Construction Loan Service | Mortgage Brokers Marsden Park, Schfields & Box Hill

Building a new custom home is a dream for most Aussies, but there's a big leap between planning your project and moving in. The right construction loan can make the job easier and more affordable. Our Mortgage Choice team in Marsden Park are experts at making your next property milestone a reality.

How does a construction loan work?

A construction loan is a specialised lending product for anyone who is renovating or building a new house. It differs from a regular home loan by allowing your bank to pay the builder in smaller instalments (called 'progress payments') while building the house. This helps to minimise the interest you pay, as you only pay interest on the portion of the loan you have paid to the builder. 

Don't stress - we're here to help!

While the construction loan process can be a bit more complicated, there's no need to stress! Our Mortgage Broker Marsden Park team are here to guide you through it all.

• Preparation stage: Our team will sit down with you to answer any queries you have about how much deposit you need, what your borrowing power is and if there are any Government incentives you can utilise to stretch your budget. At this stage, you will need to look at blocks of land, different home designs and builders, so we can get a rough estimate of the costs for your desired home.
• Research stage: We will then go away and search through over 35 lenders on our panel to find a construction loan and lender that is going to support your project. We need to match lender eligibility criteria to your finances and the costs of the build. 
• Application stage: Once our research is done, our Marsden Park team will talk you through your construction loan options, so you feel confident about the decision you're making and how your money will be managed throughout the build. Once you decide, our expert team will handle all the application paperwork and liaise with the lender on your behalf.
• Ongoing support: We're here to support you throughout the construction, to moving day and beyond. We'll then remind you when it's time to come back for a loan review to see if we can find you a better deal. 

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Get in touch with our expert team

We would love to be a trusted advisor for your new home! As mobile Mortgage Brokers, we're happy to visit you at a time and place that suits you in Marsden Park, Schofields, Box Hill and wider Sydney.

Our team can also chat by phone or video chat. We're proud to offer our home loan support in English, Hindi and Punjabi.

Call our Mortgage Choice team on 0403 269 378 or request a call back below.

Call: 0403 269 378  Request a call