Construction loans | Mortgage Broker Caroline Springs
If you're looking to build a new custom home or complete major renovations on your current home, a construction loan could make your dream home a reality. I can help you sort through what you need from your construction loan and find the right one for you.
In the case of a traditional home loan, the totality of funds will be made available in a single lump sum. With a construction loan, borrowers are able to draw on the loan balance when payments need to be made to the builder. These payments are made at key stages of the building process, and are known as progress payments. It helps to minimise interest paid.
In general, construction home loans have a variable rate, with a maximum Loan to Value Ratio (LVR) of 95%.
Your construction loan options
Most lenders will provide a range of construction loan options, giving you a wide range of loan types to choose from. With 30+ lenders on the Mortgage Choice panel, I will be able to find the right construction loan for your project and complete the admin side for you. This will leave you to focus on designing your new home and managing the project with the builder.
- I give you access to 30+ lenders at once.
- I will let you know what lender and loan type will suit your project.
- I will take care of the admin & legwork for you.
- I'm here for you every step of the way.
- Our home loan service is no cost to you.
House and land packages: how do they work?
Let's chat about your project
As your local mobile Mortgage Choice broker in Caroline Springs, I'm available 7 days a week and can come to you across Melbourne. Let's chat about your next renovation or custom build!
Call Greg Vine at Mortgage Choice on 0401 957 256 or request a call back below.
Call: 0401 957 256 Request a call
Greg Vine is your local Mortgage Choice home loan broker for Sunshine, Caroline Springs, Taylors Lakes, St Albans, Deer Park, Kealba, Hillside, Burnside Heights, Cairnlea, Keilor, Melton, Kurunjang and Eyensbury.
