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 Ultimo
MZMelissa Zhou
Australia Multichoice Finance Pty Ltd
0425 253 936
GLGeorge Li
Mortgage Broker
0423 669 085
WMWei Mao
Best Mortgage Pty Ltd
0412 635 789
DMDarren Moffatt
Seniors First
0401 423 075
ENElena Nikolaeva
Mortgage Broker
0400 252 532
MWMichael Wu
Mortgage Broker
0433 506 165
SZShuyi Zhao
Mortgage Broker
0416 432 410
SSSusan Sun
Central Sydney Finance
0416 158 839
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.