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 Newport
VFVicki Fraser
Vicki Fraser Pty Ltd
0492 180 515
KSKerrie Slinger
Mortgage Broker
0414 879 905
SMSteve Martin
Seek Financial
0407 682 796
KSKarlie Scharfenberg
The Loans Suite Group Australia Pty Ltd
0406 870 080
JWJeff Walls
Four Walls Finance Pty Ltd
0419 642 906
KHKaiden Harrison
The Loans Suite
0402 794 646
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.