Build Journey | First Home Buyer
Discover Arden Pays
05-07-2023
So, you’re thinking of building a new home? This will be one of the most exciting and memorable projects you embark on! However, with such a large project there are bound to be some challenges that arise along the way. That’s where Arden steps in. We are here to help reduce these and ensure your process is enjoyable and as seamless as possible.
From years of experience building homes, we have identified a couple of key challenges in the construction phase of a home build, that we want to eliminate. They often revolve around timing and finance. For example, timing move in day with your current living situation whether that’s a rental, living with family etc. and juggling rent/mortgage payments with your new construction loan repayments. Luckily for you, Arden have come up with a solution so you can relax and enjoy the building process. Say hello to Arden Pays!
Arden Pays is a flexible home loan where Arden will pay the interest on the house component of your loan (excludes land), while we build your home (up to $12,000*). Yes, that means you will not pay interest (up to $12,000*) on the house component of your loan while we are onsite building your home*! This means one less outgoing payment to worry about while you’re not actually living in your home, putting you ahead of your finances before you move in!
There are many positives to the Arden Pays home loan option. The main being reducing the number of expenses you have while your Arden home is still in construction. No more thinking about loan payments, instead you can plan your new life and even get ahead and start paying down your loan.
Additional benefits include:
There is no limit of borrowing amount with Arden Pays. So, whether you’re building cost is $200,000 or even $800,000 you can qualify for Arden Pays with MyChoice Home Loans.
MyChoice Home Loans is an independent Australian owned and operated mortgage broker that is jointly owned by NEX Building Group (parent company of Arden Homes) and Mortgageport Management. MyChoice Home Loans specialize in construction home loans, providing support and guidance for customers seeking to build or purchase their new home or investment property.
All government grants are accessible with Arden Pays. If you meet the criteria for any of the Victorian Government grants, you can also qualify for Arden Pays with MyChoice Home Loans.
If you are a First Home Buyer and meet the Government criteria for Stamp Duty concessions, you won’t pay any transfer duty if your land is valued at less than $250,000.
For land valued between $250,000 and $400,000 you’ll receive a concessional rate.
If you are not a first home buyer, you will be required to pay stamp duty towards your land purchase. To confirm, contact our MyChoice team to review your situation (Consultant details provided below).
That’s ok, our MyChoice team will review your current land loan and whether you can take advantage of Arden Pays. Not all lenders will allow us to pay your interest during construction, however our MyChoice team will review your situation and discuss what the best loan options are available to you, including Arden Pays!
To find out more information click here.
*See terms and conditionslients