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 Altona Meadows
ZWZen Wong-Aree
Mortgage Broker
0452 365 365
ADAbbey De La Cruz
Mortgage Broker
0431 388 808
SHSimon Hardiman
MCP Financial Services
0412 189 744
TPTommy Papanastasiou
Melbourne Finance Services
0401 478 704
Kim Hue Le
Money Max Group Pty Ltd
0477 107 879
PMPhilip Meilak
Mortgage Broker
0466 945 092
LSLaura Schembri
Mortgage Broker
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.