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 Heidelberg
DJDilip John
Mortgage Broker
0401 028 306
VRVince Raso
Mortgage Broker
0414 397 636
JSJason Starchenko
The Loan Brokers
0468 858 725
ARAaron Rees
Loxley Financial
0405 611 407
BCBabita Chhibber
BAJ Australia Pty Ltd
0449 944 321
AMAndy Melling
Next Generation Mortgages Pty Ltd
0422 865 303
GLGarry Li
Mortgage Broker
0406 317 878
DIDrew Ivory
PBI MORTGAGES
0456 440 606
GRGary Ritchie
Mortgage Broker
0423 265 650
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.