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 Elsternwick
MLMark Livens
Aussie Elsternwick
0408 031 399
JGJudith Goodman
Mortgage Broker
0411 423 297
NCNeil Christie
Mortgage Broker
0403 400 637
CLChristopher Ladley
Mortgage Broker
0411 554 427
DMDallas Mactier
Aussie Elsternwick
0411 777 278
HVHorton Van Dort
Professional Mortgage Finance Services Pty Ltd
0412 189 330
ASAlex Shumsky
Mortgage Broker
0417 435 093
TWTony Whelan
Mortgage Broker
0401 246 979
SESteve Edmonds
Mortgage Broker
0488 204 853
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.