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.
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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?
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).
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.
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.
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.
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.
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
- Finalised the purchase of your land
- Selected a licensed Master Builder
- Building plans
- Copy of the fixed HIA/MBA Building contract
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.
- 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.
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?
Our property reports provide information such as Properties sold in the area, Market comparison, Median sale prices in the area and Suburb insights.
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?
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).
Your estimated repayments are
Searching for an affordable home loan rate? Look no further! The Smart Booster will help you boost your equity and own your own home sooner.
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.
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.
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.
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.
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.
Suburb insight
Information about the suburb's demographics, such as household occupancy, household income and household structure.
Useful Resources
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.
Stages may differ from lender to lender, but these are the common stages of building a house.
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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”.
How much does it cost to build a house? To eliminate budget surprises, here are the common hidden costs of building your own home.
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.
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.
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.
Construction loans differ greatly to a normal home loan thanks to something called progressive drawdown. Check out our guide on how construction loans work.
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.
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.
Learn how to use the equity built up in the land you own to use it for a construction loan with loans.com.au.
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
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.