Browse Forums Home Finance Re: Mortgage - Pre-Approval 2Sep 05, 2007 10:49 pm Wayne www.alphamortgagesolutions.com.au info@alphamortgagesolutions.com.au Contact us for a free consultation for advice on how to structure your loan for maximum benefit Re: Mortgage - Pre-Approval 3Sep 05, 2007 10:50 pm Wayne www.alphamortgagesolutions.com.au info@alphamortgagesolutions.com.au Contact us for a free consultation for advice on how to structure your loan for maximum benefit No Deposit House and Land 8Nov 01, 2008 2:33 am FionaL I'd love to know where you are getting a 100% construction loan from? We used 3 different mortgage brokers and non could find a 100% construction loan. The best we got was 95% with bankwest. 5% deposit with $3500 M insurance included into the loan. We paid stamp duty and legals. All up we would have been $16,000 max out of pocket. Just a clarification on the difference in the experiences noted here. If your developer is offering you pre acouncil approved plans on the land they own, you can apply to lenders as a package upon which they can accept it for 100% (or 97% and LMI capitalisation). However, if you have to settle on the land first and wait for plans to be drawn and approved by council, lenders usually offer you 95% plus LMI as they can't be certain what you'll be doing with the land and when. 1 2989 Hi Minho I have heaps of experience in Ku-ring-gai with both DAs and CDC ( this is the main area we build in). DA's are taking 12-18months and CDC's we have been doing… 1 3162 We've had the offer of a short term tenant whilst waiting for CDC/DA home approval and demolition for our knock down rebuild. It would achieve a pretty low rent as it's… 0 13758 |