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 Black Rock
MFMichael Flinos
Balcombe Financial
0429 179 060
ALAnna Louise Brown
eWealthBuild
0437 410 652
EQEric Qi
Mortgage Plan Corporation Pty Ltd
0431 958 851
PZPaul Zahra
Auxo Finance
0419 546 553
ATAlexandra Taylor
The Lending Society Pty Ltd
0431 913 301
NHNick Hayton
Green Tree Investments Pty Ltd
0408 998 863
AAAdele Andrews
Mortgage Broker
0409 099 603
SCSaskia Coleman
Mortgage Broker
0430 357 094
BHBrendan Hughes
Mortgage Broker
0434 023 003
MYMilla Yao
Mortgage Broker
0426 296 087
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.