Construction loans | Doncaster, Templestowe and Bulleen
Construction loans in Doncaster and the surrounds
When you can’t find your dream home on the market, or you have the perfect piece of land but the house on it isn’t quite right for your family, a construction loan might be just what you need. Building, or even substantially renovating, your home can ensure that it perfectly fits your needs as well as suiting your aesthetic preferences. And one way to get there is with a construction loan. As your mortgage broker, Sam can help you find just the right construction loan for your situation, so that you can focus on designing and building your dream home.
How does a construction loan work?
When you take out a construction loan, it operates slightly differently to a standard residential home loan. Instead of the full loan amount being paid by your lender upon purchase, the money is gradually ‘drawn down’ to pay for each stage of the build process as it happens. This means that, because you only pay interest on money that has been used, your initial repayments will be kept low. Your loan application requirements will also be different, as you may need to supply information like council plans and building approvals. If you’re feeling lost about the construction loan process, speak to Sam as soon as possible - he will guide you through it so that you can reach your goals.
Why should you partner with a mortgage broker?
When Sam is your mortgage broker for your Doncaster construction loan, you can be sure that you are getting the best support and guidance for your journey. It’s vital to understand the differences between a standard loan and a construction loan before you move ahead with your building plans, so make sure you speak with a mortgage broker you can trust, like Sam, for all the best information and advice.
Free home loan guides
To learn about construction loans, refinancing, upgrading and more, download our free selection of guides.
Call Sam Nemati on 0403 806 812 to start your construction loan journey
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