Help! I Need Some Advice

Some circumstances have changed, and I am in the position to purchase a property, quite quickly. I would be getting a 95% mortgage that is done through my work credit union and gets me approximately $250 a month back. Basically, by going with this loan, my company rewards me by giving me $250 a month to either go on my mortgage or assist me in my living expenses.

My parents have offered to loan me $10 000 for the down payment. It's interest free of course and I can pay it back in my own time. Obviously, I will be trying to pay it back as soon as possible.

What I need advice on is whether I am overdoing it. After I take out my other mortgage, my car loan, my car insurance and registration and my living expenses, I will have $1120 left each fortnight. My new mortgage repayment will be approximately $850. This leaves me a little over $300 to put into savings, to pay for bigger, unexpected purchases, to pay toward home insurance and rates and also to slowly pay my parents back.

Does anyone think I am overdoing it? Advice would really be appreciated!