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If you are planning to build your dream home or renovate, this loan is perfect for you.

 
  • Interest only for the first 12 months during construction
  • Borrow up to 90% of the total land and building value
  • Five progress claims and progress valuations

Loan amount

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Monthly repayments#
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How are the funds released over the progress of the build?

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.

Building or renovating?

Our construction loan is perfect if you:

  • Have bought land and are looking to begin building
  • Are completing extensive renovations to your existing property.

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.
 

What do I need before I apply?

Before you can apply for a construction loan you must have:

  • Finalised the purchase of your land
  • Selected a licenced Master Builder 
  • Building plans
  • Copy of the fixed HIA/MBA Building contract

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. 

Product features

  • Available for investor
  • Reverts to Offset Variable on completion
  • Five progress claims and progress valuations
  • Interest only for the first 12 month during construction
  • Maximum loan amount is $1,000,000
  • ​Borrow up to 90% of the total land and building value

The different stages of a construction loan

A smarter way to get from loan application to settlement

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.

 

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Calculators

Borrowing power

Find out how much you can borrow based on your income and expenses.

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Loan repayments

Shows how your mortgage repayments will vary depending upon the size, interest rate and duration of your loan.

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Stamp duty costs

Works out how much stamp duty you'll have to pay depending on the property’s value and location. 

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Meet some of the team

Our friendly, Australian, Lending and Customer Care experts will ensure you have a quick and hassle-free experience.
 


Easy steps to apply

Applying online is quick and easy. Over the past year, thousands of people just like you have financed with loans.com.au and saved money.


Simple steps to get a loan

Start your application

Speak to a loans.com.au lending specialist

Login and upload your documentation

Property valuation ordered

Access your account online

Settlement

Loan documentation delivered

Loan approved

Start your application

Speak to a loans.com.au lending specialist

Login and upload your documentation

Loan documentation delivered

Loan approved

Property valuation ordered

Settlement

Access your account online

 
 

Start your application

Speak to a loans.com.au lending specialist

Login and upload your documentation

Property valuation ordered

Loan approved

Loan documentation delivered

Settlement

Access your account online
 

Customer reviews

Value for money: 4.9/5
Customer service: 4.9/5

Based on 228 reviews.
As rated by our settled customers

READ MORE REVIEWS

Nothing else to ask for
Thorough, simple and well managed process. Best rate in the market as well. What else could you ask for with the biggest investment of your life.

Value for money: 5/5
Customer service: 5/5 Recommend to a friend?: Yes

Ojaswi S. - Doreen, VIC
December 01 2017

Happy throughout the process
I will recommend loans.com.au to anyone. I was happy right through to the settlement day for what they have provided me with. To this day I am happy with their efficient and quick service. I will recommend it.

Value for money: 5/5
Customer service: 5/5 Recommend to a friend?: Yes

Safur R. - Byford, WA
November 28 2017

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