Construction or renovation?
Whether you are renovating or building a new home, each option has its own set of pro's and con's. It can be a stressful situation and as your local home loan specialist, I can help simplify the process Let's take a look at some of your options:
- Renovating your existing home
- Building a new home
- Buying off the plan
If you're planning a home renovation, the question of how you'll fund the project should carry as much weight as decisions about your preferred design and choices of fittings and finishes:
- Loan top up
- Loan refinance
- Line of credit loan
- Construction loan
Applying for a construction loan is in some ways the same process as applying for a standard home loan. But unlike a traditional home loan, when you apply for a construction loan you are asking your lender to provide funding for an asset that isn't yet built, which means the lender will ask for some additional documents. This is where I can help.
What does a Mortgage Choice broker do?
- Work with you to evaluate your home loan needs
- Calculate how much you can borrow
- Talk to you about additional documentation you'll need
- Check if you're eligible for building incentives
- Help you plan for progress payments
- Make sure you understand the costs involved, and when you'll be asked to pay
- Do all the paperwork and follow through the entire process with the lender making it as hassle-free as possible for you
- Work with you to make sure you have the right insurance in place to protect yourself, your family and your assets should the unexpected happen.
The benefit of speaking with a Mortgage Choice broker our home loan service is at no cost to you - the lender pays us after your loan settles.
Talk to us today
We'll help you sort out your finances so you can focus on planning, building and enjoying your new home.
Jo Duncan | Finance and Mortgage Broker | Inner South West Brisbane