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 Bayswater
GGGirish Ganglani
Mortgage Broker
0423 080 615
JWJimmy Wong
Mortgage Broker
0491 085 471
CBChris Bright
Mortgage Broker
0416 224 042
LLLeon LI
Mortgage Broker
0430 197 347
ZLZhongyi Li
LeMerit Finance Pty Ltd
0433 594 347
MEMark Eisenbise
Mortgage Broker
0401 200 205
WSWayne Stewart
Mortgage Broker
0417 381 614
CBChloe Bright
Bright Finance VIC Pty Ltd
0435 507 593
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.