Hey everybody,
Just found this amazing forum so i thought i would join.
My Partner and I are looking to apply for a home loan (To build) in August- September of this year.
We have only started to save mid Oct and too date have saved approx $6000, by August we are planning to have $17,000.
We currently earn over 80k combined.
We currently have a loan of 20k, which will of course be lower by August.
A Credit card will a $3,000 limit which has no money owing to it.
We are looking to build due to the state Gov "Tasmania" increasing the first home building grant from $7,000 to $15,000.
The Land we are looking at is $65,000 fully serviced.
And the home design we are looking at "bd, Garage, 117m2" is $122,675 fully inclusive.
So with the grant we would be looking to borrow around the 200k mark.
We have done a pre sitting with a broker and they gave us a limit of 330k approval by there calculater.
But i thought i'd see how people in the real world have found it and how they think we would go?
Regards
Aiden