Construction Home Loan

You may be thinking of constructing your first home or perhaps building a new home. A Construction Home Loan can be prepared so as to ease the financial burden. Generally, interest is payable only upon the drawdown amount. The builder maybe paid in stages of the development. A registered valuer is appointed to assess the land topography and proposed construction, whilst also monitoring progress on an on-going basis.

Further, payments to the builder and other associated transaction costs are made only after the valuer has verified the next stage of construction has been completed and that you are satisfied with the level of work in progress.

Construction Home Loans ideally cater for land purchases where there is a clear intention to build, or perhaps constructing a residence on land currently held or towards the final process of the completion of a land purchase and construction.