Browse Forums Home Finance Re: Construction loan 4Sep 28, 2011 2:32 pm Building the Drysdale 30 Wallara Waters, Wallan My Blog : http://www.ourwallanhome.blogspot.com My thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=50975 Re: Construction loan 5Sep 30, 2011 11:26 pm Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: Construction loan 11Sep 13, 2012 5:08 pm wolfpacker 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 construction loan the way to go,wife and i on pension. Hard to say yes or no without more data.... But if your going to be building then yes you will need a construction loan- also being on pension i would triple check with the bank that you can afford the loan and that they are happy to provide you NOT JUST for the land loan which is simple...but also they would approve your construction loan as well.. Regards Michael Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au 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 20085 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 36595 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 12359 |