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Progress inspections and invoices 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. Funds for the construction are released to the builder within five business days. This is to make sure the builder is paid for the work completed once each project milestone is met.
Progress payments to your builder The funds available for construction will be drawn down via progress payments which are paid directly to your builder. This way you are only charged interest on the funds used and not the total approved loan amount, which reduces the interest you pay.
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Our construction loan is perfect if you:
The construction loan offers a competitive interest rate that converts to our market-leading Offset variable home loan once the construction of your new home is complete.
Before you can apply for a construction loan you must have:
The building contract needs to be a fixed price contract so cost of each building stage is preset. This ensures no hidden costs are incurred during the construction process that could complicate the finance arrangements.
Progress claims and valuations
Interest Only during construction
No monthly or ongoing fees
After completion
Smart Money app
Loans.com.au makes borrowing simple so you can purchase or refinance with confidence. Go from application to settlement in three easy steps. Here's how to lock in a super-low-rate home loan, super-fast.
Apply online or on the phone with one of our Australian-based loan specialists.
It is easy for you to track your application to approval, receive your loan documents and set up online services with our award winning onTrack app.
We do everything required for the loan settlement, so you can start saving money.
Our friendly, Australian based, Lending and Customer Care experts will ensure you have a quick and hassle-free experience.
(Based on 241 reviews. As rated by our settled customers)
READ MORE REVIEWS
Louise T. Morningside, QLD
Smooth application
March 29 2018
Staff were wonderful from start to finish. Everything went smoothly. Thanks for your great customer service.
Value for money: 5/5 Customer service: 5/5 Recommend to a friend?: Yes
Thomas U. Glenelg North, SA
Helpful loan specialists
March 15 2018
All loans.com.au loan specialists were very helpful all the way through to settlement. Thank you!
At loans.com.au, we believe applying for a home loan should be a speedy and hassle free process. OnTrack allows you to quickly get your loan through to approval and settlement while we do the heavy lifting for you behind the scenes.
Find out how much you can borrow based on your income and expenses.
Shows how your mortgage repayments will vary depending upon the size, interest rate and duration of your loan.
Works out how much stamp duty you'll have to pay depending on the property’s value and location.
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