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 Glenroy
ECElgan Cohen
Brilliance Finance Group
0490 017 559
NRNeha Ranjit
AusPac Finance
0424 758 006
HPHeath Prytherch
Mortgage Broker
0498 093 113
SHSunny Hamal Hamal
Aussie Finance and Home Loans Melbourne
0423 837 073
KMKavita Menon
Mortgage Broker
0478 577 660
PKPraveen Komaragiri Komaragiri
Supra Financial Services
0402 381 313
Aamir Shaik
Mortgage Broker
0434 040 689
GFGianluca Fantacci
Mortgage Broker
0435 807 273
MSMitralal Sapkota
Mortgage Broker
0422 235 318
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.