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 Footscray
LTLan Truong
Mortgage Broker
0435 854 559
WLWilson Leung
Mortgage Broker
0422 339 593
SESteven Emms
Mortgage Broker
0432 068 100
TMTrevor Maitland
Mortgage Broker
0407 518 222
PNPhuong Nguyen
Mortgage Broker
0430 056 660
TBToby Box
Wealth Effect Pty Ltd
0401 626 114
ABAndrew Box
Mortgage Broker
0409 746 004
TKTom Kuo
Mortgage Broker
0422 030 221
SGSimon Giuliano
Accomplished Finance Solutions
0449 845 145
MMMitch Mcleod
Mortgage Broker
0431 169 069
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.