close-icon
close icon
search icon Apply phone 13 10 90
Find out if you qualify

Ready to build your home?

loans.com.au is here to help you get your finance sorted so you can build your home, or complete your renovations.

The process from application to settlement is completely online, over the phone and email, but at every step of the way, you’ll talk to a real person to help you through.

Unlike regular home loans, construction loans are drawn down in stages. At the completion of each stage of the build or renovation, we arrange an inspection and then pay the builder for that work. This means you aren’t paying the builder upfront for something you haven’t yet received.

Initially you’ll apply for a construction loan, which is in place until your home is completed. Upon building completion, the construction loan will revert to a low rate variable loan, with the amount based on the value of the property upon completion of construction.

No matter if this is the first time you’ve built your home or you’re a seasoned expert, we’re here to help.

Loans for building a house



We're recognised & awarded by the Australian financial industry. View all awards

 image
Green Construction Loan
  • 3.63%
    discount var rate p.a.++
  • 4.08%
    comparison rate p.a.*

Low rate construction loan with added benefits for homeowners.

Why finance your build with loans.com.au?

super-low-interest-rates-icon

Low construction rates

We offer some of the lowest construction rates in Australia, plus we even offer a discount for on your construction loan if the home you build complies to a certain environmental standard based on the Nationwide House Energy Rating Scheme (NatHERS).

experienced-brisbane-based-loan-specialists-icon

Australian based support team

We have an experienced, Australian-based team here to help you. At every step of the way, you’ll talk to a real person from our friendly team of lending specialists, and we can help as little or as much as you like from applying for your loan, to settling and building your home, and beyond.

flexible-home-loans-icon

Easy application & Quick approval

We know building a home can have its stressful moments, so we’re here to help make the finance process as simple as possible. You can find out if you pre-qualify for our Construction Loan in just minutes. The application process is simple, online, and we can help at a time that suits you via Live Chat or through our app onTrack, or by calling your lending specialist.

super-low-interest-rates-icon

No ongoing fees

At loans.com.au, we don’t charge any monthly, annual or ongoing fees, so you can save thousands and focus on the build.

experienced-brisbane-based-loan-specialists-icon

Option to add an offset

After the construction period, you have the option to add an offset sub-account with unlimited redraws so you can save on interest and potentially shave time off your home loan.

flexible-home-loans-icon

onTrack advantage

onTrack is our online app which allows you to complete your home loan application on your device from initial contact through to settlement, build and beyond. In onTrack you can complete your loan application in your own time, as it suits you.

Common construction loan questions

To apply for this loan, you’ll need to have:
  • Finalised the purchase of your land
  • Selected a licensed Master Builder
  • Building plans
  • Copy of the fixed HIA/MBA Building contract
The comparison rate identifies the true cost of a loan. The reason the comparison rate is lower than the standard rate is because the loan will begin on a higher interest rate due to being construction and on interest only repayments. Once the construction period and interest only repayment period is complete, the loan will revert to a standard variable, principal and interest rate, which will likely be lower than the construction interest only rate.
With the completion of each stage of your renovation or build, we’ll arrange an inspection of the property and then pay the builder directly for the completed work. Each progress payment is called a drawdown.

The number of drawdowns will depend on the agreement between you, your builders, and your lender. Loan repayments in constructions loan are interest-only but once the entire renovation is completed, the construction loan will revert to principal & interest repayments, unless you request to extend the interest-only period.
The 6 construction stages are:
  • Deposit
  • Slab down
  • Frame up complete
  • Lock-up
  • Fixing
  • Practical completion

A progress inspection will be carried out by an independent valuer for each building stage. Once your builder sends the invoice to us, a progress inspection will be ordered.
Yes, you may be eligible for our construction loan if you are completing extensive renovations to your existing property.
Simply fill out your application online by entering some of your details here

After your application is complete, use our app onTrack on your desktop or device to add your documents such as payslips, and details of your existing loan.

In the onTrack app, you can track the progress of your application. For more information for documents required for a construction loan:
What documents do I need to buy or build a home in Australia?
A property report is helpful if you’re looking to build a property as it can help determine the right area to build in.

Our property reports provide information such as Properties sold in the area, Market comparison, Median sale prices in the area and Suburb insights.
You can get your dream home at a great low home loan rate because of our online model. We don't have to pay for branches or broker commissions, which means we are able to pass our savings directly on to you through low home loan rates and and no ongoing, annual or monthly fees.
We can provide approval for applicants in as little as 2-3 days, pending the customer's individual circumstances and all correct documentation has been provided. It's important to note that this is not a 'one size fits all' number, and the approval time will depend on each individual applicant's circumstances.

We'd always advise our customers to have the right documentation ready at application stage, so you can move forward with your application as quickly as possible. For more information for documents required for a build:
What documents do I need to buy or build a home in Australia?
After the construction is complete, you have the option to add a 100% offset sub-account to your loan. Many people choose to do this to help pay their home loan faster and save thousands on interest payments. For an extra 0.10% to the loan, you can add a 100% offset sub-account with online, ATM, EFTPOS & Visa debit card access to your money, plus unlimited free redraws. More information on adding an offset here.

Home loan repayment calculator

Use our home loan calculator to estimate what your monthly mortgage repayments could be. Whether you're refinancing or just wanting to understand how much you can afford, all you have to do is enter how the amount you would like to borrow, interest rate, home loan term, payment frequency, and repayment type (either principal & interest or interest-only).

%
years
years
Estimated savings from repayments graph

Your estimated repayments are

$85.40
$20,000
$10,746

Calculator assumptions

Get started

Ready to build your dream home? Simply apply online or chat to a lending specialist and they can do the hard work for you. We make the process easy so you can settle sooner and start the build.

borrow-icon

Talk to a lending specialist

Book a call with one of our experienced lending specialists and they can complete your application for you.

apply-icon

Ready to apply?

Call 13 10 90 or select “Apply Now” to begin your online Construction Loan application.

Get free suburb insights

To help you decide where to build the perfect home, we’d like to give you a free loans.com.au Comparative Market Analysis report giving you information about the area you’re buying in and sale prices in the area.

special-offer-img
special-offer-img
special-offer-img
super-low-interest-rates-icon

Properties sold in the area

You will be able to see details of recently-sold properties in the area including the date they were sold, land size, number of bedrooms, number of bathrooms and garage size.

experienced-brisbane-based-loan-specialists-icon

Market comparison

Detailed information about nearby properties currently listed for sale or recently sold, including their first and last advertised price and days on the market.

super-low-interest-rates-icon

Median sale prices in the area

The median sale price for homes in the area and how it has changed each month in recent years.

experienced-brisbane-based-loan-specialists-icon

Suburb insight

Information about the suburb's demographics, such as household occupancy, household income and household structure.

Useful Resources

hub-guides-img
special-offer-img
BUYING

Guide to Building and Renovating

Most people have questions about how it works to finance the building of your new home, or even completing renovations. We’ve created this guide to make things easier for you to understand and help you start saving sooner.

From information on how to apply for a construction loan to advice on the separate stages of construction, you’ll find what you’re looking for in our guide. Plus, we’re available to help via Live Chat at most times of day.

 
How it works - Home Loans - Build
1:51
building house

Stages may differ from lender to lender, but these are the common stages of building a house.

building house

Building a new home involves a lot of trust. Trust in yourself to make good decisions and trust in your builder to turn your dream into a reality.

building house

Now that you have your land it's time to build your dream home. To help you achieve your dream you will need a builder.

building house

We have rounded up 8 of the best house design apps for both Android and iPhone users to help you get inspired, start your planning and build your dream home today.

building house

Having a pool comes with many benefits. In addition to giving you a spot to cool off on a hot day, it can also potentially add value to your house. Here’s how much it costs.

building house

Green homes don’t just help save the environment. They can also save you money in the long run. But what exactly is a green home? And what is a green home loan?

building house

Many of Australia’s most beautiful and interesting homes are built on sloping blocks because a well-designed home on a slope offers many opportunities not available on the flat.

building house

As many as two-thirds of homeowners said they planned to do some kind of renovation in 2020, and this trend looks set to continue.

building house

Buying a house soon? Don’t forget to do a thorough house inspection before you put pen to paper. Find out what to look for and the right questions to ask at a house inspection.

building house

When you own a swimming pool you have the opportunity to keep cool during summer, keep your children and guests entertained, as well as add a stylish feature to your home.

building house

Australian homeowners now have the chance to receive a $25,000 gift to put towards the building of your new home or renovations through the Government’s $25k HomeBuilder grant.

building house

Home improvement projects cost a lot of money which is why it’s important to have a renovation budget. It means you can better monitor your expenditures, and make more financially reasonable decisions.

building house

Renovation project management is essential to the success of your house renovation. Follow our five tips to help you accomplish your renovation seamlessly.

building house

Solar power systems for your home can be a good way to minimise the environmental impact of your household, and could reduce your power bill over time. But how do you finance one?

building house

Storm season is officially upon us and that means our homes are more prone to storm damage. To make sure your home is ready for storm season, consider making these home improvements.

building house

Your roof is one of the most fundamental parts of your home. Read here the five signs of roof damage and how much it costs to replace a roof.

building house

DIY is taking off as Australians take on new projects while they are in lock down. Here are some of the best home improvement ideas.

building house

Knocking down your house and rebuilding is a big decision but one that also comes with the exciting possibility to build your dream home.

building house

If you are struggling to afford the high price of a property in Australia’s capital cities, it can be tempting to save money up front by purchasing a “fixer-upper”.

building house

How much does it cost to build a house? To eliminate budget surprises, here are the common hidden costs of building your own home.

building house

If you’re looking to buy a property, one of the first considerations is whether you should build or buy. Find out here the pros and cons of buying vs building a house.

building house

But not all renovations will add value - in fact, some renovations will detract from the value of your property so much they’ll make you wish you’d never picked up a hammer and drill to begin with.

building house

If you’re thinking about building your own home, a key element underpinning most of your construction decisions will revolve around the cost. Let's find out how much does it cost to build a house in Australia.

building house

Construction loans differ greatly to a normal home loan thanks to something called progressive drawdown. Check out our guide on how construction loans work.

building house

A construction loan is a type of home loan that's designed for people who are building their own home as opposed to buying an established one.

building house

Entire workforces that previously commuted to and from the office every day have now started working from home, and when the dust settles, it’s likely we’ll see large swathes of our working population stay this way.

building house

Learn how to use the equity built up in the land you own to use it for a construction loan with loans.com.au.

building house

Forward planning and knowledge of the building process can alleviate the stress of building a home. Here are five things you need to know before getting started.


Got a question? We can help

chat-icon

Chat online now

Send us a message via Live Chat and we’ll get back to you instantly.

chat-icon

Talk to a home lending specialist

Our experienced lending specialists can answer any questions you have on our construction loans, the different phases of construction or renovation, or even the home loan application process.