Looking for a construction loan? Undertaking a construction can be an exciting and sometimes stressful experience. Getting your finance in order should be your first step in the process, before you start looking for land or signing a building contract to build.
Construction loans can be complex. But we can help you to gain a construction loan that is right for you, so you can save time and energy.
Not all banks have construction loans. Many construction loans allow you to draw down your payments progressively as payments are made on completion of each stage of the building. There can be a range of fees and charges such as drawdown fees, and lenders typically want to have the progress inspected with fees and charges associated with this.
After the construction phase is finished you may also be able to convert your construction loan into an ongoing owner-occupied home loan or investment home loan.
Oneleap Finance mortgage broker will go through your construction project with you and all the documents you need for the construction loan and to ascertain the best way forward.
There is a lot of house and land package in Melbourne outside suburbs, like Point Cook, Berwick, ect. In this case, the loan is similar with construction loan as both needs loan from the clients for the construction. But for the Melbourne city off the plan apartment, the developer fund the construction.
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