Home
Pros
Forum
  • About
  • Join Community
  • Contact
Reply
WatchingStarredHistory
InboxSent
MembersPros
#Unanswered     #Active

Forum
Home Finance
Topics
Author
Replies
Views
Last Post
becjarrettdalton
becjarrettdalton
23 July 2015

95% loan

95% loan

There is one lender who will do 95% plus cap the full mortgage insurance - as everyone has said the mortgage insurance won't be cheap but in a rising market saving extra…

6
1254
becjarrettdalton
Jul 23, 2015 11:47 am
becjarrettdalton
3
606
Linda01
Jul 22, 2015 1:20 pm
plc
plc
20 July 2015

Is This Normal Procedure For Settlement

Is This Normal Procedure For Settlement

Yep, 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…

6
607
plc
Jul 21, 2015 12:31 am
travelbug
travelbug
20 July 2015

Paying off debt before home loan application?

Paying off debt before home loan application?

They also look at the limits on your credit cards. Even if you pay them off each month. So if you have one (or a couple) reduce the limit to what you really need.

6
789
travelbug
Jul 20, 2015 5:49 pm
Building4my3tots
Building4my3tots
17 July 2015

Paying off mortgage cheaper than 26 years ago

Paying off mortgage cheaper than 26 years ago

Definitely a Sydney thing! Old fibro houses are fetching over 1 mil in my suburb, It's so crazy! and building industry always catches on, so building cost just raise too!…

5
597
Building4my3tots
Jul 17, 2015 10:06 am
Building4my3tots
becjarrettdalton
becjarrettdalton
7 July 2015

Need To Know If This Is True

Need To Know If This Is True

Ask 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…

11
955
becjarrettdalton
Jul 07, 2015 11:08 pm
becjarrettdalton
plc
plc
26 June 2015

Can I use land as a deposit for a construction loan?

Can I use land as a deposit for a construction loan?

Yes, as others have said, you can use the equity in the land going forward on the construction loan. Note that there will be stamp duty to pay on market value even…

5
1017
plc
Jun 26, 2015 3:54 am
4
747
jas0nt
Jun 17, 2015 10:05 pm
becjarrettdalton
becjarrettdalton
17 June 2015

AFG Home Loans?

AFG Home Loans?

At the end of the day when I am offering some lesser known lenders I say this: You're borrowing from them - so you have their money, not the other way around - if they…

4
674
becjarrettdalton
Jun 17, 2015 2:12 pm
becjarrettdalton
plc
plc
16 June 2015

how much extra to have on top of deposit?

how much extra to have on top of deposit?

As Rebecca said, minimum is 5% for deposit plus approx. 5% for closing costs. The issue will arise if valuation comes back short, then you will have to find more funds…

8
1447
plc
Jun 17, 2015 12:08 am
Roomeat
Roomeat
16 June 2015

Make Sure You READ Your Contract!!

Make Sure You READ Your Contract!!
1, 2

It's all one loan. I don't have separate loans

39
4301
Roomeat
Jun 16, 2015 11:51 pm
Roomeat
becjarrettdalton
becjarrettdalton
16 June 2015

Home Loan question

Home Loan question

NOT giving tax advice, here's a quick blog post I have written which might make sense of the above advice http://homeloancomparison.com.au/offset ... investors/

6
968
becjarrettdalton
Jun 16, 2015 11:18 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
16 June 2015

Between A Rock And A Hard Place

Between A Rock And A Hard Place

Tom'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…

9
1362
becjarrettdalton
Jun 16, 2015 11:12 pm
becjarrettdalton
Gunna
Gunna
15 June 2015

Building A New Home In Providence

Building A New Home In Providence

Mortgage broker? I used Jason Pritchard from Mortgage Choice

1
440
Gunna
Jun 15, 2015 12:04 pm
leighton
leighton
13 June 2015

Valuation lower - what to do?

Valuation lower - what to do?

Quite a lot of builders charge a significant amount for site costs (these are not costs but charges) to make up for what is essentially a low base price. Just the way they…

18
2564
leighton
Jun 13, 2015 6:58 am
leighton
Stuart05
Stuart05
13 June 2015

No Lawyer/Conveyancer for the construction Loan?

No Lawyer/Conveyancer for the construction Loan?

if you aren't comfortable at being able to understand the building contract then it may well be worth having a lawyer look over it (I think you will find a conveyancer…

5
744
Stuart05
Jun 13, 2015 2:17 am
plc
plc
3 June 2015

Loan Qs

Loan Qs

Hi Winderic, Unfortunately you have committed the worst sin for investing. As you mentioned by paying extra into your current property, you have effectively missed out on…

1
574
plc
Jun 03, 2015 3:03 am
plc
plc
28 May 2015

Finance Rate

Finance Rate

Average rate is presently 4.3X% or around there - depending on loan amount and % borrowed, but, there are great offers well under this…

10
1370
plc
May 28, 2015 1:38 pm
Cherie4444
Cherie4444
17 May 2015

finance and insurance issues

finance and insurance issues

I have terminated my builder now I need some advice on where to find builders that are willing to complete a half built house? Also can anyone explain the insurance and…

0
554
Cherie4444
May 17, 2015 10:10 am
Shambini
Shambini
8 May 2015

Understanding the KDR finance process

Understanding the KDR finance process

We also allowed a dollar amount in our contract for selection upgrades. We tried to include as much detailed pricing in the contract as possible. The builder had us do…

19
1842
Shambini
May 08, 2015 7:39 am
Shambini
annielee
annielee
30 April 2015

Applying credit card while waiting for loan

Applying credit card while waiting for loan

thanks for all the reply... the reason i wanted a credit card is to get point for QFF with some purchases that i might be buying before the house/land is ready.. im…

3
1093
annielee
Apr 30, 2015 12:00 pm
becjarrettdalton
becjarrettdalton
17 April 2015

Land valuation confusion

Land valuation confusion

Thats ok - if you have any dramas let us know!

9
1627
becjarrettdalton
Apr 17, 2015 4:20 pm
becjarrettdalton
jb_money
jb_money
15 April 2015

Construction loan confusion

Construction loan confusion

Hi Psyherin: I suggest we look at St. George Bank. The reason is St. George Bank could possibly get a valuation for your before the construction is finished. You…

8
2200
jb_money
Apr 15, 2015 11:23 pm
light487
light487
13 April 2015

Does Everyone go Over Budget??

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…

4
1351
light487
Apr 13, 2015 6:11 pm
light487
plc
plc
10 April 2015

Mortgage Broker

Mortgage Broker

Thanks Bec for the recommendation. Yes, Werribee is in my zone of service, so the OP can contact me if they want. Cheers Tom

2
696
plc
Apr 10, 2015 1:44 am
becjarrettdalton
becjarrettdalton
25 March 2015

Construction loan query - docs for items outside contract

Construction loan query - docs for items outside contract

Its more about the bank being unable to hold a security that doesn't have a kitchen, and being unable to force you to use the money to put a kitchen in. We all know you're…

8
1190
becjarrettdalton
Mar 25, 2015 12:52 pm
becjarrettdalton
sprakk
sprakk
19 March 2015

Increasing Borrowing Power

Increasing Borrowing Power

Very good reads. Extremely informative. Thanks for that Bec. I hope moving from the car loan onto the new personal loan doesn't affect my prospects too much. But I think…

13
1289
sprakk
Mar 19, 2015 11:06 am
questionable
questionable
17 March 2015

Building a new home while also having a mortgage

Building a new home while also having a mortgage

Forgot to add that we have everything sorted with a builder so they're ready to build as soon as we say so. We don't have as high figures as you but pretty much the same…

7
1209
questionable
Mar 17, 2015 1:57 pm
becjarrettdalton
becjarrettdalton
17 March 2015

Rams or Westpac??

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…

1
477
becjarrettdalton
Mar 17, 2015 1:23 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
17 March 2015

Query about land and construction loan

Query about land and construction loan

Hi Mansawant - they do a valuation on the complete package - what the finished house on the land is worth. If you have equity in the land and a large deposit for the build…

1
560
becjarrettdalton
Mar 17, 2015 1:21 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
11 March 2015

Question about home loan and untitled land

Question about home loan and untitled land

your solicitor will want you to have an approval by that date or rescind the contract - or explain the repercussions in regards your deposit of you don't get finance in…

3
915
becjarrettdalton
Mar 11, 2015 10:44 pm
becjarrettdalton
Ponzu
Ponzu
10 March 2015

2nd home loan

2nd home loan

You don't say the value of the current house so no idea on what equity you have in that house. So you have the deposit for the next purchase?…

10
1139
Ponzu
Mar 10, 2015 4:08 pm
travelbug
travelbug
24 February 2015

Better to sell first, rent while building a new house or not

Better to sell first, rent while building a new house or not

The most important thing is to speak to your bank. Some banks don't like lending for a build when they have no collateral (ie the land). You don't want to be buying…

4
884
travelbug
Feb 24, 2015 10:27 am
becjarrettdalton
becjarrettdalton
19 February 2015

Finance decline and getting our deposit back

Finance decline and getting our deposit back

Agree with Tom, and you sound like you could be approaching the sunset clause date - also get a second opinion on the finance, you may have other options. Not all lenders…

2
971
becjarrettdalton
Feb 19, 2015 2:29 pm
becjarrettdalton
ObuRamaraj
ObuRamaraj
17 February 2015

Saving money on your home loan

Saving money on your home loan

Hi First_sale, Both Bec and jb_money are right. If you want to pay off your home loan, you have to pay extra money into your loan. The choice depends on your strategy…

3
926
ObuRamaraj
Feb 17, 2015 10:48 am
ObuRamaraj
Matt1
Matt1
9 February 2015

Reasonable Conveyancer Pricing & Practise?

Reasonable Conveyancer Pricing & Practise?

I paid $990 (each) to sell a house and buy a block of land in the middle of 2013 (in NW Sydney). Around $1000 was fairly common in NW Sydney at the time. I would have no…

1
508
Matt1
Feb 09, 2015 8:26 pm
Matt1
bigdreamer
bigdreamer
5 February 2015

Credit Report - Consumer Credit Enquiries

Credit Report - Consumer Credit Enquiries

Thanks so much for your replies! I only have 2 inquiries for last year (none in the last 6 months) and none for this year so sounds like I should be okay. I wonder why my…

4
814
bigdreamer
Feb 05, 2015 6:19 pm
Leksie5000
Leksie5000
21 January 2015

Getting loan while pregnant

Getting loan while pregnant

Well, my thought on that is it's not impossible she was right, it's also not impossible she was wrong, bank staff are under a lot of…

10
1499
Leksie5000
Jan 21, 2015 12:59 pm
jb_money
jb_money
20 January 2015

What can you include in your construction loan.

What can you include in your construction loan.

Hi Bec, It is important that you provide the bank and valuer all quotes including floor coverings and try and see if you can include the driveway and landscaping into the…

2
926
jb_money
Jan 20, 2015 10:31 am
becjarrettdalton
becjarrettdalton
14 January 2015

CUA construction loan

CUA construction loan

Glad to know you had a great broker and got there - that I LOVE to hear, it's why I love my job! FIFO is tough, you do it for a reason, shouldn't be the reason you aren't apprved.

7
959
becjarrettdalton
Jan 14, 2015 7:40 pm
becjarrettdalton
questionable
questionable
9 January 2015

Help, what would you do??

Help, what would you do??

Wanted to cover all bases! Would love to avoid renting if we could, but do accept it may be the way things have to be..

8
1062
questionable
Jan 09, 2015 1:43 pm
becjarrettdalton
becjarrettdalton
18 December 2014

Bank val for construction loans

Bank val for construction loans

I absolutely understand! There's only one way to find out - get your broker to order a valuation and see what you're working with. There are lenders who will consider up…

3
903
becjarrettdalton
Dec 18, 2014 10:17 am
becjarrettdalton
becjarrettdalton
becjarrettdalton
17 December 2014

Progress Payments

Progress Payments

Yep, exactly, if they're satisfied the work is done - and yes your repayments creep up a little with each progress payment - you should be paying interest only on the plan…

4
1035
becjarrettdalton
Dec 17, 2014 11:01 am
becjarrettdalton
jb_money
jb_money
8 December 2014

Having one Loan for Land and House

Having one Loan for Land and House

Hi There, You can do a land loan first with most lenders with a 5% deposit depending on valuation and then do another one just for the build. In total it can work out to…

3
1420
jb_money
Dec 08, 2014 3:37 pm
6
3545
emski83
Dec 05, 2014 10:03 am
becjarrettdalton
becjarrettdalton
3 December 2014

In a bit of a dilemma...

In a bit of a dilemma...

Oh no, the point is if it's not needed the builder varies it back out - it's a simple fix and often done. Not a cent more is spent than needs to. Happy to explain to…

19
1917
becjarrettdalton
Dec 03, 2014 8:49 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
28 November 2014

Mortgagehouse

Mortgagehouse

Ahhh, how big is the footprint? Get the builder to lay your plans on there so you get the aspect. Need room for a swing set or a trampoline!

5
762
becjarrettdalton
Nov 28, 2014 7:26 pm
becjarrettdalton

Featured Professional

For more information, please visit www.boutiquehomes.com.au.

Melbourne VIC
Contact Us
Related Professionals
Browsing this forum

No registered users and 3 guests

Homeone Australian & New Zealand

Australia's largest home building and renovation
community with over 1.7 million posts

Home
Pros
Forum
Start a new topic
About
Join Community
Advertise
Contact Homeone
All comments made express the views and opinions of the author and not the Administrators, Support nor Homeone Australia & New Zealand
© Homeone Australia & New Zealand All Rights Reserved ‎2001 - 2019
Australia's largest home building and
renovation community
Homeone
About

Terms
Privacy

Follow homeone on FacebookFollow homeone on Twitter
All comments made express the views and opinions of the author and not the Administrators, Support nor Homeone Australia & New Zealand
© Homeone Australia & New Zealand All Rights Reserved ‎2001 - 2019