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 Torquay
BBBridget Bowman
SMATS
0491 456 440
PNPaul Nelson
UFGNF Pty Ltd
0421 375 475
DFDarrin Findlay
Mortgage Broker
0408 300 605
LSLachlan Smith
Mortgage Broker
0417 720 744
DDDavid Decelis
Elite Finance Partners
0433 716 124
SVSimon Villani
Mortgage Broker
0425 826 888
LRLeesa Rankin
Rankin Financial Services Pty Ltd
0408 521 123
GLGlen Lochhead
Mortgage Broker
0407 192 072
SCSteven Cruz
Mortgage Broker
0499 780 090
MOMick O’Connor
Mortgage Broker
0412 484 176
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.