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 Geelong
MBMatthew Baker
Mortgage Broker
0455 880 933
EGEmily Geer-Smith
Mortgage Broker
0424 879 210
RMRoss McLachlan
MCP Financial Services
0477 878 949
APAnna Petterwood
Mortgage Broker
0438 503 929
MPMark Petterwood
Mortgage Broker
0413 771 044
SMSarah Maslen
Mortgage Broker
0401 910 070
EHEmily Howard
Mortgage Broker
ISIvan Sim
Mortgage Broker
0429 146 186
STSarah Thomson
Mortgage Broker
0411 847 417
APAndrew Paterson
Mortgage Broker
0409 305 520
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.