Construction Loans

Build your dream home with flexible financing and expert support at every stage.

Why Build with Us

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Flexible Draw-Downs

Pay only interest during construction with staged payments released as your build progresses.

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Land & Build Package

Finance both land purchase and construction in one comprehensive loan with competitive rates.

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Your Design, Your Way

Whether you're using a builder or owner-building, we'll structure the right loan for your project.

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Expert Guidance

Navigate council approvals, builder contracts, and progress payments with confidence and support.

Your Construction Journey

1

Initial Planning

We review your plans, budget, and determine your borrowing capacity for land and construction.

2

Pre-Approval

Secure conditional approval based on your plans, builder contract, and cost estimates.

3

Land Settlement

If buying land, we arrange settlement first. The construction loan component begins after.

4

Progress Payments

Funds are released in stages as construction milestones are reached and inspected by valuers.

5

Completion & Conversion

Final payment released upon completion. Loan converts to standard home loan with regular repayments.

Construction Loan Requirements

Approved Plans

Architectural plans, council approvals, and all necessary permits for construction

Builder Contract

Fixed-price contract with a licensed builder or detailed costings for owner-builders

Deposit Funds

Typically 10-20% deposit plus ability to cover cost overruns and initial expenses

Strong Serviceability

Income to service construction interest plus future full loan repayments

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Construction Checklist

Construction Loan FAQs

How do progress payments work?

Funds are released at key construction stages (e.g., slab, frame, lock-up, fixing, completion). Each stage requires a bank valuation inspection before payment.

What happens if construction goes over budget?

You'll need additional funds to cover overruns. That's why it's crucial to have a buffer (typically 10%) and accurate costings from the start.

Can I get a construction loan as a first home buyer?

Absolutely! Many first home buyers build new homes to take advantage of grants and stamp duty concessions. We'll guide you through the process.

How long is the construction phase?

Typical builds take 6-12 months, though timelines vary. During construction you only pay interest on drawn-down funds, not the full loan amount.

Ready to Build Your Dream Home?

Let's discuss your construction plans and secure the right financing. Book a free consultation today.