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 Woonona
MCMichael Clayden
Mortgage Broker
0439 436 296
JPJulia Piotrowski
Total Home Loan Service
0409 778 766
DNDavid Newling
Ask Your Lending Specialist Pty Ltd
0438 525 977
NANick Allman
Total Home Loan Service Pty Ltd
0411 617 078
NINate Inman
Residential Lending Group
0428 055 001
GCGreg Cooke
SimpleFin
TITarnya Inman
Residential Lending Group
0422 558 412
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.