If not how is it used?
From what my bank told me, it can’t be used as a deposit.
My friend said it goes toward reducing your overall mortgage.
Browse Forums General Discussion Re: Government $40-50k stimulus rebate on new builds 101Jun 13, 2020 12:36 am Morris45 Can this 55k grant be used as a Deposit? If not how is it used? From what my bank told me, it can’t be used as a deposit. My friend said it goes toward reducing your overall mortgage. Re: Government $40-50k stimulus rebate on new builds 103Jun 13, 2020 3:46 am Bobjane Morris45 Can this 55k grant be used as a Deposit? If not how is it used? From what my bank told me, it can’t be used as a deposit. My friend said it goes toward reducing your overall mortgage. So let’s say your mortgage is 530k So then it is reduced by 55k which then brings your repayment to 475 By the way WA has 20k as well. Re: Government $40-50k stimulus rebate on new builds 104Jun 13, 2020 5:23 am Morris45 Bobjane Morris45 Can this 55k grant be used as a Deposit? If not how is it used? From what my bank told me, it can’t be used as a deposit. My friend said it goes toward reducing your overall mortgage. So let’s say your mortgage is 530k So then it is reduced by 55k which then brings your repayment to 475 By the way WA has 20k as well. Yeah. During constriction there’s progress payments and the bank will use the grants to fund the first stage cause that’s when they get paid, then use your original deposit to fund furthers stages and finally the bank will use their own money (amount you’re borrowing) to fund the final payments. So at the end of the day you end up borrowing less from the bank. Re: Government $40-50k stimulus rebate on new builds 108Jul 11, 2020 8:29 am KodaCujo Morris45 Can you still get the grant if you’re married and one is a cu Citizen and the other a Permanent resident? Surely you would if it's under the citizens name 😊 But can both of us be on the house application? I don’t understand. My broker said you can’t. Re: Government $40-50k stimulus rebate on new builds 109Jul 12, 2020 12:17 am Morris45 KodaCujo Morris45 Can you still get the grant if you’re married and one is a cu Citizen and the other a Permanent resident? Surely you would if it's under the citizens name 😊 But can both of us be on the house application? I don’t understand. My broker said you can’t. If you read the two PDF documents on the grant on the Treasury website, if both people are listed as owners then both need to be Australian citizens. Hi, We are looking for a builder that can build a small home (smaller length) on a sloping site. We came across Mojo's Zephyr design 10.6 m wide and 11.5 m length. Does… 0 23017 A person needs to be licensed to offer financial advice. Surely the accountant you use would have been chosen for his/her expertise in this field. Have you asked your… 1 6734 |