CONSTRUCTION LOAN
A construction loan is a flexible lending option that provides funds in stages as you build, helping you manage costs and cash flow throughout your home or investment project.
Rather than receiving the full loan amount upfront, your lender will assess the total funds needed for your build and release them in stages, known as progress draws, or get the full amount in one go for your to manage your built phases.
While your home is being built, you’ll only pay interest on the funds that have been drawn down, with full principal and interest repayments starting once construction is complete and you receive the keys.
Construction loans can be a smart way to finance a new build on a vacant block while reducing interest costs during the build phase.
Lender will…
require a copy of your building plans, specifications, and a fixed-price contract from a licensed builder. While council approval is essential, it’s typically only needed when you’re ready to proceed with formal loan approval.
Whether you’re building your dream home or an investment property, we’re here to help. At Kare Brokerage, we take the time to guide you through every step, ensuring you start your build with clarity and confidence.
