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 Royal Exchange
SNSuhal Naser
Medina Home Loans
0414 777 155
JMJonathan McGrath
McGrath Capital Pty Ltd
0414 567 152
PAPaul Ahearne
Locums Nominees Pty Ltd
0405 172 888
SMSean McGargill
Mortgage Broker
0417 881 109
RWRichard Wellsmore
Futurity Pty Ltd
0402 477 933
SDSteve Domonkos
Mortgage Broker
0428 811 248
NSNatalie Stojanovska
Mortgage Broker
0477 067 553
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.