time to buy, page-17

there are a few questions....
has he got the 2 years min financials, and do they show a good income, sufficient to repay the loan after tax..

does he have a spouse, working to contribute to the loan

**will the bank lend on low doc loan

seems a big ask to me...with only $12000 saved against $370,ooo

then where is the property

what is your sons business ?

he could take a punt, that there will be another FHB incentive within a year...
if he is a hands on person...
he might also look around for a cheaper property, to get started in..then do a reno

the grants as I recall are now being geared to new houses only
for eg, nsw will double the grant to $15,000 from Oct 1st

the builder may drop his price, by $20,000...but that does not help your son, needing a 10% deposit...
maybe your son needs to save for another year...