QLD
Land loan and construction loanI'm not specialized in giving out loans, but I've also recently gotten a construction and land loan at the same time. I couldn't have done it all by myself. I turned to a… Jojac replied 13 January 2021 ago JojacJan 13, 2021 1:42 pm Finance options for a poolMy cheif concern would be jeopardising the build loan by taking out more finance - so definitely be upfront with the bank / broker.
Cost effective....I see both sides. I… Bad Credit Home LoansAre you worried about your bad credit? Have you tried to apply for a loan and failed? Intellichoice is happy to share how we can help you through our direct and ethical… Bank Loan - shortfallDifficult situation, but nothing is impossible. Why do you change jobs so often? plc replied 27 July 2017 ago Parent Security and FHOG - QldHi 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… plc replied 15 May 2017 ago Westpac Home Loan - Draw Down processDefinitely 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… Home Valuation Trouble - New Construction
That's great news! Shame about the savings but once your place is built and you're in you can scrimp and save for a bit to catch up.
We're using an architect and it's… Adding in items after loan approvalGenerally any additions after a loan has been approved need to be paid out of your pocket.
If you do want to add it into the contract as a post contract variation to… plc replied 14 February 2017 ago Confused.....the debt is in his personal name, spread across a number of personal credit cards in his name. Which bank?We've changed twice over the years and are currently with G&C Mutual Bank. Have been with them for about 4 years and so far the positives are:
Great customer service - I… Do Any Banks Pay Lump Sums?The bank will lend the $$$ as per the builders contract fixtures and fittings. If you want the platinum taps and gold drains and its not in the builders contract, dont… Valuation risk on build cost?Everyones 'opinion' on what the per sq metre range means diddy squat. Talk to local agents and get a variance of price point. The only 'opinion' that carrys ANY weight is… PonzuMay 04, 2016 12:09 am portable loanHi Yvette,
Bec summarised it pretty effectively. Portability works great for people who are downsizing because as pointed out the loan size isn't able to be increased.… plc replied 28 January 2016 ago Just A Quick QuestionI paid $1k to the land people, then signed the contract with a 21 day finance clause. On the last day the bank approved my finance, then I paid the balance of the 5%… aloenyx replied 1 November 2015 ago Do We Need To Keep Reapplying?so you have two loans, one for the land and one for the construction? if so then your broker is right, because even if you have unconditional, its only valid for a period… Ponzu replied 9 October 2015 ago PonzuOct 09, 2015 9:58 am What Does The Bank Value On?My hisband has now decided to be difficult and won't listen to a word I say. Hes been swayed by the person building the house next door who is a valuer and is building a… Is This Normal Procedure For SettlementYep, as others have suggested, that is normal, that's the reason you pay your conveyancer/lawyer, to act on your behalf. They will do all the work behind the scenes, all… plc replied 20 July 2015 ago Need To Know If This Is TrueAsk them to apply for discretionary pricing and see what they can do. Happy to look at what I think it should come in at. I'm assuming it's only a fairly small loan… Between A Rock And A Hard PlaceTom's right/ If it gives you some comfort get prepared for the maximum loan amount you think you will need, and then it's only the valuation thats a variable - removes one… Does Everyone go Over Budget??Funnily enough we came in under budget, only by about $500 but still under. It was on account of the builder over estimating what was required like they estimated we'd… Rams or Westpac??They are independent and have completely different policies so you may fit better with one than the other. pricing is similar and fees too. They're neither of the the most… Help for first home buyer!Hi Steve,
Yeah being a first home buyer is hard especially when you aren't sure where to even start.
You generally need a minimum of 5% genuine savings + costs as a… Adding a pool to the mortgage?Hi, usually having interest only a loan and not having paid down the loan much will not be a factor in the bank's criteria for extending your home loan. As Rebecca (above)… Credit Report problemsI think it is not their qualifications that is an issue, they will have a degree or diploma, but the risk management. They will have to assume likely value in the event of… Low valuation - what to do?
Ok thanks for that! When do you find out if it's been undervalued etc, when they come back with their finance offer? Does the bank actually tell… plc replied 4 September 2014 ago overcapitalisation ???
Be careful with gifted funds if you plan to give them back. The lender will make them part of the loan.
As the OP said, and you said yourself, he has no issue with… Crazyk replied 11 August 2014 ago Valuations - street vs area vs suburbThey will be using the plans and specifications, etc from the builder to determine the valuation for construction. Total valuation is based on the land value plus build… plc replied 9 May 2014 ago Building for less than contract value.This sounds like a really terrible plan.
First of all, I think you were ill advised by your broker and cannot understand why they would give you such advice, except… shapeMar 23, 2014 7:13 pm Rate questionHi jb_money
That was a great post, worth more than 2 cents, really benefited me. Thanks! How long for finance approval?I think it depends on a lot of things, we didn't think it would take long to get approval for the construction of our home (we already had the land). However
-we have a… Agape replied 10 June 2013 ago AgapeJun 10, 2013 1:11 pm Views: Fixed Loan Vs Variable ?
Heres my 2 cents on fixed vs variable
Fixed Rates
Good Bits - Your interest rates are fixed in (and if rates go up … who cares) and the monthly repayments remain the… Stig replied 28 May 2013 ago StigMay 29, 2013 12:27 am
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