Hi
Aim confused about fhog and mortgage. My build including land is 270k and the bank will lend me 243k pls mortgage insurance. I settle on the land on Friday with site start due in two weeks. So far I have paid $16,400k including conveyances fees , build deposit and land settlement. I have been told will have to have another 9k at least available in my bank at slab stage .my question is that then takes me too paying $26500 from my own funds which is ten percent lvr. What happens to the 10k grant ?
Thanks