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 Newtown
MJMarika Johnson
Geelong Financial Group
0439 273 347
SOSophie Osmond
Osmond Financial Services Pty Ltd
0438 545 899
CRCourtney Robinson
Mortgage Broker
0352 242 700
BWBrian Wickenton
Bay City Finance Group
0408 034 477
WSWayne Stiles
Next Chapter Financial Group
0417 571 715
TCTom Chirnside
Chirnside Capital
0403 550 600
JCJayne Collard
Mortgage Broker
0417 358 772
MRMichael Rowe
Mortgage Broker
0433 155 935
BSBlake Sutterby
Geelong Financial Group
0416 064 380
SDSarah Daly
Mortgage Broker
0450 297 477
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.