the benefits of 100% mortgage insurance cover.
Genworth's current product range is as follows:
| Product Name | Target Market | Max Loan Amount | Max LVR |
| Standard LMI | Suitable for a wide range of borrowers for multiple loan purposes. |
$1,000,000
$850,000
$750,000
|
80%
90%
95%
|
| HomeBuyer Plus | Any borrower including First Home Buyers who wish to purchase or construct an owner-occupied property with a limited deposit. |
$750,000
$650,000
|
90%
95%
|
| Family Pledge |
Any borrower, especially First Home Buyers with no deposit.
Family supported security required.
| $750,000 | 85% |
| Limited Income Evidence (Low Doc) | Self-Employed Borrowers with limited income evidence. | $1,000,00 | 80% |
Product Parameters are covered in section 4 and are to be read in conjunction with the Underwriting Policy that follows.