Why Get a Construction Loan?

Unlike traditional home loans, construction loans are structured to support cash flow during construction. They offer smarter repayment options such as interest only or, for some lenders, principal and interest only, which are often higher. Construction loans are drawn in stages, so you can control your repayments and save money throughout the construction period. 

They can also be structured in different ways depending on your needs, with options for shared loans such as land and house. This allows you to lock in a property at a lower interest rate and maintain development variables. Most banks that issue construction loans will advance the money to the developer; you only pay interest at each stage of the loan. You can also make additional repayments if you can afford it. No matter the size of your project, a construction loan can bring you tremendous benefits.

If you’re embarking on a new construction project, you’re likely considering a construction loan, which is distinctly different from standard home loans. No need to worry, as all our brokers specialise in construction finance. They will guide you through the sometimes confusing options to find the loan that best suits your needs.

 Key Features:

  • Optimal loan structuring
  • Management of progress payments
  • Up to 98% of loans include Lender’s Mortgage Insurance (LMI)
  • Changeover loans for transitioning from one home to another
  • Strategies to unlock equity for construction funding

Breeze Financial is dedicated to providing tailor-made loan brokerage services to homebuyers, first home builders and property developers across Australia. We put our clients’ needs at the heart of all our services, ensuring we deliver outstanding results. It’s this commitment to changing the status quo and exceeding industry expectations that has seen us quickly become one of Melbourne’s leading loan broking specialists.

We are your partner as you build your journey through the vast and complex world of finance. We work closely with you to understand your needs and goals and match you with the loan that best suits your needs. Our experts can provide you with financial advice and credit services throughout the term of your construction loan, alerting you to potential changes and ensuring you get the best possible outcome.

For more information about construction loans, schedule a consultation today and discuss your needs with our team.