Construction Finance

Residential construction loans are available to clients wishing to purchase vacant land licensed or knock down and rebuild, builders and owner-builders subject to acceptable LVR’s and servicing criteria.

A construction loan is money you borrow specifically for infrastructure projects, such as a building a new home or unit.

There are four kinds of construction loans, as follows:

  • Bridge Loan – if you have an existing house, you can use the equity on it as initial payment for your new house.
  • Construction to Permanent Loan – a construction loan and a mortgage loan rolled in one.
  • Land Loan – for buying lot only.
  • Remodeler’s Loan – for people who would want to revamp their homes.

The main advantage of a construction loan is that the funds are accessed in stages of building, thereby reducing the interest payments made while the house or unit is going through the stages of building.


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