All Topics / Help Needed! / first home owner/builder

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  • Profile photo of alliwantalliwant
    Join Date: 2003
    Post Count: 4

    [8)] With property prices rocketing in Brisbane as everywhere else, a very basic 2 bed home is $250,000+, units $180000+. This makes it impossible for a first time single homeowner ever to pay that kind of morgage, even if a bank approved a loan. I’m looking for an organisation that helps people get into houses, ie project building with work share, anything! I’m also looking at kit homes if I can find a cheap block within 50k of Brisbane. Currently have $15000 deposit and may be able to get the homeowners grant. I can’t get a homeloan for more than $130000.

    Any help, please!!!

    Profile photo of Mortgage HunterMortgage Hunter
    Join Date: 2003
    Post Count: 3,781

    Are you positive you can only borrow that much?

    Have you been told that by a bank or by a broker?

    Reason I ask is that some banks serviceability models are very strict allowing people to have limited borrowings. Others are much more generous.
    The difference between two banks (extreme ends of the scale) can be enormous – nearly double! A broker will check accross the board whereas a bank is limited to only their products.

    Post your details or email them to me and we can work out what your maximum really is accross the lenders.

    I am not aware of any organisations such as you describe. One idea is to look further afield from Brisbane. Just be thankful you don’t live in Sydney[:D]


    Simon Macks
    Mortgage Broker
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of ryanmelryanmel
    Join Date: 2003
    Post Count: 30

    or you could speak to some ppl on this forum about a vendor financed purchase?!?!?!?

    you have a deposit, you want somewhere to live. you could be looking in the right place!

Viewing 3 posts - 1 through 3 (of 3 total)

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