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?
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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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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