AU
I think I screwed up on the maths.Thanks all for the comments and congratulations. We got he final figure today: 170k for house and $212 342 for house. Base price of the house is $205k and we put in some… First Homeowner Grant in VicHe wont nuke it all, Worst case scenario is that he doesnt continue the BOOST, which will put down federal FHOG to $7k. Plus the now larget vic one. post Easter valuations
That sucks PFM... ours came through not a problem... thank god! ALso in regards to everyones LMI our was only 4k and we borrowed 206k for the house. I paid more LMI buying… CiNnY replied 11 May 2009 ago CiNnYMay 11, 2009 10:05 am The tax bonus
Hi D@n, I got my cheque in the mail today, I hope you get yours soon! 20% Required for Home LoanI want to avoid having to take out Mortgage Insurance. I currently have 32K in the Bank and 47K in Shares so i technically have 20% for a loan… thlo replied 12 May 2009 ago Line of Credit to Pay MortgageHi Guys
I was just wondering if anyone has tried paying their mortgage off using the "Line of Credit" method. We have been advised to do this… thlo replied 12 May 2009 ago Offset Stamp Duty with FHOGI also dont really understand what the question is
But stamp duty is only payable on land. So if you buy land, then build on it, you are only charged stamp duty on the… FHOG for deposit.Good luck with your housebuild, Green Nooby
Can you post a plan of the house you are intending to build?
Yes, I have heard of Sarah Homes - we had a transportable… Helyn replied 14 May 2009 ago HelynMay 14, 2009 10:30 am Bridging loanBridging can be risky business. If the old home doesn't sell within anticipated time frames thing will get ugly. Waiting until you sell is the safest option. bill-m replied 17 May 2009 ago CHARGE FOR BANK BOND/GUARANTEE?I am surprised the reason for the Deposit Bond and the associated fee was not explained to you. As kyton said, deposit bond is a surety product.
You can expect to pay a… thlo replied 19 May 2009 ago bloody bank
Thanks for pointing out this thread thlo, interesting reading.
From my enquiries with Homestart, their construction loan allows 9 months… thlo replied 19 May 2009 ago No-Deposit Home Loans?
Thanks everyone for the replies and suggestions.
Yes, my mum and dad will be living with me and also my girlfriend.
Gather all the information you guys/girls gave me, i… ginz88 replied 21 May 2009 ago FHOG as part of the house depositThe victorian government says:
"In limited circumstances the Commissioner may approve an extension to the commencement and completion date where the delay was outside the… btherl replied 23 May 2009 ago Buying a house from FamilyThanks for all the advice. I think that we shouldnt have too many problems as we will not be paying much under market value (if anything), we are first homebuyers so we… What happens at Settlement?Bit of an anti-climax. I was anxious/curious over nothing
Bank just confirmed that they'll pay their amount tomorrow and asked me when I like to make the first… ChrisL replied 25 May 2009 ago Fixed rate on Construction LoanWe had standard variable rate during construction( interest only but optional to pay extra off principal) and no choice to have it fixed - after settlement of house, loan… Helyn replied 26 May 2009 ago HelynMay 26, 2009 1:45 pm Builders deposit?I paid $1k and my contract is due to be ready tomorrow. This is with a large volume builder. They have done soil test and site survey. I'm also buying land from them,… btherl replied 28 May 2009 ago ConsolidatingDefinitely roll them into your home loan if you can - but increase your loan repayments with some of the cash it frees up. can i use home loan to pay off car loanthanx guys..i hadnt thought of that angle. I am soo happy that i found this site about a month ago. it is a must for ppl who are building a house for the first time!!! sveta replied 29 May 2009 ago svetaMay 29, 2009 11:07 pm Rates going up tomorrowThis is a very interesting thread, I'm looking at locking in my home loan at the moment and really unsure if the rates will drop or go up but either way it looks like the… freebo replied 1 June 2009 ago Finance questionsI've just bought an apartment off the plan and didn't have 10% either as I am using the FHOG.
In my case the vendor agreed to accept a deposit bond for 10% and I paid a… Help Legal advice needed PLEASE!!l think you will find that your application forms that yous signed and returned are an application only. They are not bound to meet with their… What do you think?
haywgl, even if they are successful in arranging the finance for that amount, they will start feeling the pressure very soon when the rates start trending up. thlo replied 16 June 2009 ago HELP! First home buyer Construction loans!Yep, same for us
LMI was paid on the land loan.
When we get the construction loan, they calculate the LMI on the whole loan (land and construction combined), then take… jodge replied 17 June 2009 ago jodgeJun 17, 2009 12:47 pm Financing Issue - Please advise :DIf you can get written quotes for it all and include it with the paperwork for your mortgage then the bank might include it for… thlo replied 17 June 2009 ago Which Lenders Pass on February 09 Rate Cut?
Such a short time ago, we are discussing which lenders pass on RBA rate cuts.
A few months later we are discussing all the rate increases by banks independent of RBA. thlo replied 17 June 2009 ago fxaudJun 22, 2009 10:54 pm STAMP DUTY TO BE ABOLISHED????????I think the new article on realestate.com.au is suggesting that stamp duty will be abolished for every purchase, regardless of whether the property is new, or under $600K… jodge replied 25 June 2009 ago jodgeJun 25, 2009 4:36 pm Stamp Duty If a developer has built a house on the land and it has not been lived in, you may also only have to pay stamp duty on the land.
this… Helyn replied 25 June 2009 ago HelynJun 25, 2009 9:51 pm 1st Home Buyers GrantMy son got FHOG and he didnt have to do this.
But that was in SA and also was for an established property - maybe different states or its only if your'e building.
His… Helyn replied 27 June 2009 ago HelynJun 27, 2009 2:11 pm
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