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Last Post
pw1923
pw1923
9 June

Building with New Living Homes

Building with New Living Homes
1, 2

They aren't going to encourage you to do that because they won't make money on the mark-up.

22
4629
pw1923
Jun 09, 2018 7:16 am
pw1923
Charlz
Charlz
10 May

First step homes

First step homes

Has anyone borrowed with first step home loans?

0
623
Charlz
May 10, 2018 6:58 pm
yoyohv
yoyohv
3 May

Slab Progress Payment shortfall?

Slab Progress Payment shortfall?

Hi all, yeah. It was the FHOG.... All sorted. Apparently the builder got all the invoice paid in full... Only the difference between the invoice and FHOG was charged on…

8
667
yoyohv
May 03, 2018 3:31 pm
RjMaan
RjMaan
14 April

Wanting to buy but.....

Wanting to buy but.....

I think you can also ask some of your friend to lend money since you are unable to borrow money from bank.

2
1282
RjMaan
Apr 14, 2018 1:31 pm

Figuring out what size mortgage we can finance

Figuring out what size mortgage we can finance

You can mitigate some of the risk by considering a fixed rate - and in terms of affordability if the bank has already passed you through their calculators the next and…

7
875
becjarrettdalton
Apr 09, 2018 11:26 pm
becjarrettdalton
2
1959
mbwest
Mar 23, 2018 3:43 pm
lad2018
lad2018
15 March

Lender Mortgage Insurance Question

Lender Mortgage Insurance Question

Try to check with another insurance online calculator, like here: But indeed, for me your argument and calculation sounds good

3
741
lad2018
Mar 15, 2018 3:33 pm

Architect/Designer fees

Architect/Designer fees

The Architects & Builders want to be paid for work nothing is free, especially, if the building contract falls over If you haven't got enough for fees (2-3%) then you…

3
1248
StructuralBIMGuy
Mar 07, 2018 11:14 am
StructuralBIMGuy
becjarrettdalton
becjarrettdalton
20 February

Things to discuss about mortgage penalty

Things to discuss about mortgage penalty

Erm - this is Australian site - in Australia no penalties for variable rate - go Aussie!!! The rest doesnt really apply to us either

1
1250
becjarrettdalton
Feb 20, 2018 4:56 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
19 February

Go cheap now or better later?

Go cheap now or better later?

Got it. That’s lending criteria....tough isn’t it. So you can’t even buy a fixer upper? Potential future knockdown?

3
378
becjarrettdalton
Feb 19, 2018 6:06 pm
becjarrettdalton
plc
plc
9 February

Buy land now, or jumping the gun?

Buy land now, or jumping the gun?

As Bec says, only you can make the call. Its a lifestyle decision. Just make sure you are able to afford the loans with an equity release and there is no shortfall in…

2
689
plc
Feb 09, 2018 10:04 pm
HDRider
HDRider
29 January

Valuation based on preliminary floor plans

Valuation based on preliminary floor plans

Hi Guys, Does anyone know if a bank (/Valuator) can consider preliminary floor plans and site plan (without…

0
289
HDRider
Jan 29, 2018 3:44 pm

Build Loan

Build Loan

Do you have a spare room??? Sounds like bliss!

7
1190
becjarrettdalton
Jan 21, 2018 2:14 pm
becjarrettdalton
JAMBY
JAMBY
2 January

FHOB - Newbie nerves

FHOB - Newbie nerves

You should be fine. They mostly care about income, savings and debts and you can tick all three boxes. I know when we were in a similar financial situation and went for a…

1
720
JAMBY
Jan 02, 2018 12:29 am
JAMBY
becjarrettdalton
becjarrettdalton
15 December 2017

Finance different trades in custom build

Finance different trades in custom build

Perfect, that’s a great idea. Lock down exactly what you want, visit the suppliers they use & make your selections as early as possible.

3
516
becjarrettdalton
Dec 15, 2017 10:16 pm
becjarrettdalton
rakshu_n_ranch
rakshu_n_ranch
20 November 2017

Land evaluation in Highbrook Precint, Gateway Estate

Land evaluation in Highbrook Precint, Gateway Estate

Hi, I picked up a stage 15 lot at this estate. What has the bank evaluation been on lots around this estate? Has there been huge shortfalls or has the land value…

0
415
rakshu_n_ranch
Nov 20, 2017 2:58 pm
dream2017
dream2017
12 November 2017

Is booking a land and on-sale later a good strategy?

Is booking a land and on-sale later a good strategy?

Hi Sorry, was out of touch a bit and late in response. Yeah you are right. It would be a bit of gambling on the return, I agree. Thanks for the input. It helped.

5
627
dream2017
Nov 12, 2017 8:45 pm
becjarrettdalton
becjarrettdalton
8 November 2017

Interest Only Payments end after construction?

Interest Only Payments end after construction?

You know you're allowed to pay extra, and any extra you pay comes off principal...if that helps. If you're wanting to start sooner

5
670
becjarrettdalton
Nov 08, 2017 4:00 am
becjarrettdalton
michae
michae
19 October 2017

Second Mortgage

Second Mortgage

Hi Many mortgage lenders are reducing the availability of second mortgage programs as the secondary…

1
508
michae
Oct 19, 2017 9:50 pm
michae
michae
michae
19 October 2017

First home - How much do I need to save?

First home - How much do I need to save?

Great Job! you are one step ahead for people…

17
4879
michae
Oct 19, 2017 9:27 pm
michae
michae
michae
15 October 2017

Finance not approved - preliminary deposit

Finance not approved - preliminary deposit

I agree with @lovisa . It will also depends on the time gap between the…

2
996
michae
Oct 15, 2017 4:10 am
michae
michae
michae
13 October 2017

dreaming?

dreaming?

Before you look for mortage broker, you should consider these: First, talk with someone who have already done this and gain some tips from them. Second, discuss this…

3
807
michae
Oct 13, 2017 7:49 am
michae
becjarrettdalton
becjarrettdalton
12 October 2017

Construction Loan for off-grid house

Construction Loan for off-grid house

So the technical response is 2wd access... up to the valuer to determine that. Again, if the sewer system is in the contract and meets code it should be fine - that in…

3
459
becjarrettdalton
Oct 12, 2017 2:54 pm
becjarrettdalton
poida
poida
7 October 2017

First home buyer- over committing on finance?

First home buyer- over committing on finance?

I would advise to only take financial advice from someone who is licensed. I'd be surprised if the people commenting are qualified to provide advice.

10
1144
poida
Oct 07, 2017 8:27 pm
michae
michae
6 October 2017

First Home Buyers - Stamp Duty

First Home Buyers - Stamp Duty

Hi! , By definition, stamp duty is a tax which must be paid on…

7
946
michae
Oct 06, 2017 8:06 pm
michae
michae
michae
6 October 2017

Construction loan repayments

Construction loan repayments

You might probably know that, loan repayments are also interest only during the construction period, providing comfort and security to renovators and home builders by…

6
1096
michae
Oct 06, 2017 7:32 pm
michae
michae
michae
28 September 2017

Land and Construction Loan

Land and Construction Loan

Well, Buying land & building a new home can be an exciting experience. And if you plan to get financing you need to understand…

4
1016
michae
Sep 28, 2017 5:26 pm
michae
plc
plc
29 August 2017

Land loan

Land loan

As Bec mentioned, rent won't be needed to be taken into account if you are constructing for your owner occupied residence. The land loan regardless of whether it's left…

7
867
plc
Aug 29, 2017 12:58 pm
plc
plc
27 July 2017

Bank Loan - shortfall

Bank Loan - shortfall

Oh, I didn't realise that you went with a broker. The way you were saying that you were calling a bank direct is something that a broker would do on your behalf. So sorry…

7
1052
plc
Jul 27, 2017 9:45 pm
plc
plc
24 July 2017

Finance - External Broker vs. In-house Broker?

Finance - External Broker vs. In-house Broker?

Yep msalmank, have to agree with Bec. Go with whoever you feel comfortable with. Having everything done in house might seem easier, however you need to realise that there…

5
585
plc
Jul 24, 2017 11:59 pm
wongbruce
wongbruce
12 July 2017

Financing additional items after handover...

Financing additional items after handover...

Usually once the house is built so long as the value of the property has increased you should be able to top up your loan. Ensure you don't exceed the 80% lending ratio or…

4
727
wongbruce
Jul 12, 2017 9:46 pm
plc
plc
10 July 2017

Time Frame of when to apply for construction loan?

Time Frame of when to apply for construction loan?

There are some lenders that will allow you to construct your property and drawdown a loan up to a year after land settlement. So if you have all the drawings, contracts,…

2
686
plc
Jul 10, 2017 2:51 pm
plc
plc
3 July 2017

Henley home, partially built- not Advice

Henley home, partially built- not Advice

Hi Anjan, Bec mentions a partially built home? Was it started by one builder and now you are looking at another to finish it off with a different one? Anyhow, she is…

6
752
plc
Jul 03, 2017 10:22 am
plc
plc
16 June 2017

Conditional approval subject to valuation

Conditional approval subject to valuation

It's good to hear you made allowances during the construction phase with continued rent, a lot of people dont do that. If you're eligible for FHOG, then that's some…

7
1217
plc
Jun 16, 2017 1:01 pm
preeeth
preeeth
7 June 2017

Home loan interest rate bottomed out in Australia?

Home loan interest rate bottomed out in Australia?

Thanks Tej, Tom and Bec...your inputs have created good awareness on fixing rate, with this I will be able to assess my situation and make wise decision on interest rates 😄

6
910
preeeth
Jun 07, 2017 7:19 pm
preeeth
becjarrettdalton
becjarrettdalton
5 June 2017

House and Land Package Finance - Nervous First Home Buyers

House and Land Package Finance - Nervous First Home Buyers

HI Caydenn, I haven't run the numbers on affordability as thats a much bigger conversation. Your broker has the full story so I would trust them. As mentioned above, the…

3
798
becjarrettdalton
Jun 05, 2017 2:35 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
5 June 2017

Renovation loan help >_<

Renovation loan help >_<

Huh? Thats really strange, did you issue documents and sign and return them? If so, I think whats probably more the case is they make you use all your money first before…

1
370
becjarrettdalton
Jun 05, 2017 11:16 am
becjarrettdalton
Slugcatcher
Slugcatcher
26 May 2017

Construction loans

Construction loans

Thanks for the answers.

3
775
Slugcatcher
May 26, 2017 9:32 am
plc
plc
25 May 2017

Vacant land loan chances?

Vacant land loan chances?

In terms of a loan, everything is taken into account. So the liabilities of the car loans and the credit cards will be looked at as part of the scorecard that most lenders…

2
646
plc
May 25, 2017 10:59 pm
becjarrettdalton
becjarrettdalton
18 May 2017

Construction loan question

Construction loan question

Sorry - this only just came through. It's up to the valuer and the way the contract is worded - if the valuer thinks what is in the contract is ok, or if there's enough…

5
1023
becjarrettdalton
May 18, 2017 3:06 pm
becjarrettdalton
plc
plc
16 May 2017

SPLIT LOANS

SPLIT LOANS

Unfortunately no lender out there will allow that. Basically anyone on title needs to be on the loan in some fashion, whether as borrower or guarantor. I don't know if…

1
489
plc
May 16, 2017 3:20 pm
plc
plc
15 May 2017

Parent Security and FHOG - Qld

Parent Security and FHOG - Qld

Hi RachM, In that case still eligible for FHOG. Don't understand why the broker is asking for a stat dec from them though, I would have thought that the guarantors would…

3
495
plc
May 15, 2017 12:59 pm

10% deposit & clear debts VS 17% deposit with debts for land

10% deposit & clear debts VS 17% deposit with debts for land

It actually comes back to income & timing for your build & what you might need to hold back for finishing items on the home (landscaping etc) - yes it won't affect LMI…

4
768
becjarrettdalton
May 05, 2017 9:17 am
becjarrettdalton
becjarrettdalton
becjarrettdalton
2 April 2017

Westpac Home Loan - Draw Down process

Westpac Home Loan - Draw Down process

Definitely sign the invoice (when you're satisfied the work is done) and write "please pay" or something like that, add the form Westpac sent you in the beginning for that…

7
913
becjarrettdalton
Apr 02, 2017 6:13 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
2 April 2017

Mortgage / Title questions

Mortgage / Title questions

Commbank are notoriously slow for registration which explains the delay & those look like normal registration fees, I am more convinced its transfer duty but only your…

3
550
becjarrettdalton
Apr 02, 2017 6:08 pm
becjarrettdalton

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