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.

 

Get a no obligation pre-approval

Get in touch

Call us on 1300 000 657

Send enquiry now