Building a home requires specialized financing with progress payments and different structures to standard home loans. Construction loan specialists understand builder contracts, progress draw schedules, and council requirements.
Why Use a Construction Loans Specialist?
- Progress payment draw-down structures
- Land and construction package finance
- Knock-down rebuild loan expertise
- Owner-builder loan options
- Fixed price contract requirements
Construction Loans Brokers in Erskineville
DMDavid Mortlock
Mortgage Broker
0412 688 513
TNTommy Nguyen
Loan Market Erskineville
0466 025 312
MKMark Khederlarian
MK Finance Holdings PTY LTD T/as MK Finance Co
0413 411 182
GSGraeme Salt
Origin Finance
0457 755 084
TCTeresa Cahill
Mortgage Broker
AWAndrew Woods
Mortgage Broker
0412 210 748
ETElly Tso
EC landings and consulting pty ltd
0430 070 123
JQJoanne Quinn
Mortgage Broker
0434 643 036
Frequently Asked Questions
How do construction loan repayments work?
During construction, you typically only pay interest on funds drawn. Once complete, the loan converts to a standard principal and interest home loan.
What deposit do I need for a construction loan?
Most lenders require 20% of the total cost (land + build). Some allow less with LMI. You'll also need funds for council fees and other costs.
Can I get a construction loan for an owner-builder project?
Yes, but options are more limited. Lenders typically require higher deposits and may have stricter requirements for owner-builders.