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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
We're awarded.

Loan amount

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Get started now and pre-qualify


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 construction that could complicate the finance arrangements.

The different stages of a construction loan

Meet some of the team

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

Customer reviews

  • 4.9
  • Value for money Customer service

(Based on 246 reviews. As rated by our settled customers)


Happy how simple it was

The Team were great to deal with. They treated me like a partner and I really enjoyed the experience. Regardless of which team I spoke to - Sales or Customer Care - they quickly and efficiently picked up from each other. I really felt valued through the whole process. The website was easy to use, straight forward, hassle free, logical and simple.

- Stephen D. Shell Cove, NSW , May 29 2018

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

User friendly online process

Actually enjoyed the online process, was made very simple and user friendly. Had fantastic staff to deal with.

- Angela H. Kyabram, VIC , May 21 2018

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

A smarter way to get from loan application to settlement

At, 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.


Call us on
13 10 90
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7am - 7pm, Monday to Friday. AEST
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