Hi all I'm 25, married and my wife and I are expecting our first child in January 2011. We're really keen to get our first place, and are willing to start off small and simple, say an old 2 bedroom house around 10-12km's from the Brisbane CBD. We are both on similar incomes of approx. $56,000 before tax, each. The catch is this, my wife wants to take 12 months off work (she is a teacher (not permanent but on a contract)) and I'd like to know if a bank would lend us enough money to cover the cost of our proposed purchase, we will only have a 5-10% deposit (not including the FHOG which we assume will just be consumed by est. costs etc.) on the basis of her being employed presently, and then giving us some flexibility during that 12 month period that my wife is off work and hence whilst on one income. And then repayments returning to normal (or even increased to catch up if required) once shew returns to work the following year. I am pretty much one step from speaking with a bank or mortgage broker on this issue, but just thought I would get some advice from others before heading in. I know there are lots of products out there that offer some flexibility for these types of situations but just wanting a bit more information if anyone can help? Otherwise I guess we just need to wait until she returns to work and then go for the loan then.