Hi i am going to apply for a construction loan with homestart,we are borrowing $120,000 after we have put a dep of $30,000 down,is a…
Sep 13, 2012 5:08 pm
Builder Needing Proof of Finances
Seems like different people have had different experiences - thanks for your input guys. Was just wondering what everyone else had to do...
First house - mortgage questions
tompab, as mentioned by travelbug, if getting a variable rate, look at getting an offset account linked to your home loan instead of relying on redraw. An offset account…
Land Price Negotiations
It doesn't hurt to ask, and see what they say.
As for demand, one way of telling is how long they have been on the market. If they're newly released, might be worthwhile…
We did your Option 2 (sorta) .... bridging finance to buy the land, sell our current house, rent between the sale and the completion of the build, then move in to the new…
Aug 23, 2012 10:33 am
Aug 19, 2012 2:19 pm
Paying 5% Deposit on land
Just be careful to make sure the bank has acknowledged funds paid to the builder so they can adjust the net amount available for your loan settlement. For example if you…
interest only loan
We have interest only as well and have so far managed to keep an offset account going. I transfer money in and out as need be - figuring even if its only in there a few…
Aug 07, 2012 10:57 pm
This is a pretty broad question but I'll attempt an answer, it also depends on your supplier and location too.
We are a couple, going to be living in a 32sq home with…
Question about block/house loans?
Ill try to answer your questions without writing a whole essay ....i'll try
1. The 2 loans are separate
2. You first get your land loan- and what ever deposit…
Jul 05, 2012 9:44 pm
Current loan question
Westpac is the most expensive lender for most people even with their standard package discount of 0.70%
At the moment you should be aiming to…
First home buyers question
If you're in Victoria, as bubblynutter says, you pay stamp duty on the land only. You will also get a reduction on the stamp duty if the house you…
Mortgage for house & renovation
Are you using any other property as security? Some lenders will lend you up to 95% of the purchase price plus the renovations. If you have equity in other property then…
Porter Davis and Choice home loan
I love PD designs but hate the process of all this. I will refuse to get choice to assess my situation when the time comes. We have a letter from…
When FHOG will be paid to us?
Ok, I have the answer from the horse's mouth! AKA the SRO!
It depends how you applied for it, if it was direct to the SRO they will not consider your application until…
May 24, 2012 11:28 pm
First progress payment to builder
My first Home owners grant and bonus been approved by SRO. First Progress payment paid to builder by bank yesterday, but i didn't got my first Home owners grant…
First home buyers with low deposit
You can find Low Deposit Home Loans really very helpful.A traditional home loan with competitive interest rates to suit first home buyers and owner occupiers Standard…
what bank to go with
i thought there would be a catch, im just trying to find a bank with no fine prints lol
Stamp duty discount
When I was conveyancing the FHB discount didn't exist, but we would only do the PPR concession (and FHOG) forms if there was no mortgagee involved, otherwise the bank would do it.
Vendor Finance - What to be aware of
First things do you realise you wont be able to get a normal house loan? Land that sizes means you need to look into commercial / rural lending.…
First Home Buyer Here - and Confused!!
Thanks Bashworth, any help is much appreciated =) I keep getting conflicting advice on all my questions so I guess I'm just going to have to keep asking LOTS of questions…
vendor finance between famliy
If its a properly documented vendor finance arrangement and your parents are providing 'credit' then your parents will need to be licenced under the National Consumer…
Apr 18, 2012 12:10 pm
we had a s27 when we sold our house as we wanted some money to purchase land to build. The purchaser made us wait all 30 days (i think it was 30, its a while ago now!). …
Upgrades done at pre-start and bank loan
We havent had an invoice as yet, so probably will happen soon I guess as I think they will be starting site scrap in the next couple of weeks, just waiting to…
Self-employed and home loan
Thank you, Silvergum! Maybe we'll start talking to some brokers to see where we stand. How much I earn isn't too important, I'm well over the required amount we need…
possible to get constrution loan?
Your best to use the cash to push down the LVR - ie cost of construction is $300,000 - apply for a 70% LVR on the build using your cash...so in total the land and build…
Apr 03, 2012 2:36 pm
Confused about allowances and bank loans
That doesn't seem right, CBA is happy to accept valuation value and payment based on "future" improvement / value adding -- thats the whole point of constructions…
Apr 03, 2012 1:26 am
Final bank construction payment
With my bank, the loan for the construction is ready and waiting along with the provision of floorboards and carpets, paving and A/C. Once the house is built they…
Finance for a high risk
Glad to hear that your finance has come through. I am up in the Barossa as well, which town is your new purchase in?
Look forward to following your renovation posts when…
Are you self employed or have rental properties? What deductions are they working…