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 Prahran
MPMike Pringle
Mortgage Broker
0433 389 829
THTom Healey
Monte Finance
0447 711 398
JWJames Waters
Dare Finance
0438 007 068
PLPaul Lloyd
Mortgage Broker
0411 277 336
JMJohn Mongan
Peak Finance Broking
0428 713 277
KKKerry Kalendra
Mortgage Broker
0411 316 747
Chris White
parker lane
0400 247 471
ETErkina Tolbaeva
Mortgage Broker
0433 239 384
RHRodney Harrison-Smith
Wellington Financial Group
0412 549 111
ACAdam Connelly
Connelly Finance Group Pty Ltd
0417 956 955
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.