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 Somerville
CCChris Capponi
Mortgage Broker
0466 235 726
LSLorenzo Scribani Rossi
Plutus Finance Group
0414 702 090
TSTeash Stoll
Mortgage Broker
0431 140 864
DCDaryl Clark
XANZ Pty Ltd
0413 751 568
STSteve Tully
Mortgage Broker
0428 597 665
DBDerek Bignell
We Know Loans
0419 515 889
JMJennifer McLeod
Jenga Finance
0406 543 741
IMIsmar Muratovic
Mortgage Broker
0404 146 202
PBPauline Bignell
We Know Loans
0400 402 022
TWTravis Whelan
Seeder Finance
0422 608 757
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.