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  • Profile photo of Mark AdamMark Adam
    Member
    @mark-adam
    Join Date: 2007
    Post Count: 3
    March 21, 2007 - 8:57 pm

    I am looking for finance in a few months hopefully! I am working as an estimator for a building company and with a bit of luck will be getting my builders license soon.

    I have a 130 000 loan with around 200 000 equity how much do you think I could lend, to build with?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    March 22, 2007 - 11:42 am

    Its hard to say.

    You could for example pay 20% deposit on some land, borrow 80% and then get DA approvals etc for a project. Then you could borrow 100% of the rest if it all stacks up.

    So if you had available equity of $160,000 you could buy some land of up to $640,000 approx.

    Terryw
    Discover Home Loans
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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