Construction Loans
Construction loans release funds in stages as your build progresses. We'll help you get across the paperwork, the timeline, and what lenders need from you.
How a construction loan works
Unlike a standard home loan where you get the full amount at settlement, a construction loan releases funds in stages as your builder hits each milestone. Jason Wang can talk you through how it works.
Slab / Base stage
Foundation is laid and site preparation is complete. First progress payment released.
Frame stage
Wall and roof frames are up. The structure takes shape. Second payment released.
Lock-up stage
Windows, doors, and external walls installed. The building is secure.
Completion stage
All interior finishing, fixtures, and final touches complete. Final payment released.
What to prepare for a construction loan
A fixed-price building contract
Lenders typically require a fixed-price contract with your builder. We'll explain what lenders look for.
Council-approved plans and permits
You'll need approved plans, specifications, and relevant permits. We can help you understand the timeline.
A realistic budget with contingency
Builds rarely go exactly to plan. Having a financial buffer for variations helps keep your project on track.
Subject to lender assessment and approval. Construction loan terms, progress payment structures, and eligibility criteria vary by lender. This information is general in nature and does not constitute financial advice.
Free initial consultation
Ready to build your new home?
Request a free consultation and we'll talk through your build plans.