Construction Loans

Planning and building your own home is a dream for many but constructing a new home comes with a whole range of important decisions and we’re not talking about the décor decisions…

We are talking about loan and payment decisions. Before you start planning your dream home, it’s important to find out your borrowing capacity and loan options. Whilst that may sound easy, finding a loan that aligns with your plans can be daunting and, at times, stressful.

At Marsden Loans, we work with you to understand your building plans, your borrowing capacity and narrow down your loan options. Our team of experienced mortgages brokers have access to over 40 lenders, allowing us to find more suitable products than just your major bank.

So, what is a construction loan?
Finance options for building a new home are different from buying an established home. A construction loan is a specialised lending option for builders or renovators to help you through the process.

Unlike home loans, you don’t receive a lump sum loan amount at settlement. Construction loans are paid out on 5 progress payments at different stages of construction.

The five progress payments including slabs poured, frame up, brickwork complete, lock up and practical completion.

How we can help you
If you’re building your dream home or renovating your current home, a construction loan may be the way to go.

Our team can help you understand the various loan options and work with you to find one that suits your needs. If you would like more information on construction loans, contact us on 0402 313 164 to speak about your options.