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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