kit homes vs pre fab vs builder built homes

[scarps]

Was I picking?? I thought I was just stating a fact , like he did in saying its a camper forum?

 

you picking on my newmate oldmate?

Renee's going to show me her's tomorrow. Apparently cleaning it and everything just for me to look at:-)

[Nay-DMAX]

Was I picking?? I thought I was just stating a fact , like he did in saying its a camper forum?

 

 

[oldmate]

you picking on my newmate oldmate?

Renee's going to show me her's tomorrow. Apparently cleaning it and everything just for me to look at:-)

So you going to be one of them too? Great!  Why take a step back from the jeep? 

It's not going to be one of those show me yours, I'll show you mine, type of thing I hope. Lol.

Anyway off topic this thread is about building houses not campers or dmax's. 

[scarps]

Or Jeeps.

[BLKWDW]

Well seems like i may have jumped the gun. Despite getting the pre approval from the bank for the land, having out house and the land evaluated by the bank, signing the contracts, then going to the bank to sign there paperwork upon arrival we were told there knocking back the loan now as its to big being 12ha. There limit is 11ha. Was devastated as i believed we had the property and wernt given any indication otherwise. Wish they told us upfront instead of going through the processes for 4 weeks and nothing being said till the end.

[lino6]

Well seems like i may have jumped the gun. Despite getting the pre approval from the bank for the land, having out house and the land evaluated by the bank, signing the contracts, then going to the bank to sign there paperwork upon arrival we were told there knocking back the loan now as its to big being 12ha. There limit is 11ha. Was devastated as i believed we had the property and wernt given any indication otherwise. Wish they told us upfront instead of going through the processes for 4 weeks and nothing being said till the end.

That sux a lot, sorry to hear that. What's the plan now, try another bank?

[BLKWDW]

Tried other banks and no one will lend me the money. If its 11ha no probs but its to small then for what we want to do on it so pretty much have to give up on the idea

[Nay-DMAX]

Tried other banks and no one will lend me the money. If its 11ha no probs but its to small then for what we want to do on it so pretty much have to give up on the idea

I guess is it too small to go through rural bank? Where was it located?

[BLKWDW]

Its located in woodstock 40km out of cowra in nsw. im more pissed as it was our perfect block. had everything we wanted in land and perfect location. Bank went on with it for 4 weeks and surely would have known it wasnt gona happen before then.

It was with the comm bank. I've rang the other big banks and no go and few local ones as well but same result.

[Bird]

there knocking back the loan now as its to big being 12ha. There limit is 11ha.

am I the only one who thinks the bank made this excuse up on the spot???

[BLKWDW]

they say its not them its there insurer. regardless they would have known at the start. where else to go i have no idea. if the land cost 100k and not 75k and was 11ha it wouldnt b a problem even though its more risk. doesnt make sense

[ATC]

they say its not them its there insurer. regardless they would have known at the start. where else to go i have no idea. if the land cost 100k and not 75k and was 11ha it wouldnt b a problem even though its more risk. doesnt make sense

When trying to understand banking just focus on your last 3 words "doesn't make sense"

When taking out a loan they just seem to make stuff up as you walk in the door.

Have you tried telling them that you plan on subdividing it, into 2 parcels?
11 ha, & 1 ha.

Then they might offer commercial finance.

[BLKWDW]

How would or does that work?

[Raym]

If you get back on track have you considered strawbale?

[Nomad]

How would or does that work?

It would be worse because they'll only give you a 60% lvr on the loan and expect you to cover council and subdivision costs.

Can you talk to a different lender in a different branch of the CBA. Mortgage Insurers don't tend to split hairs on these types of things and theres a couple they can pick from.

I have never heard of a 12 hectare rule before. More recently they have just been ruling out postcodes they will lend in, maybe thats the reason.

Talk to a good mortgage broker, they may have other lenders you haven't thought about that are more flexible with the loan, such as your superannuation supplier.

There is a lot of different ways of filling out a mortgage application and sometimes the way you or I might do it is not the same way a broker would recommend and the difference can be a loan or no loan. Give one ago.

Regards

[Dogsbreakfast]

Yep talk to a broker.

[BLKWDW]

We used a mortgage broker, mortgage choice. She believes mo one else will lend to us and commbank was our shot.i was always asking alot of the loan as we were borrowing 100% and using thr equity in our house for security. They say we now need the 20% deposit we were originally told we wouldnt.

I have rang our local commbank and slso there normal hotline number with no lick. They say there hands are tied. I also rang westpac, st george, nab, centralwrst credit union and luck. Waiting for a callback from anz and bankwesy today but expect the same result. Also a member of here who works at a bank is going to see what they can do.

Hav also thought bout asking the realo bout vendor fibancing but dont know much about it

[peanut2]

Here's a tip.  We bought a farm years ago and got the loan through our bank.  The Bank Manager said that we needed to get the loan for investing purposes only.  eg Shares.  He said do not tell him we need the loan for a farm as that is out of their scope.  After I have the loan approved, I can use the money for investing purposes and if that just happens to be for a farm, there is nothing the bank can do about it.  (Guess what - we still use the same Bank Manager today).

Peanut

[Nomad]

Did they tell you what the valuation came in at on your own home as against what you owe on it?

 

[briann532]

Just checked with ING bank who we use and its not a problem.
They check liability and ability to service repayments.
Its just number to them.

Call them. I did 12 years ago and it was the best thing I ever did...........

Cheers and good luck,
Brian

[BLKWDW]

Did they tell you what the valuation came in at on your own home as against what you owe on it?

 

Yep the house was valued at 170k and we owe 145k. Not much there i know but i didnt expect to be given a yes we can in the first place.

Just checked with ING bank who we use and its not a problem.
They check liability and ability to service repayments.
Its just number to them.

Call them. I did 12 years ago and it was the best thing I ever did...........

Cheers and good luck,
Brian

I rang them this arvo and they wont loan over 2ha the lady told me.

Here's a tip.  We bought a farm years ago and got the loan through our bank.  The Bank Manager said that we needed to get the loan for investing purposes only.  eg Shares.  He said do not tell him we need the loan for a farm as that is out of their scope.  After I have the loan approved, I can use the money for investing purposes and if that just happens to be for a farm, there is nothing the bank can do about it.  (Guess what - we still use the same Bank Manager today).

Peanut

How does that work dont they want you to show them wont ur spending it on for security purposes?

[briann532]

I rang them this arvo and they wont loan over 2ha the lady told me.

Sorry mate.
I am a bit surprised though, I had no trouble getting a loan for 20 hectares. Only problem I had was I faxed the paperwork and they wanted to sight an original signature.

Keep trying, it sounds worth it.

Brian

[oldmate]

Sorry mate.
I am a bit surprised though, I had no trouble getting a loan for 20 hectares. Only problem I had was I faxed the paperwork and they wanted to sight an original signature.

Keep trying, it sounds worth it.

Brian

I reckon it all comes down to the person you happen to get on a particular day with this sort of stuff sometimes

[BLKWDW]

Sorry mate.
I am a bit surprised though, I had no trouble getting a loan for 20 hectares. Only problem I had was I faxed the paperwork and they wanted to sight an original signature.

Keep trying, it sounds worth it.

Brian

Problem was i think its a residential zoning were as u bought a farm.  Ive hav rang heaps of places to no avail and pretty much think thats how its hona end. Bsnkwest would do it with a 10% deposit and although i could get the money together for that i still couldnt afford the other fees like stamp duty, legal fees eyc

[speewa158]

Dmax owners great people and generally well informed. First place I go to ask for info and advice:-)


  Arrrr So why did you not ask about " Buying a Jeep "