Construction Loans & House and Land Packages

Build or renovate with a construction loan

Whether you are looking at a house and land package, or considering a substantial renovation of your existing home, you will require a construction loan.

These kinds of home loans can be daunting, and a mortgage broker is the perfect expert you need to help you through the complexities of these products.

A construction loan is a product that allows proceeds to be drawn progressively as your building goes through various stages.

If you are considering a house and land package, construction home loans often form one part of the overall package you will require, with a split to purchase the land separately.

Construction home loans do vary from lender to lender with differences including:

• Loan terms
• Building timeframes
• Payment types
• Fees & charges
• Inspections and builder payment restrictions
• Cost plus or fixed price contracts

Speak to a mortgage broker at Mortgage Choice Charmhaven to discuss your construction loan options today!

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