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 Ocean Grove
DFDoug Fairbrother
Mortgage Broker
0412 699 474
BPBenjamin Potter
Mortgage Broker
0437 155 955
RVRuth Van Eekelen
Mortgage Broker
0420 278 100
DBDarcy Brown
Enterprise Capital Pty Ltd
0409 701 474
JLJon Lorbeer
Ocean Grove Home Finance Pty Ltd
0432 388 238
JVJoedy Van Eekelen
Mortgage Broker
0418 519 226
LPLogan Popple
Mortgage Broker
0468 949 359
DMDavid Moss
Mortgage Broker
0403 640 884
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.