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 West Melbourne
JHJoe Hoang
Loan X Group Pty Ltd
0479 109 109
SKSimon Kay
Mortgage Broker
0403 348 904
BMBen Morrison
Inovayt Finance
0490 193 434
JPJason Pogorelec
Mortgage Broker
0447 600 069
MVMartin Vidakovic
Mortgage Broker
0439 002 199
NRNick Reilly
Inovayt
0418 665 845
NRNick Reilly
Inovayt Asset and Equipment Pty Ltd
0418 665 845
CBChris Brock
Mortgage Broker
0439 826 802
AAAntony Allan
Mortgage Broker
0468 421 972
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.