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This application has been very easy to follow and I was assisted by the very friendly team when I needed assistance. The team at loans.com.au were very helpful every step of the way. I would recommend them to anyone that needs a home loan.
Salem M. 2017 Dapto, NSW
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:
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.
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.
Complete your application
Login and upload your documentation
Speak to a loans.com.au lending specialist
Property valuation ordered
Access your account online
Settlement
Loan documentation delivered
Loan approved
Start your application
Value for money: 4.9/5 Customer service: 4.9/5
Based on 203 reviews. As rated by our settled customers
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New home loan easily set up This has been a very user-friendly and easy experience in setting up our new home loan.
Value for money: 5/5 Customer service: 5/5 Recommend to a friend?: Yes
Steven W. - Hillside, VIC September 04 2017
Helpful platform and attentive staff Really enjoyed the experience considering how tricky it is to manage. Getting all the forms processed is not always a joy so to have a platform like this was a huge help. Staff were really attentive and knowledgeable.
Value for money: 4/5 Customer service: 5/5 Recommend to a friend?: Yes
Timothy E. - Northcote, VIC September 04 2017
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