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CONSTRUCTION LOAN INFORMATION FOR AUSTRALIAN BORROWERS
Obtaining a Construction Loan in Australia – Information, money saving tips and commentary

Construction Loan



The best place to start your home loan search

What is a Construction Loan?

A Construction Loan is for people who are building a new home, although some lenders also provide the same type of loan for renovations.

In each case the loan funds are drawn down in stages as the builder reaches agreed construction milestones. The lender uses an independent expert to monitor the construction process and only makes progress payments when the builder has reached certain objectives and met satisfactory standards.

Most lenders only require interest payments on the loan during the construction phase. After completion the loan becomes a standard variable rate loan. In some cases it becomes a fixed interest loan.

A construction loan helps to minimise your mortgage repayments until your new home is completed, takes control over payments to the builder, and and reverts to a normal loan on completion.


CONSTRUCTION LOAN FOR PERSONAL OR INVESTMENT PROPERTY
Std Variable Rate Loan
Basic Variable Rate Loan
Fixed Interest Loan
Split Loan
Home Equity Loan
Debt Consolidation Loan
Low Doc Loan
Non-conforming Loan
Line of Credit
Interest Only Loan
Reverse Mortgage
Construction Loan
Renovation Loan
Refinancing
Home Loan Resources
Mortgage Broker
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The best place to start your home loan search

The Tomorrow Finance provide a Free Home Loan Quote service for Australian home owners and real estate investors. Ask them for a Free Quote on a Home Loan or Investment Property Loan.
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