Find out if you qualify

Construction loans

We’ll help take the stress out of financing your building or renovations with our low rates and easy online application.

From streamlined packages to fully-featured loans, you’ll find a low rate construction loan that’s perfect for you.

Ready to build your home?

loans.com.au 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.

Loans for building a house



We're recognised & awarded by the Australian financial industry. View all awards

Green Construction Loan
  • 2.08%
    discount var rate p.a.++
  • 2.39%
    comparison rate p.a.*

Low rate construction loan with added benefits for homeowners.

Why finance your build with loans.com.au?

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Low construction rates

We offer some of the lowest construction rates in Australia, plus we even offer a discount for on your construction loan if the home you build complies to a certain environmental standard based on the Nationwide House Energy Rating Scheme (NatHERS).

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Australian based support team

We have an experienced, Australian-based team here to help you. At every step of the way, you’ll talk to a real person from our friendly team of lending specialists, and we can help as little or as much as you like from applying for your loan, to settling and building your home, and beyond.

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Easy application & Quick approval

We know building a home can have its stressful moments, so we’re here to help make the finance process as simple as possible. You can find out if you pre-qualify for our Construction Loan in just minutes. The application process is simple, online, and we can help at a time that suits you via Live Chat or through our app onTrack, or by calling your lending specialist.

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No ongoing fees

At loans.com.au, we don’t charge any monthly, annual or ongoing fees, so you can save thousands and focus on the build.

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Option to add an offset

After the construction period, you have the option to add an offset sub-account with unlimited redraws so you can save on interest and potentially shave time off your home loan.

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onTrack advantage

onTrack is our online app which allows you to complete your home loan application on your device from initial contact through to settlement, build and beyond. In onTrack you can complete your loan application in your own time, as it suits you.

Our Construction Process

loans.com.au makes borrowing to build simple. Go from application to settlement in a few steps. Here's how.

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Apply online

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Goodbye paperwork!

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Settle

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Fund construction in 6 separate stages

Common construction loan questions

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
The rate is higher during construction due to the associated risks. Once construction has completed, your rate will roll over to a lower variable rate.
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.
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.
Yes, you may be eligible for our construction loan if you are completing extensive renovations to your existing property.
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?
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.
You can get your dream home at a great low home loan rate because of our online model. We 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.
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?
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.

Calculate your home loan repayments.



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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.

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Talk to a lending specialist

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

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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 loans.com.au Comparative Market Analysis report giving you information about the area you’re buying in and sale prices in the area.

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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.

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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.

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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.

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Suburb insight

Information about the suburb's demographics, such as household occupancy, household income and household structure.

Useful Resources

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BUYING

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
1:51
building house

Building a new home involves a lot of trust. Trust in yourself to make good decisions and trust in your builder to turn your dream into a reality.

building house

Now that you have your land it's time to build your dream home. To help you achieve your dream you will need a builder.

building house

A construction loan is a type of home loan that's designed for people who are building their own home as opposed to buying an established one.

building house

Stages may differ from lender to lender, but these are the common stages of building a house.

building house

How much does it cost to build a house? To eliminate budget surprises, here are the common hidden costs of building your own home.


Got a question? We can help

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Chat online now

Send us a message via Live Chat and we’ll get back to you instantly.

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Talk to a home lending specialist

Our experienced lending specialists can answer any questions you have on our construction loans, the different phases of construction or renovation, or even the home loan application process.

TAP to chat!