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 Elwood
MMMariana Mergl Favaretto
Capta Financial Pty Ltd
0421 255 841
NGNick Gurry
Mortgage Broker
0408 001 112
JCJoyce Cheng Cheng-Durur
Mortgage Broker
0482 027 715
MRMartin Ryan
AXTON Finance
0419 362 255
GMGorana Masic
Mortgage Broker
0413 187 837
JCJames Christie
Mortgage Broker
0432 544 422
TFTony Feehan
Mortgage Broker
0412 316 664
ICIan Creighton
Mortgage Broker
0401 840 667
MHMichael Holmes
Mortgage Broker
0402 478 345
TLTim Langdon
Mortgage Broker
0434 350 106
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.