How much can I borrow if I am an owner builder |
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| FAQ - OWNER BUILDER SYSTEM |
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Mortgage lenders usually feel uneasy lending to owner builders, as it does not give them the comfort of a completed house. However, with the knowledge that HBS will supervise the completion of construction in the event of default and repossession of the home, the mortgage lender will now effectively grant owner builder finance of up to 80% of the total market value of the completed house, instead of the usual 50% of hard costs that most lenders would insist on. We strongly advise that you speak with a mortgage broker at Intellichoice first by calling 1300 55 10 45, as your borrowing power will depend on your current circumstances. |
| Last Updated ( Monday, 12 April 2010 14:17 ) |
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