House and land package, can I use banks money and make no repayments until sold, any ideas?
I AM A REGISTERED BUILDER - Would like to build a spec home.
- Thread starter megsaletta
- Start date
isn't that just capitalising interest?
Hi Aaron, how would you go about it? Thanks, Jason.
haven't heard of it. i have JV in a company as a registered builder. Why would bank give you no repayments? unless it is land and it hasn't settled.
it's deal specific, Jason. you'd need to speak to either the bank or broker.
Unlikely I would think.
What you could possible do is to use a LOC to fund the repayments of interest on the main loan along the way.
You may have to limit the loan on this to 80% as you will be considered an owner builder.
I assume you have a large deposit and other property with equity?
If you have sufficient security in other property and enough serviceability, then this should be doable
ta
rolf
ta
rolf
