Construction Loans
We’ll help find you the right loan and support you throughout the construction phase
Build your future with finance tailored to your project.
Building your dream home or taking on a major renovation? A construction loan works differently from a traditional home loan — and we’re here to guide you through every step.
We’ll explain how progress payments work, how to get your loan approved before you break ground, and how to manage costs as construction progresses. Whether you’re working with a licensed builder or managing the project yourself, we’ll help you find the right structure and lender to match your build timeline and budget.
Construction Loans FAQs
What is a construction loan and how does it work?
A construction loan is a specialised loan that provides funding in stages as your new home or project is built. Instead of receiving the full loan amount upfront, the lender releases funds progressively—called “drawdowns”—as each construction milestone is completed.
What are the benefits of a construction loan?
The biggest benefit is that you only pay interest on the funds that have been drawn, not the full loan. This can significantly reduce your costs during the build period. We’ll work with your builder and lender to manage the progress payments and make sure everything stays on track.
What documents do I need for a construction loan?
You’ll typically need a fixed-price building contract, council-approved plans, a copy of the builder’s insurance, and a licensed builder. We’ll guide you through the checklist and help you prepare the application.
Can I build on land I already own?
Yes. We can arrange a construction-only loan to fund the build, or refinance your land loan into one package that includes construction. We’ll explain the pros and cons of each.
Can I get a loan if I’m an owner-builder?
Some lenders allow this, but it’s a more complex process. You’ll need a solid plan, a clear budget, and often more upfront equity. We can help assess your eligibility and explore alternative structures if needed.
