Construction home loans are designed for the development of new properties or extensive renovations, providing funds in stages upon completion of each construction phase. Unlike standard home loans that disburse the entire amount at once, these loans are interest-only during the construction phase and drawn down progressively as per the builder's progress. Each construction milestone prompts a new fund release as a progress payment to the builder. Upon completion, the loan typically reverts to a principal-and-interest type. Our experienced mortgage brokers specialize in construction loans and can guide you through the nuances of dealing with banks, builders, and land developers.
We streamline the loan process for you, coordinating behind-the-scenes requirements so you can focus on the exciting journey of building your home.
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