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  • Profile photo of freedomfinderfreedomfinder
    Member
    @freedomfinder
    Join Date: 2004
    Post Count: 63
    February 19, 2004 - 6:28 am

    hello finance doods
    Q1. can a lodoc loan fund 90% house and land package to be built eg. purchase land and progress draws on building. if yes what will be the mortgage insurance payable per H & L package of around 235k, where we fund 10% 23.5k + costs and borrow 211.5k being 90%.
    Q2. if not 90% what would the highest LVR for above projects be granted. with and without mortgage insurance.
    Q3. can information be shared as to lenders, fees, costs and rates for lodoc.
    A. if you were to ask were the answer is 4510

    if you need further info ill be happy to share

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    February 19, 2004 - 6:39 am

    Highest LODOC is 80% if you want to avoid LMI then around 75%.

    Cheers,

    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 freedomfinderfreedomfinder
    Member
    @freedomfinder
    Join Date: 2004
    Post Count: 63
    February 19, 2004 - 6:56 am

    could you tell me in your opinion which would be the best way of funding. 75% or 80% with howmuch LMI payable. best interest rates and no or cheap early repayment on or near completion.
    thanks

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