Construction Loans | Mortgage Broker in Sale, Traralgon and across Gippsland

For many people building their own, custom home is the ultimate dream. To do that, you will probably require a construction loan, which is bit different from a traditional home loan. As your mobile Mortgage Broker in Sale & wider Gippsland, I'm on hand to find a construction loan to suit your next big dream project.

How does a construction loan work?

A construction loan is tailored to the building process, allowing the borrower to make 'progress payments' to the builder as the build progresses. That means that as the borrower, you will only be charged interest on the funds used so far, instead of the full amount. This can save you money during the build, funds you can put towards the project instead.

Unlike a traditional mortgage where you pay principal and interest, a construction loan is an interest-only loan until the building process is finalised, after which the loan reverts to a principal and interest loan.

Here's how I can help with your construction loan

Getting a construction loan can take time, but securing the right one will pay dividends in the long run as your build your new home. As your local Mortgage Broker in Sale I know exactly what we need to consider and where to find a competitive construction loan.

• I put together a loan strategy that takes into consideration all the details of your brand new build. I'll talk you through what we need from your builder and what you budget will be.
• I research construction loans available from over 35 lenders - including a wide range of specialist lenders - all with a range of competitive options and interest rates.
• I coordinate the process, putting together the documentation (like your building contract and plans) and a strong application. I do the heavy lifting required on the loan to get it through to settlement.
• I work out if you're eligible for any grants for building your new home. If you are first home buyer, you could benefit from Government schemes like the First Home Owners Grant, which is doubled for new regional homes.
• My home loan service is free, because the lender pays me a commission when your construction loan settles. It means you have support on the construction journey at no cost to you.

What my construction loan clients in Gippsland are saying:

"Our experience with Dane in Sale & Traralgon was great. The process was easy and straight forward and we found Dane really helpful right throughout. Thanks Dane. Will definitely recommend to others!" [Brooke Martin, Warragul]

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Let's chat about your next step

The right finance behind your house build or renovation can reduce interest and help it work better for you in the long run.