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 Heathmont
AKAbbas Khorakiwala
Mortgage Broker
0415 158 987
TBThomas Bailey
Mortgage Broker
0421 617 868
DSDavid Stephens
Mortgage Broker
0401 851 129
ACAman Chandra
AusPac Finance
0449 157 004
SXSharon Xie Xie
GOPAX Pty Ltd
0478 049 380
RDRobin D’Rozario D’Rozario
ARC Global Enterprises Pty Ltd
0415 704 050
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.