IOIA or normal principal/interest loan?

what type of loan for block of land to be ppor?

  • interest only in advance loan?

    Votes: 1 14.3%
  • fixed rate loan

    Votes: 0 0.0%
  • variable rate loan

    Votes: 7 100.0%
  • split variable and fixed loan?

    Votes: 0 0.0%

  • Total voters
IOIA or normal loan?

im currently looking to buy a block of land and build on it within 6 months of owning it as my primary place of residence and am not sure what loan to go for im looking to pay approx 400 a fortnight while saving a deposit for the building, any ideas, thanks in advance,
im looking at getting a loan and not sure whether to got Interest in advance and pay over the minimum or just normal principal interest loan? it is for a block of land ($118000 loan) that i will build on as my ppor, want to pay 400 fortnightly or a little more while saving a decent deposit for building, any ideas or experience anyone can tell me would be greatly appreciated, thanks people,