I am thinking of subdividing and building a 2 bedroom unit if I get an approval for a construction loan end of the year.
Some say I need 20% deposit and others say you can have 10% deposit so I am a bit confused. I haven't spoken to any brokers yet as I am still saving for the deposit so I thought I should ask SS members first so I know how much I have to save before approaching a broker.
Could you also use a guarantor for construction loans?
Also my understanding is 200K is approx how much you would need to build a 2 bedroom unit in Victoria?
Many thanks!
Some say I need 20% deposit and others say you can have 10% deposit so I am a bit confused. I haven't spoken to any brokers yet as I am still saving for the deposit so I thought I should ask SS members first so I know how much I have to save before approaching a broker.
Could you also use a guarantor for construction loans?
Also my understanding is 200K is approx how much you would need to build a 2 bedroom unit in Victoria?
Many thanks!
construction loan
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