I want to borrow money on a deferred payment basis. The deferment period will be 1 year and thereafter the loan will be for 10 years with monthly in arrears payments. The interest rate is 8% per annum with interest calculated monthly. The loan is to be secured on a property that I am building and the bank is prepared to lend subject to repayments not exceeding 75% of the estimated income of $9,500 per month. How much can I borrow?