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 The Junction
JMJohn McMahon
McMahon Financial Broking Associates
0410 619 755
NSNick Shanley
Shanley Financial Planning
0425 345 128
CMChristine McGregor
McGregor Finance Group
0448 161 222
MBMichael Blyton
Mortgage Broker
0423 599 324
BGBianca Griffiths
Mortgage Broker
0472 503 198
CMCraig McGregor
McGregor Finance Group
0421 090 812
EDEmily Durham
Mortgage Broker
0498 499 919
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.