Browse Forums Home Finance 1 Nov 06, 2009 9:19 pm Can anyone tell me when you have a low doc construction and i have signed the approval bank contract if there is any money left at the end of construction of the house does the bank takes this back?? My broker is telling me they do?? but i thought once you have been approved for the loan its yours and whateva is left over you get??? Re: low doc construction loan 2Nov 10, 2009 10:04 am It seems like it would be against the bank's interests to take it back. They want your loan to be as large as possible with you still being able to make the repayments, in order to maximize profit. Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover Re: low doc construction loan 3Nov 11, 2009 6:54 pm we had a low doc construction loan the left over money from the loan was depositing into our bank account after handover of the house.that was with the bank of alediable finished building 40 square home on 5 acres with perry homes.working on the landscaping just finished pool deck with ://forum.homeone.com.au/viewtopic.php?f=31&t=2217 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 19097 4 6201 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 17530 |