Browse Forums Building A New House Re: First Home Buyers 8Aug 21, 2014 9:22 am Home Solution by Metricon - Luna 28 http://hayleyandjonshouse.blogspot.com.au/ viewtopic.php?f=31&t=73643 Re: First Home Buyers 10Aug 22, 2014 8:52 pm Pink86 Thanks pennykate, so after meeting with our bank we had the green light to start looking at land & building then I get a call to say sorry you still need to save another $12,000 to make 5% apparently the mortgage insurer requires 90% not 95% like an established home. Now we are back to square one. Haychhh that is a great option but the don't have packages in our area. We are looking to build more around bonnells bay area rather than central coast, a bit closer to the family. But now we just have to keep saving!!! Can I suggest you talk to a mortgage broker? I have an awesome mortgage broker who would be able to help you out. I am in a similar situation building on the central coast and we are only paying 5% for the whole build. Pm if you like and I can give you more information such as pricing etc. Deposit paid 09/02/14 Plans received 26/04/14 Land registered 01/08/2014 Settled on land 18/08/2014 Plans to council 20/08/2014 http://verdelhofourtwist.blogspot.com.au/ Re: First Home Buyers 11Aug 22, 2014 9:06 pm kays_first_home Pink86 I am in a similar situation building on the central coast and we are only paying 5% for the whole build. Pm if you like and I can give you more information such as pricing etc. A broker may be the answer. It may also not be. Banks will ofen require a higher deposit from those it considers riskier. Pinks situation maybe different to yours. Broker is a good next step, but don't get over excited just yet. Creator of superduperonium, expert at expert things, nobel laureate, can hold my breath for 10 minutes. demolisher 12Aug 22, 2014 9:54 pm Hi all I need to find a good and cheap demolisher as we will be doing a Knock Down rebuild. any recommendations would be really appreciated KDR. Overture Premier 09/14 $3900 10/14 Plans 11/14 Contracts 03/15 Demo 04/15 Validation 05/15 Slab 06/15 Frame 06/15 Bricks 09/15 lock up 16/12/15 Keys Re: First Home Buyers 14Aug 23, 2014 7:57 am Thats strange I wonder if its different in different states. Im in qld and we were initially told that u couldnt use it so we were borrowing the money off my mum until we did the application n it said that we were contributing the grant as well so we just did our savings plus the grant. Ur talking about the great start grant of 15k rather than the first home owners grant right? What lender r u looking at going thru? Have u spoken directly with a mortgage lender rather than a broker? Our first home: viewtopic.php?f=31&t=72839 Re: First Home Buyers 15Aug 23, 2014 8:16 am Great start grant isn't available in NSW as far as I am aware only the first home buyers grant. Yes we have spoken with our Mortgage lender at our bank who gave us the green light & went to go pre approval untill she realised we can't use FHOG as deposit towards construction. But the builders loan australia website say that you don't need any savings & FHOG can be used with certain lenders? Re: First Home Buyers 16Aug 23, 2014 9:05 am Pink86 Great start grant isn't available in NSW as far as I am aware only the first home buyers grant. Yes we have spoken with our Mortgage lender at our bank who gave us the green light & went to go pre approval untill she realised we can't use FHOG as deposit towards construction. But the builders loan australia website say that you don't need any savings & FHOG can be used with certain lenders? Some BUILDERS will accept fhog as part of THEIR deposit. Not lenders. You need to find a builder that has factored fhog into its sales pitch. You know the ones , "build a home now for only 2k deposit!". Then use that builders brokers to get the loan through whattever lender looks good. The broker has the relationship and arranged finance fo4 many customers in the same boat. If you just go to any random broker then they will tell you what the banks tell you. Good luck. Creator of superduperonium, expert at expert things, nobel laureate, can hold my breath for 10 minutes. Re: First Home Buyers 17Aug 23, 2014 9:34 am Hmm not sure sorry must be different in qld. I guess if numerous people are saying u cant use it, must be the case. Have u got anyone that can do what my mum was going to do and lend it to u? We had planned to pay it straight back to her when we got the grant paid. Or not ideal but get a loan for it and then pay it off when u get the grant? Might cost a bit in interest but will get u into ur own home sooner and save u on rent! Our first home: viewtopic.php?f=31&t=72839 Re: First Home Buyers 18Aug 23, 2014 9:55 am Thanks everyone. We have been in contact with new home group which overall can offer a house & land package for approx $470,000. We might need to look at asking family to lend us I didn't think of the personal loan. Thanks I will look into this. I really appreciate everyones suggestions. Soak wells and electrical run in happening this week! Summit has told me they will relocate the laundry plumbing after the walls are completed. I'm actually pretty happy… 13 36926 Cant give recommendations in general with that builder, but during the colour selection, this is honestly personal preference. Depends on the style you want. Do you want… 1 656 We already paid for somfy motors for the blinds. The quote above was purely for “pre-wiring” so the blinds company can install the motors and blinds. That’s why we… 5 18412 |