Construction Loans
Build your dream home with confidence. From land to lock-up, we help you manage the construction loan process every step of the way.
━━ Construction LoansCONSTRUCTION LOANS AUSTRALIA
Set that dream project in motion with the best finance broker for your circumstances
- ✔Get construction finance for new buildings and renovations
- ✔Fast and simple, get the right deal today
- ✔Compare interest rates from across a panel of over 30 banks
- ✔Obtain competitive rates, fees and terms
- ✔Apply online in minutes with Stryve Finance
What To Know About Construction Loans
What are construction loans?
A construction loan is a loan taken out by a borrower to finance the construction of a new property.
The main difference between a standard mortgage and a construction loan is that with a standard mortgage, the property being purchased serves as security for the loan. With a construction loan, the property being built serves as security for the loan. This means that since there's no guarantee that the property will be finished or even sold once it's completed. Rates for construction loans are charged higher than those of regular mortgages.
Construction loans are also typically shorter-term loans than regular mortgages, because the lender wants to make sure that they're repaid before the property is completed and sold.
How construction loans work
How do construction loans work? When you take out a construction loan, the lender will typically provide you with the money in several stages as the construction progresses. This method is known as progress payments or progressive drawdown.
A construction loan can be a great option for home buyers who want to build their own home. It can also be helpful if you're buying a fixer-upper that needs some repairs or renovations before it's ready to live in. Another use for a construction loan is to finance commercial properties.
When considering a construction loan, it's important to work with a qualified lender who can help you navigate all of the options and requirements.
Benefits of construction finance
Draw down feature
You can draw down in each phase of the construction and only once you approve the inclusions and quality of workmanship.
Less interest payments
Construction loans are interest-only until the construction is completed. Interest only applies on the amount used.
Structure your loan
Additional payments into your construction loan are optimal to reduce the total loan balance. This offers convenience and flexibility.
Save
You pay a smaller stamp duty fee for a construction loan. You also have opportunities to receive grants and concessions since the government incentivises building houses as opposed to buying existing ones.
No dodgy builders
You are protected from sloppy construction and unqualified builders since lenders require licence and insurance policy. You’ll release the progress payments only every after stage completion.
Frequently Asked Questions on Construction Loans
Why work with Stryve Finance broker for your construction loan financing
From vehicles right through to equipment, we help you position yourself for success whether it’s personal and business-related.
Construction loans can be a complex and time-consuming process, so it's important to work with a mortgage broker who knows the ins and outs of construction lending.
Stryve Finance has years of experience in construction loan financing, and we can help you get the loan you need to get your project off the ground. We'll help you find a construction loan that fits your budget and timeline and answer any questions you have from start to finish.
Contact us today to learn more.
Get StartedWe offer flexible lending solutions for construction financing
Testimonials
We have worked with thousands of amazing people
"Nate and Dylan were extremely helpful in helping us secure our new home. They were easy to contact from day one, and answered any questions we had. We felt reassured at all times and are very grateful for their patience with us. I have recommended Stryve to 3 friends now who have all been successful in achieving their goals of purchasing their homes. We are so happy with the service and will definitely keep on recommending Stryve to our family and friends."
"I never had a problem with Dylan. From the start of our journey on mortgage til the very end and even with refinancing, he/they were very helpful, transparent, honest and really keen to help their clients! Highly recommended."
"On behalf of my husband and I, we would like to truly thank Dylan Bertovic for all his assistance in helping us with our new loan - approved in time before our settlement. Dylan worked above and beyond expected. He took the time to explain every step and process with us. Any questions we had, Dylan would go out of his way to ensure they were answered. He made the process stress free and ensured we got the best possible deal. We highly recommend Dylan to all our family and friends."
"Nate is great to work with, very knowledgeable, responsive and genuinely invested in helping me find the right solution. Highly recommend this firm to anyone looking for reliable, competitive and professional brokerage services."
"Dylan has not only been a longtime friend, but also the trusted mortgage broker of choice for my family. He answers the phone at all hours, communicates extensively through all steps of a sometimes-complicated process and manages my risk. He has a straight to the point approach which I appreciate. Simply gets the job done, and gets it done very quickly. Thanks for everything Dylan, you're a champion broker and a good mate."
"Nate and Dylan were the ultimate professionals in securing a home loan to help us purchase our first home! Following the purchase of our home, they have continued to provide their exceptional service and have been able to secure two rate reductions in six months! Being self-employed wasn't an issue for me as Nate knew the process back-to-front and was able to provide sound advice throughout the application process."
"It was an absolute brilliant experience with Stryve. Our first purchase was with Dylan he was always clear re: the next steps, quick to respond, never tired of questions and went over and above with communication. We went back and used him again for our next investment and the experience was just as wonderful as the first. Stryve also reviews our loans every 6 months to make sure we are getting the best rates on offer. We couldn't ask for more!"
── Blaze Real Estate
Founded by multi-award-winning agent Blaz Dejanovic, we’re a boutique agency, not another franchise. That’s what makes the Blaze experience personal and bespoke. We’re locals, not blow-ins. We live and breathe Western Sydney, we know what makes it tick.
── Anne + Benjamin Law
Anne + Benjamin Law is a team of dedicated criminal & commercial lawyers serving clients all across Australia. Our practice areas include property, murder, driving, drug and sexual offences. Recognised by our dedication, hard work and impressive achievements, you can trust our professional and qualified team.
── CQS Tax & Bookkeeping
CQS Tax & Bookkeeping was founded on the belief that our growth is based on the growth of our clients. Driven by passion to help simplify and improve our clients’ accounting and bookkeeping functions, we empower and add value to their business.