Browse Forums Home Finance 1 Jul 20, 2009 4:28 pm Hi I am a self-employed person in business for about a year. I am looking to get my first home finally (renting for 2 years!). I have 26k saved and am looking for a cheap properly (in South Australia). The First home owners grant in South Australia is 14k. Assuming I ever find a lender that lets me combine the FHOG with my 26 deposit, it will allow me to borrow up to $200,000 for a property. Good enough for me... Two problems: 1. I have been in business for only 1 year and most lenders want 2 years worth of business activity to get a loc doc loan. (I've given up trying to get a "normal" 10% loan) 2. Due to the massive 20% low-doc loan deposit requirement - I want to combine my 26k WITH the SA first home owners grant of 14k. Does ANYONE know a lender that bypasses/solves these two problems or know of another way to get a loan? I have been renting for 2 years and want to escape the rental trap finally. You can get a ** house in SA for $200,000 (don't want a unit/other) Thank you for your help! Re: Low Doc 20% deposit using First Home owners Grant ? 4Jul 22, 2009 12:19 am Talked to plenty of brokers, same thing with many, can't help me. Stamp duty, we'll I'll either have to get a gift from a family member or buyer a cheaper house... nonetheless I still need to get a loan of some kind! Re: Low Doc 20% deposit using First Home owners Grant ? 5Jul 22, 2009 2:08 am Was any of the work you did before you started your own business done as sub-contractor? As elastic said, you also need to have funds for stamp duty as well as 20% deposit. I'll send you PM. 4 6168 If you can calculate the reasonable charged head from let's say 100mm below the gutter to the top of where the vertical riser's horizontal discharge pipe will be, that… 11 17513 Those span tables can be pushed a little for a low deck if you dont mind a little flex. Last deck I did, I pushed it a little and it was still rock solid - no noticeable… 6 13704 |