Construction loan​

Construction loans, also known as building loans, are different from regular home loans, due to building works requiring ongoing payments as the construction progresses. In the case of a traditional home loan, the totality of funds will be made available in a single lump sum, while a construction loan lets borrowers draw on the loan balance when payments need to be made to the builder or contractors. These payments are made at key stages of the building process, and are known as progress payments.

While work is still in progress, you will only be asked to make interest only repayments on money that has been drawn down. This means you will only be paying interest on money that has been used. Therefore, repayments will be smaller at the start of your loan, and will increase gradually as your construction project approaches completion.

In general, construction home loans have a variable rate. This varies depending on lenders, therefore it is something worth speaking to us about. Lenders also often set a maximum timeframe for the complete draw down of your loan, usually around 6 months. If you are not planning to start building right away, you may need to purchase the land on a separate land loan.

Lowest Negotiated Rate

Interest rates are not set in stone, we can find the lowest rates and negotiate on your behalf with lenders

Optimal Loan Solution

Due to different needs, we help our customers navigate the complex world of home loans to find the best loan solutions.

Deliver On Time

A delay in settlement is not only frustrating but can be also costly; we work with lenders closely to keep your loan on track.