person img
verified icon broker img

Lou

2 weeks ago

Hey Pewan, If you have savings to pay down the loan, I would assume you could use that as your construction deposit(??). Either way, the loan of $350k + Constr $340k = total loan of $690k. Land value of $460k + Constr $340k = total end value of $800k. This works out to an LVR 86.25% and certainly viable (providing you can pass servicing for the $690k loan). LMI would apply but you can increase the loan to cover that cost . I hope this helps.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel

New home loans from 2.99%

Find out more