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 Geelong West
NWNick Walsh
Mortgage Broker
0425 863 622
RCRobert Carleton
Mortgage Broker
0406 753 943
PMPhillip Morgan
Mortgage Broker
0409 863 810
RHRhys Hultgren
Mortgage Broker
0448 766 786
WFWarren Freeman
Mulcahy and Co Lending Geelong
0408 434 963
AWAlice Wells
Mulcahy & Co Lending Geelong
0404 295 525
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.