time to buy, page-28

Kincella,


Because he is self employed the westpac bank suggested a low doc home loan. They don't require 2 years financials, they only want to see the last 4 quarters bass statements from the business. They also said that they would take the $26,500 government grant as part of the 20% deposit. They told us what wage figure to put in the application so as to qualify for the loan.
He is looking at a loan of $260,000 on a house and land package of approx.$320,000 (not $370,000, I made a mistake)

We live in Gippsland.

In the mean time, he just applied online for a pre approval from state custodian home loans and got an indicative pre approval on only a 10% deposit with a low doc home loan.

Cheers


flinders