Construction Loans
Turn your building plans into a reality with a construction loan
Rated 5 from 75 Reviews
Turn your building plans into a reality with a construction loan
Rated 5 from 75 Reviews
Building your dream home or embarking on a major home renovation in Perth or anywhere across Australia can be an exciting journey. However, financing such projects often requires specialised knowledge and careful planning. At Homeli Finance, we specialise in construction loans, providing you with the tools and guidance needed to access construction loan options from banks and lenders across Australia. We simplify the complexities so you can focus on turning your vision into reality.
A construction loan is unique in its structure, designed to fund your build at various stages of the project. Unlike traditional home loans, construction loans feature a progressive drawdown system. This means that funds are released in instalments as your project progresses, ensuring that you pay sub-contractors like plumbers and electricians efficiently. Importantly, you only charge interest on the amount drawn down, providing a more manageable financial commitment as your new build or renovation unfolds. Additionally, we offer interest-only repayment options during the construction phase to ease financial pressure.
The application process for a construction loan can seem complex, but our streamlined application process makes applying for a loan straightforward. We guide you through each step, from making a plan for your ideal location and price range to understanding council plans and permits. Our expertise ensures that you are well-prepared to navigate council restrictions and regulations, securing suitable land and handling development applications smoothly. We also assist in managing Out of Contract Items not included in your initial costings.
One of the key features of construction loans is the Progressive Payment Schedule, which coincides with construction milestones. This schedule is crucial for managing costs and ensuring that payments align with the ‘as if complete’ valuation of your project. Each stage requires careful coordination with your registered builder and adherence to council regulations. Whether you're demolishing an existing property for a new build or buying off the plan, our services ensure you are well-informed about each milestone, including any additional payments that may arise.
Understanding the finer details of construction loans can be vital for a successful project. For instance, most lenders require you to commence building within a set period from the Disclosure Date. This requirement demands precise planning and adherence to timelines. Our team at Homeli Finance stands ready to provide clarity on all conditions and fees associated with your loan, such as the Progressive Drawing Fee, which covers the administrative costs of releasing funds at different stages.
In essence, construction loans offer a flexible solution tailored to the unique demands of building or renovating properties. By focusing on progressive drawdowns and interest-only repayment options, they provide financial relief during the building phase. At Homeli Finance, we are committed to helping you access construction loan options from banks and lenders across Australia, ensuring that every step from planning to completion is handled with expertise.
For those in Perth and beyond looking to embark on a new build or significant home improvement project, consider how a construction loan could meet your needs. Our experienced team is ready to assist you every step of the way. Contact us today to learn more about applying for a loan and set your dream project in motion with confidence.
RS
Reza Safari
Great service and explaining each stage of the process in detail esp for the First Home buyers.
JH
Judy Hwang
I’m so glad I chose Nancy as our finance broker. She explained everything clearly, were always quick to respond, and made sure I understood every step of the process. The loan approval went smoothly thanks to their hard work and experience. I truly appreciate her patience and professionalism. Highly recommended!
SC
Shiji Chen (Rhys)
As a first-home buyer, Nancy made getting my home loan for the first time incredibly simple and stress-free. She was recommended to me by a friend, and I would happily recommend her to others as well. Fast response time, great communication, and excellent service/referral throughout.
Homeli Finance can arrange various types of home loans to suit different circumstances and property goals. These include first home buyer loans, owner-occupier mortgages, investment property loans, construction loans for building projects, and land loans. We also arrange refinancing solutions for existing borrowers looking to switch lenders or restructure their loans. Our network includes major banks, credit unions, building societies, and specialist lenders, giving us access to diverse loan products including fixed rate, variable rate, and split loan options. We can also assist with low deposit loans, loans for self-employed borrowers, and financing solutions for unique property types that might require specialist lending approaches.
In most cases we don’t charge fees for home loan applications, the bank pays us a commission based on the settled loan amount. We will charge $990 for car and personal loans upon successfully obtaining the finance.
Homeli Finance operates as a comprehensive finance and mortgage broker, connecting clients with suitable lending solutions across Australia. We work with a network of lenders to help secure home loans, refinancing options, investment property financing, and commercial lending solutions. Our brokers assess your financial situation and match you with appropriate lenders who can meet your specific requirements. We handle the application process, liaise with lenders on your behalf, and provide ongoing support throughout the settlement process. This service saves you time researching different lenders and increases your chances of loan approval by presenting your application professionally to the right financial institutions.
Homeli Finance selects lenders based on a comprehensive analysis of your financial situation, loan requirements, and individual circumstances. We consider factors including your employment type, deposit size, intended property use, and specific needs such as offset accounts or redraw facilities. Our assessment includes comparing interest rates, fees, loan features, and lender policies to identify the most suitable options. We also consider each lender's appetite for your particular scenario - some lenders prefer certain professions or property types. Rather than simply recommending the lowest rate, we focus on finding lenders whose products align with your long-term financial goals and who are likely to approve your application. We present you with options explaining the pros and cons of each recommendation.
Yes, Homeli Finance maintains relationships with clients beyond loan settlement, providing ongoing support for your mortgage needs. We conduct periodic loan reviews to ensure your current loan remains suitable as your circumstances change, and can assist with refinancing if better options become available. Our ongoing service includes helping with loan restructures, accessing additional funds through top-up loans, and advice about investment property financing as your portfolio grows. We also assist with any issues that arise with your existing lender and can facilitate switches to different loan products within the same institution or to entirely new lenders. This continuing relationship means you have professional finance support throughout your property ownership journey, not just during the initial purchase phase.
Homeli Finance ABN: 22 669 425 218, ALL RIGHT PTY LTD ABN: 22 669 425 218. Credit Representative #527964 is authorised under Australian Credit License #384704.
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
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