Search found 3 matches
- Thu Jul 04, 2019 9:57 pm
- Forum: Home Loan Forum
- Topic: Looking for a 20 acre vacant land loan
- Replies: 5
- Views: 11829
Re: Looking for a 20 acre vacant land loan
As I mentioned in my initial questions, it will be developed into a self-sufficient lifestyle block. I grew up around farms so I plan to run a few heads of cattle, horses etc. Am I looking at paying a higher interest rate because it’s a vacant land loan? Will my application be assessed as a vacant land loan or a hobby farm? Does it matter?
- Thu Jul 04, 2019 7:13 pm
- Forum: Home Loan Forum
- Topic: Looking for a 20 acre vacant land loan
- Replies: 5
- Views: 11829
Re: Looking for a 20 acre vacant land loan
You’ve got great information on the page. I don’t see any other issue apart from the location of the property which is postcode 2580 near Goulburn.
How much will I be able to borrow in this postcode? Your calculator just says medium risk.
How much will I be able to borrow in this postcode? Your calculator just says medium risk.
- Thu Jul 04, 2019 5:58 pm
- Forum: Home Loan Forum
- Topic: Looking for a 20 acre vacant land loan
- Replies: 5
- Views: 11829
Looking for a 20 acre vacant land loan
Hi, my husband and I are looking to purchase a 20-acre vacant land that we want to use as a hobby farm/lifestyle block for five to six years and then build on the property. We applied with a bank but they want to see building permit and plans before approving our loan which we don’t plan on starting for at least 5 years. Our combined income of $120k plus super with no dependents is more than enough to service the loan.
Is there a lender that can approve us?
Is there a lender that can approve us?