G'day all.
I was wondering if anyone could comment on our application.
We are going through a broker who said he was confident our we would be successful with our application for $450k construction loan.
Suncorp - gift as part of deposit taking into account 24 months of rental Hx at $290 per week. (See attach for details)
Combined salary $140k
Deposit. $17.5k savings history 5 months
$8k as gift (not in our account, a signed Suncorp gift declaration form is being used)
Min deposit required 22.5k ( 5%)
11k credit cards limit.
Broker discussed with his suncorp contact and said we should make offer secure land. Bank did not give official pre approval.
We secured land at 155k 28 days subject to finance, soil, wind blah blah.
Waiting on house quote around 250k.
Have a look at these Suncorp docs and our situation and see if think we get approved.
Thanks a lot!
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