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 Essendon
SRSamantha Rock
Palmer Rock Finance
0412 140 699
FMFab Mastropasqua
Mortgage Broker
0433 417 078
KNKevin Nguyen
Loan Market Kevin Nguyen
0430 640 416
AHAndrew Hubbard
Mortgage Broker
0401 284 693
AWAdam Wilson
Mortgage Broker
0429 646 958
FCFrank Chillura
Clearlight Financial Solutions
0410 588 167
MSMatthew Surjenko
Mortgage Broker
0452 288 475
MWMegan Wild
Mortgage Broker
0411 892 831
DADebbie Atkins
Mortgage Broker
0417 369 940
SMShane Moon
Moonhaven Financial Consultants
0434 030 088
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.