Home Construction Loans

Home construction loans are available for clients with clean credit and bad credit history. We do both full doc and low doc home construction loans. We also offer no doc home construction loans only with accountant letter. Client can build multiple properties on same title subject to lenders discretion. The finance group have achieved 99% approval rates for any type of mortgages in past 7 years record because:

  1. We do a complete pre-assesment of the loan application to find best possible options for the client.
  2. We obtain all related veda reports and property reports upfront to safe guard the approval of the loan.
  3. We have access to all popular lenders in mortgage industry including 10 private lenders to assist the client with their loan requirements.
  4. We have created strong relation with our lenders through approval of our loans in pas years.

Home construction loans can be a very easy process to obtain if you have clear idea about lending policy and if you are aware what you are eligible for. Shopping for loan can create adverse record on your credit history and restrict you to obtain finance in future. We we strongly recommend to have a professional advice for your loan.

CLICK HERE TO READ INDICATIVE OFFERS FOR HOME CONSTRUCTION LOANS.

Home construction loans Indicative offers:

All home construction loans rates quoted bellow are subject to changed by lender. To find the appropriate quote for your home construction loans please submit an inquiry to commence a free assessment process. All costs quoted are estimation only.

Interest rate
  • No doc construction: from 9.2% PA

No doc bank rate available up to 60% LVR for eligible borrowers.

  • Low doc land and construction loan available with combination of 3 years fixed rate and variable rate.

3Y Fixed rate from 4.99%
Variable rate available up to 1% discount for the life of the loan
Bank variable rate with discount 5.19%

  • Full doc land and construction loan available with combination of 3 years fixed rate and variable rate.

3Y Fixed rate from 4.83%
Variable rate available up to 1.1% discount for the life of the loan
Bank variable rate with discount 5.09%

Security

Standard residential security 2-4 units per title construction. For development and multiple constructions contact us to get tailored loans. Off the plan, owner builders have restriction on LVR.
submit an inquiry to commence a free assessment process for home construction loans.

Valuation

Lenders operate independent valuation of the land fixed construction contract. Bank loans usually offer first valuation for free. For non bank loans valuation is done at cost quoted to the client.

Full Doc/Low Doc/ Acc-Letter

up to 95% LVR full doc construction loans Business need to be registered for minimum of 24 months.
up to 80% LVR Low doc and No doc construction loans business need to be registered for ABN and GST minimum of 12 months.

Maximum Loan amount

Unlimited, quoted case by case basis.
Bank loans with LMi restricted to $1mil including capitalized fees per security property. Maximum exposer per client per bank is $2.5 mil

Minimum Loan amount

100,000

Credit history

Minor paid defaults considered for all type of loans case by case basis. Please submit an inquiry if you have critical credit issues.

Loan Term

2 years to 30 years

Repayment options

P&I and IO

Lenders Application fee

Bank loans Full doc and low doc application cost up to $600 application fees, For no doc loans application fee is included on risk fee.

LMI

For full doc over 80% LVR loan will require LMI
For Low doc bank loans over 60% LVR will require LMI
No doc non bank loans will require risk fee as bellow.

To read more about typical LMI policy for Low doc home Loans click here.

Click here to read more about bank loans for home loans bad credit.

Risk Fee

Single construction 1.25% of the loan amount, Multiple construction 1.5% of the loan amount.

Our Brokerage

Negotiable depending on amount of loan, amount of work and complex nature of loan requirements.
submit an inquiry to commence a free assessment process for home construction loans.

Other costs

For bank loans we account up to $3000 other cost that vary sometimes.
Other costs for non bank loans are quoted to client at cost by the lender. Legal cost, mortgage registration, documentation fees, title insurance, settlement fees altogether allow up to $3000-$4000 depending on the lender and current government rates.
Most of above we disclose on our credit quote after selecting the lender.
Some of the above are not ascertainable until the settlement agent quote for the costs.

Proof of Income

For full doc loans 2 years full financials with tax returns are mandatory. Notice of assessment is not required for some lenders.
For Low doc loans 12 consecutive months BAS's is mandatory, recent 6 months trading statements may be required.
For no doc home construction loans only accountant declaration and borrower's repayment declaration required.

Other supporting documents

Fixed construction contract with payment schedule.
Council approved plan and specifications.
Building insurance.
For development loans documentary evidence required for all costs.

More about home construction loans

We offer full doc, low doc and No Doc home construction loans through banks and private lenders. Full doc construction home loan is available up to 95% LVR through banks and non bank lenders. Depending on degree of credit impairments we help clients to select the most viable option for home construction loans with bad credit history. If you have critical credit impairment issues or multiple defaults situation, we strongly recommend to contact us for professional advice for home construction loans. Low doc construction loan is offered by very limited lenders in mortgage industry. As a result finding the best deal can become time consuming for client. We offer low doc construction loans only with accountant letter through private lending solution. For bank loan or private loans maximum LVR is 80% of the completion value of the property for low doc construction home loan. client need to come up with minimum of 20% deposit to apply for construction loan low doc basis. If you do not have your financial up to date and you are seeking for low doc home loans option, we prefer please discuss with us your actual situation that we can help you to get higher LVR loan for construction.

Sometimes when you have land you won outright and looking for construction home loan to finish the construction, your construction proposal involve some development costs we can get you tailored solutions to meet your loan requirements in out of ordinary situation.
Whatsoever is your financial situation, whatsoever is your loan requirements we request please submit an inquiry to commence a free assessment process for home construction loans.

Our track records for home construction loans :

The finance group have been helping clients in different states in Australia for past 7 years to obtain home construction loans. We have numerous clients in Sydney, Melbourne, Brisbane, Adelaide, Perth and all other state and Territories of Australia. We have resolved critical and complex financial needs of our client offering them low doc and no doc home construction loans. Clients are happy with our service because we have access to wide range of lenders for home construction loans and we give clients all alternative options they have before they make an educated decision to have a construction home loan.

From our experience we can advice that if you are looking for construction home loan we can find the most suitable solution for you according to your present financial situation and loan requirements. As we have access to 34 lenders including 10 different private lenders for home construction loans we always make sure clients get the best possible rate with minimum cost for finance. We also take full responsibility to assess and process the application and minimize all risks to get your construction home loan declined. As a result we have achieved 99% approval rate for all type of mortgages.

Sometimes short term mortgages are suitable solution for some clients other than doing a long term construction home loan. We also have access to numerous private funds to have short term mortgage solutions when it is necessary to become eligible to obtain a long term construction home loan.

Whatsoever is your financial situation, whatsoever is your loan requirements we request please submit an inquiry to commence a free assessment process for home construction loans.