Construction Loans
Fund your new build, upgrade or renovation with a Construction Loan organised by a Finance and Mortgage Broker at Home Loan Hub
Rated 5 from 115 Reviews
Rated 5 from 115 Reviews
Building your dream home or undertaking major home renovations can be an exciting endeavour, but it often requires careful financial planning. At Home Loan Hub, we specialise in helping clients in the Macarthur region and across Australia access Construction Loan options from banks and lenders. These loans are specifically designed to support the various stages of your building project, whether you're buying off the plan,
embarking on a new build, or planning to demolish an existing property.
When applying for a Construction Loan, it's crucial to understand how these financial products work. Unlike standard home loans, Construction Loans offer a progressive drawdown structure, meaning you only pay interest on the amount drawn down as needed. The Progressive Payment Schedule aligns with construction milestones and is based on an 'as if complete' valuation, providing flexibility and control over your project.
The interest rate on a Construction Loan can vary depending on the lender and other factors like your credit history and LVR. It's important to compare different options to find a rate that suits your budget. Whether you're seeking suitable land or dealing with Out of Contract Items not included in the original agreement, we are here to assist.
Another advantage of Construction Loans is the option of interest-only repayments during the construction phase. This can ease financial pressure as you focus on completing your project. The loan amount is typically determined by the cost of construction and the 'as if complete' valuation of your property. It's also worth noting that additional payments may be required at various stages of the project, particularly if there are changes to the initial plans or unforeseen expenses arise.
Once your project is underway, you'll need to adhere to a Progressive Payment Schedule, making progress payments as each stage is completed. These stages are outlined by your registered builder and include key points such as laying the foundation, framing, and completing the roof. Home Loan Hub helps ensure that each payment aligns with the agreed milestones, facilitating a smooth transition from one stage to the next.
Our team is committed to guiding you through this process, providing valuable insights and assistance every step of the way.
CH
Cam Hunt
Jackie at home loan hub was extremely professional and patient to help us achieve our first purchase. Highly recommend!
TE
Thomas Ewen
Our experience with Jackie was seamless and positive. She was very informative and knowledgeable at her job. She made our entire lending process a breeze and we couldn't recommend her more. Very grateful!
CJ
Christina Jandricic
Easy, stress free, clear communication. 10/10
We take look at a wide range of products available from Banks, Credit Unions & other lenders across the country. This means we can search thousands of products and make sure we're always recommending the best Home Loans for our clients.
Of course! We believe that we can find the best interest rate for you to refinance to, whether it's a Home Loan or Investment Loan.
We can help with Home and Investment Loans, Construction Loans, Car Loans, Personal Loans and much more. If you're looking to borrow to buy something, we can probably help.
All of our Mortgage Brokers are accredited and members of the Mortgage and Finance Association of Australia. They are extremely professional and provide exceptional service across a range of lending options.
There are lots of good reasons why three out of four Australians now use a broker to secure a home loan. Probably the most important one that is we work for you, not the banks. We speak to you first to find out what you need, and then we use our knowledge of the market to better negotiate with the lenders. Then we get a range of options before we work out which one is right for you, not what’s right for the lenders.
We streamline the process.
The first step is we discuss what your financial needs and goals are. Then we research the many different products from a range of lenders to ensure we find the right solution.
And just to make things even easier, we’ll do the paperwork, manage the application process and then take it through to settlement.
Best of all, because this is what we specialise in, we get the process moving quickly. We use our relationships with lenders to secure your finance as fast as possible.
In short, a broker is there to look out for your interests, while lenders are there to look after their own. We don’t have to say who will do a better job for you.
We work fast, and we work hard for our clients.
Having a broker negotiate finance on your behalf is the smart way to go as we save you time, stress and money. You might still be saving for your first home, wishing to use the equity in your current one, or wondering if you’re getting the best possible deal with your existing lender.
The first thing we do is catch up to understand what it is you want. We are, after all, your finance professional, so the better we get to know you, your financial circumstances and long term goals, the better we can help you.
Once we agree on the right loan, we take care of the application, managing the process on your behalf.
We love helping First Home Buyers! We're experts at the entire process and can help you get the right Home Loan. We're also across the various schemes to help First Home Buyers such as the First Home Owners Grant and the various stamp duty exemptions available.
Home Loan Hub Australia Pty Ltd ABN: 35 636 027 766. Credit Representative #477712 is authorised under Australian Credit License #389087.
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
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