Found the perfect block of land to build your family home? It might be time you consider looking into a construction loan. Building your family home is a delightful and fun experience, but construction finance is unlike a standard home loan and the processes can be confusing.
We are here to guide you in every step of the process, from sourcing the right loan for you to even helping you pick out the colour of your living room.
When should you consider a construction loan?
- If you currently own a house and lot or you are planning to acquire land and build a house on it.
- If you are planning to have a major renovation on your existing home.
- If you are an investor that wants to finance a construction of a residential project.
How do construction loans work?
- Base Stage
- Frame Stage
- Enclosed Stage
- Fixing Stage (roof)
- Practical Completion (lock up)
What you should start preparing for the loan application:
- A fixed price building contract, including all the components of the construction.
- A copy of the council approved plans and specifications.
- A copy of your builder’s license.
- A copy of your builder’s insurance policy.
Why Choose The Bare Broker?
- We do the hard work for you...
- We have access to a comprehensive panel of lenders...
- We make sure the finance suits you rather than the bank...
- We care...