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Construction loan
Get the right Construction Loan to build your dream home or investment property
Choose the right Construction Loan
Designed to suit your building timeline, we find the lender who can get your plans off the ground. We're experienced in construction lending.
A construction loan is designed to cover the costs of building your new home, from buying land to final construction. Unlike traditional home loans, construction loans provide funds in stages, ensuring you only pay for the work as it’s completed.
How does it work
Understand your borrowing capacity based on your income, credit and what you plan to build
Provide detailed construction plansm building contract and council approvals
Your lender will assess the value of your contruction project based on the value of the land and the building contract
Once all checks are complete your loan is approved and funds are allocated and the land is settled
Funds for the constrcution are released in stages as construction milestones are met. These paymetns are specified in your building contract.
The loan is charged at Interest Only during the construction phase to help keep your payments at a minimum until you can move in
After contruction, the loan switches to a standard home loan with regular payments.
Tip: Construction must start within six months and finish within 24 months. Ensure council approved plans and builders insurance are in place before the first progress payment is made
Latest home loan
interest rates
The comparison rate provided is based on a loan amount of $250,000, term of 25 years, principal & interest repayment. It only applies to the examples given. Different amounts and terms will result in different Comparison Rates.
*
Owner Occupied 2 year fixed P&I
Starting from
5.39
%
p.a
Comparison Rate *
5.82
%
p.a
Investment 2 year Fixed P&I
Starting from
%
p.a
5.55
Comparison Rate *
6.01
%
p.a
We have hundreds of loans to choose from
