Construction Loans | Coolangatta, Currumbin, Elanora, Tugan and Surrounds
Your construction home loan specialists!
At Mortgage Choice in Coolangatta we aim to exceed expectations on every level and provide our clients with an authentic and transparent approach.
When it comes to dealing with clients that are looking at options for renovations and new home construction, the utilisation of a tailored construction loan can be one of the most effective products in realising their dreams if current equity levels won’t be sufficient.
Unlike regular home loans, construction loans are based on periodic payments as your project progresses. Lenders generally specify the time limit on the draw down period with the most common period being 12 months.
These periodic payments can broadly be expected to follow the following stages; Preparation, Slab (or base floor), Frame, Lockup, Fit out and Final.
The benefits of these types of loans are that they are calculated with the future value of the property in mind, which of course allows for funds to be released in lieu of available security at the time required.
If you are looking at a Construction Loan product or would like some further advise on other available options, our team here at Mortgage Choice in Coolangatta can ask all the right questions and guide you to the most successful outcome.
You can download a useful guide by CLICKING HERE; or just give us a call on (07) 5636 1112 for a confidential chat.