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  1. #31
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    Does anyone know if you can take out a loan for stamp duty with the home loan?

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    Quote Originally Posted by clucky14 View Post
    Does anyone know if you can take out a loan for stamp duty with the home loan?
    Yes we have always borrowed to cover stamp duty

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    In qld, if you are a first home buyer, and you are going to use your home as your main residence, you don't have to pay stamp duty. I don't know about other states.

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    Quote Originally Posted by clucky14 View Post
    Does anyone know if you can take out a loan for stamp duty with the home loan?
    We borrow 95% + lenders mortgage insurance. Might seem like a lot butnits better thab renting..
    We went through a mortgage broker. And ended uo getting our home loan through ing direct. Very cheap!

    Sent from my GT-N7105T using The Bub Hub mobile app

  5. #35
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    Quote Originally Posted by mommyindec View Post
    In qld, if you are a first home buyer, and you are going to use your home as your main residence, you don't have to pay stamp duty. I don't know about other states.
    Holy crap we should have moved to QLD!!! We recently purchased our second home for $480K and the stamp duty was almost $20k!!!! And it's our primary residence I'm in NSW

  6. #36
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    LifeInShadesOfGrey is offline Just a little bit silly :)
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    We used a broker. DH has had a very colourful financial history and banks weren't as flexible as a broker.
    We didn't/haven't saved anything but were "gifted" 20% of the purchase price.
    We are currently looking and actually feeling really disillusioned in our area. We are thinking of continuing renting and buying an investment property.

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    Oh that's great to here !
    Quote Originally Posted by Joeee View Post
    Yes we have always borrowed to cover stamp duty

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    Buying our first home 7 years ago I found really exciting till I saw how little our budget would afford!! Although I'm thankful we did it now my best advice...
    Use a broker and compare to direct bank offers
    Find an area you love, a house that's tolerable - you can always improve later
    Paying off as much as you can in the first 5 yrs is a really effective investment strategy as your primary property is not a taxable investment

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    We just purchused our first home. We had 45k deposit and didnt use the fhog up front (applied after). Our lovely lender didnt explain the difference of xyz of paying a bit more deposit to avoid lmi!! When we had the money!!!!!

    Our mortgage is $187,000. $220 a week. I recommend seeing various places as pp said goto your bank if you have been with them for years too

    We have a run down house had to spend about 10k on it but now its livable and lovely!

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