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 Mornington
JSJoe Siragusa
Mortgage Broker
0429 990 143
MDMandy Donoghue
Abundance Home Loans
0488 059 510
BSBen Simmons
Mortgage Broker
0413 563 762
GMGlenn Martin
Mortgage Broker
0411 365 688
MEMandy Evans
Future Finance Group
0480 718 868
KDKarlee Davern
Mortgage Broker
0409 800 213
PBPaul Basso
Mortgage Broker
0488 499 770
SPSam Pansari
Mortgage Broker
0410 987 309
CCChris Corfu
Mortgage Broker
0405 247 472
PRPeter Ritchie
Finance by Peter Ritchie
0417 590 553
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.