Our home loans

Home Loan Interest Rate Comparison Rate Monthly Repayment Product Features Details

Green Construction

6.43 %   p.a. 6.68 %   p.a. $3,137
  • Discounted green construction rate
  • Interest only during construction
  • 10% deposit minimum
Do I Qualify?

Solar Construction

6.43 %   p.a. 6.68 %   p.a. $3,137
  • Discounted solar construction rate
  • Interest only during construction
  • 10% deposit minimum
Do I Qualify?


7.19 %   p.a. 7.00 %   p.a. $3,391
  • Build or renovate your dream home
  • Interest only during construction
  • 20% deposit minimum
Do I Qualify?
#Based on the dollar value represented in the search fields with P&I repayments and a 30 year loan term.
2024 WeMoney - Best Value for Refinance 2023 WeMoney - Best for Value (Variable) 2024 Mozo - Expert's Choice for Best Green Home Loan Gold Award - Best Green Home Loan 2022 WeMoney - Outstanding Customer Service
Our home loan products are recognised & awarded by the Australian financial industry

Ready to build your home? 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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Why finance your build with

Low interest rates

Being an online lender with fewer overheads means we’re able to pass on the savings to our customers.

Australian based

Get help when you need it from our friendly team of Australian based, lending specialists.

Flexible options

Looking to save with an offset, or make extra repayments with a redraw? We have a full range of loan features to suit your situation.

Award winning

We keep on winning awards for our products, innovations and customer service, year after year!

Our construction process



Simply fill out your home loan application online by entering some of your details, or chat to one of our friendly lending specialists over the phone and they can complete your application for you.



After your application is complete, use our system we call onTrack on your desktop or device to add your documentation such as payslips and bank statements, and track the progress of your application.

Speak to specialist

Speak to specialist

You will then have an appointment with one of our lending specialists to organise your preliminary approval of your loan, and help you progress through the home loan approval process through to settlement as quickly as possible.

Signing document

Signing document

Check onTrack to receive your final approval, mortgage documents and loan agreement. You must sign these and return them in to onTrack.



Your loan will settle and you’ll start saving with your new loan rate, and get your keys to your new dream home!

Access your account

Access your account

Once settlement is complete, we will send your login credentials to start managing your payments in the Smart Money app.

Fund construction

Fund construction

Now we start to pay for each stage as it is completed. As each stage is finished, we arrange a progressive inspection and then, if everything is in order, we pay the builder directly. The stages of the construction loan are listed below.

  1. Deposit - Paid to the builder to commence work

  2. Base - Concrete slab complete or footings and base brickwork complete

  3. Frame - House frame complete and approved by inspector

  4. Lockup - Windows/doors, roofing, brickwork, insulation

  5. Fixing - Plaster, kitchen cupboards, appliances, bathroom, toilet, laundry fittings/tiling, heating, fixing/internal doors, etc., plumbing, electrical, painting

  6. Practical completion - Fencing, site clean-up, final payment to builder

Common construction loan questions

The comparison rate identifies the true cost of a loan. The reason the comparison rate is lower than the standard rate is because the loan will begin on a higher interest rate due to being construction and on interest only repayments. Once the construction period and interest only repayment period is complete, the loan will revert to a standard variable, principal and interest rate, which will likely be lower than the construction interest only rate.

The 6 construction stages are:

  • 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.

We can provide approval for applicants in as little as 2-3 days, pending the customer's individual circumstances and all correct documentation has been provided. It's important to note that this is not a 'one size fits all' number, and the approval time will depend on each individual applicant's circumstances.

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?

With the completion of each stage of your renovation or build, we’ll arrange an inspection of the property and then pay the builder directly for the completed work. Each progress payment is called a drawdown.

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.

A property report is helpful if you’re looking to build a property as it can help determine the right area to build in.

Our property reports provide information such as Properties sold in the area, Market comparison, Median sale prices in the area and Suburb insights.

To apply for this loan, you’ll need to have:

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

After the construction is complete, you have the option to add a 100% offset sub-account to your loan. Many people choose to do this to help pay their home loan faster and save thousands on interest payments. For an extra 0.10% to the loan, you can add a 100% offset sub-account with online, ATM, EFTPOS & Visa debit card access to your money, plus unlimited free redraws. More information on adding an offset here.

You can get your dream home at a great low home loan rate because of our online model. We don't have to pay for branches or broker commissions, which means we are able to pass our savings directly on to you through low home loan rates and and no ongoing, annual or monthly fees.

Simply fill out your application online by entering some of your details here

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?

Yes, you may be eligible for our construction loan if you are completing extensive renovations to your existing property.

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).

Estimated savings from repayments graph

Your estimated repayments are


Calculator assumptions

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.


Talk to a lending specialist

Book a call with one of our experienced lending specialists and they can complete your application for you.


Ready to apply?

Call 13 10 90 or select “Apply Now” to begin your online Construction Loan application.

Get free suburb insights

To help you decide where to build the perfect home, we’d like to give you a free 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.

How it works - Home Loans - Build

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