Browse Forums Building A New House Re: Home Loan Ignorance - Land & House 4Mar 26, 2009 4:44 pm 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: Home Loan Ignorance - Land & House 5Mar 26, 2009 4:50 pm -------------------------------------------------------- Building in Highlands Craigieburn Status: Building the Laundryless 25.5: Slab Complete Re: Home Loan Ignorance - Land & House 8Mar 26, 2009 5:55 pm Living in Caloundra Thread****** Lovin my house all finished!!! Now tackling the HUGE task of the Garden- viewtopic.php?f=31&t=14782 Re: Home Loan Ignorance - Land & House 9Mar 26, 2009 5:58 pm 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: Home Loan Ignorance - Land & House 12Apr 05, 2009 10:42 am We are with CBA our land settled last year so we have a loan for that of which we are paying intrest and principle. We have now applied for a construction loan of which has been conditionally approved and we will pay intrest only on that one whilst the house gets built. As thlo said you will be paying intrest and it will go up each time there has been a payment made therefore a draw down on your mortgage. The reason we chose to go with 2 loans is the bank wanted to charge us LMI again on the full cost of the land plus the amount for the house as we wouldn't make it under the 80%. They said due to the economy they are not transferring LMI which we have already paid on the land so we are happy running 2 loans! 2nd build here we come in Whittlesea! https://forum.homeone.com.au/viewtopic.php?f=31&t=92617 1st Build - Henley - Cooper in Doreen! (2009) https://forum.homeone.com.au/viewtopic.php?f=31&t=17354 The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19114 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35332 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11933 |