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 South Melbourne
PWPaul Williams
Mortgage choice
0421 610 965
SOSimon O’Kelly
Finance for Living
0424 241 262
CDCarlo Di Giovanni
CDG Finance
0409 428 716
VDVu Du
Mortgage Broker
0402 844 279
JNJack Nuzzo
Resolve Finance Domain Square
0409 019 094
JSJames Spanos
Mortgage Loans Made Easy
0414 620 934
MSMark Stutz
Quattro Finance & Advisory
0428 753 228
CRChris Rathgen
Market Street Finance
0438 847 477
EFEsha Frykberg
Mortgage Broker
0410 132 024
SWSean Wellman
Mortgage Broker
0400 669 950
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.