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 Sale
TBTracey Blore
On Trac Finance Brokers Pty Ltd
0400 033 850
JMJohn Mayman
Gippsland Mortgage Solutions
0438 514 313
SPScott Pearce
Mortgage Broker
0429 432 600
KMKim McMaster
Gippsland Mortgage Solutions
0438 235 375
KMKayden Mitchell
Tiho Finance
0458 759 279
ZWZac Wheeler
Mortgage Broker
0499 557 800
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.