Exercitation ullamco laboris nis aliquip sed conseqrure dolorn repreh deris ptate velit ecepteur duis.
Close
-
2/3 ,Geehi Way, Ravenhall, VIC 3023
-
Monday to Friday: 9am to 6pm
Construction Loan
Fees payable on the repayment of your Facility.
When & why consult a mortgage broker?
Construction loans are different from the regular home loans. So, before you go ahead with the construction or renovation of your new home you should talk to a mortgage broker who can lead you through the process..
A mortgage broker will be able to give you valuable advice and explain extensively, what a construction loan is and how it can benefit you.
Lender’s Administration Fee
Construction Drawdown Fee
Loan Processing Fee
Annual Fee
Find the best offers for construction loans
Research and compare construction loan offers from varied sources before making a final interest rates.
Ensure to have a clean credit history
Prior to applying for a construction loan, guarantee that your credit history is clear. Also, get yourself into a good financial position.
Make your deposit
Make a deposit to the loan company or purchase the lot of land where the home is to be built on. This acts as sufficient security for the loan at this stage.
Approval from council
Prior to approval of the final payment of your construction loan, you require to present an occupancy certificate, issued by your local council.
Construction Loan Facts
Qualifying requirements
It is essential to involve a qualified builder/ licensed general contractor in building or renovating your home because financing institutions that will allow you to act as your own general contractor are hard to find.
- Involvement of a Qualified Builder
- Detailed Renovation Specifications
- Estimate of Home Value by Appraiser
- Large Down Payment