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 Coburg
MPMohit Pachauri
Mortgage Broker
0433 316 511
MJMichael Jarrouge
Think Finance Options
SZSimon Zheng
Mortgage Broker
0431 246 331
SFSam Farfoud
Mortgage Broker
0467 809 990
HTharry Tsialtas
Argirios Tsialtas
0425 477 005
AWAndrew White
Mortgage Broker
0403 310 719
GYGuan Yap
Mortgage Broker
0417 544 961
MBMohammed Bakhsh
Dollar Finance Brokers
0421 444 919
LBLory Bisiach
Mortgage Broker
0401 747 195
STSof Tsialtas
Mortgage Broker
0434 338 500
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.