Our free Construction Loan Advice | Mortgage Broker Epping & Mernda
Building your own home is a dream for so many: and we can understand why! You get to design your layout, choose custom finishes and prioritise your budget on what's important to you. We're here to find you a great construction loan & free up your time so you can focus on designing your brand new home.
What makes a construction loan different?
Instead of handing over a single lump sum, a construction loan is paid to you (or more likely, your builder) via a series of payments that coincide with key construction milestones. The timing of the payments can vary from lender to lender, but the payment plan usually follows the building stages: slab, frame, lock-up, fit-out and completion!
There are three main advantages of a construction loan:
- Only pay interest on the amount you have received - not the full amount.
- Interest-only payments until the build is complete.
- Your lender will check the workmanship giving you an extra set of eyes on the build.
How can the Mortgage Broker Epping & Mernda team help?
In the past, there may not have been many options for you when it came to a construction loan, but now there are plenty of options for a wide range of lenders.
- We have over 30 lenders on our panel and hundreds of construction loans;
- We will organise the documentation you need and liaise with your builder and your bank;
- Our team put together the application and do all the follow-up
- Our home loan service is free!
House and Land packages: what loan type do I need?
Our free Construction Loan service
We look forward to you find a great construction loan - they are such a great option to finance your new home or major reno. Whether you're ready to buy straight away or would just like to ask a few questions - we're available. Our Mortgage Broker team service the Epping, Mernda, South Morang, Doreen & Bundoora areas as well as clients across Victoria. Contact us today!
Our Mortgage Broker Epping VIC team service the areas of Epping, Bundoora, Lalor, Thomastown, South Morang, Mernda, Mill Park, Yarrambat, Wollert, Woodstock, Beveridge, Doreen, Yan Yean, Wallan, Whittlesea, Wandong, Bylands, Kilmore & surrounding areas.