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 Parkville
SPStephen Pace
BCP Finance
0423 064 631
CKCynthia Kwok
Mortgage Broker
0427 970 288
GPGehan Pereira
Mortgage Broker
0499 092 850
MKMichael Kent
Mortgage Broker
0499 093 143
BHBrett Hartwig
BCP Finance
0412 447 433
BRBrodie Ryan
BCP Finance
0433 604 997
CRChris Reid
Mortgage Broker
0457 086 106
NBNina Batt
Mortgage Broker
0412 892 899
CBChris Berry
Find A Better Rate Home Loans
0477 212 840
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.