Construction Loans | Mortgage Broker Clyde

Building your own home is becoming more popular and it's not hard to understand why! It gives you the freedom to customise the house to your family and your lifestyle. We're here to help you find the right finance for your build.

What is a construction loan?

Constructions loans are quite different to your regular home loan. Instead of paying a full lump sum, a construction loan pays the amount in stages to correspond with your build as it progresses. It means that you can save by not paying interest on the full amount from the start. It’s important to get expert advice when applying for a construction loan as they typically have a shorter term, a higher interest rate and carry stricter eligibility requirements.

What is a house and land package?

A house and land package can come in two varieties. One option - a ‘turnkey’ solution -  typically offers a newly built home on a particular lot of land, whereas the other option provides you with the flexibility to buy the vacant land first. Generally speaking, you will need a regular home loan to buy the land on which your home will be built. Then, you will require a construction loan where you will draw down on the funds in stages as your home is built.

Many people choose to finance through the developer, but generally, they only have a few finance options on offer. That can mean that you get stuck in a home loan with a high interest rate or with features that don't suit you. 

How our Mortgage Broker Clyde team can help

The thing about construction loans and land loans is they can be fairly admin heavy. It's important to have a team in your corner to run the construction loan while you focus on managing your build!

• We have thousands of construction & land loans available from a wide range of lenders - including the big banks.
• We have the experience to match you to a loan that suits you & the new build.
• We manage the documentation & application on your behalf so you can focus on making selections for your new build.
• We also manage the loan throughout the building stages, as your home progresses.

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Chat to our Mortgage Choice team in Clyde

We're passionate about finding great finance for your next build. Chat to us today to find out more about your construction loan options. We're available in-person, over the phone or video chat.

Contact the Mortgage Choice team in Clyde on 0414 433 753 (Daniel Phillips) or 0434 640 786 (Sara Tavete). You can also request a call back below.

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^{Our team service the areas of Clyde, Clyde North, Cranbourne, Cranbourne North, Hallam, Endeavour Hills, Narre Warren, Beaconsfield, Officer, Pakenham, Koo Wee Rup, Berwick, Hampton Park & surrounds.}