Apply NowBuild your dream home.
We handle the finance.
Construction loans work differently to standard home loans — funds are released progressively as your home is built. Our brokers specialise in new builds, house & land packages, and knockdown rebuilds across Australia.
How funds are released — $600,000 build
Interest is charged only on funds drawn down at each stage — not the full loan amount. This keeps your repayments lower during the build.
*Indicative rate only, subject to change. Credit criteria, conditions, fees and charges apply.
Construction loan types
Whether you're building from scratch, buying a house & land package, or knocking down and rebuilding — we have the right loan structure for your project.
Construction Loan
Build from scratch
Progressive drawdown loan that releases funds at each build stage. Interest-only during construction, then converts to a standard P&I loan at completion.
- Interest-only during build
- Funds released per stage
- Inspections at each drawdown
- Converts to standard loan at completion
Owner-Builder Loan
You manage the build
Specialist finance for licensed owner-builders. Fewer lenders offer this product — your Fairbanks broker knows exactly which ones do.
- Owner-builder licence required
- Higher deposit typically needed
- Specialist lender panel
- Experienced broker guidance essential
House & Land Package
Land + build combined
Two-contract structure — one for the land, one for the build. We coordinate both settlements and ensure your finance is structured correctly from day one.
- Two-contract structure
- Land settles first
- Build contract follows
- Stamp duty savings in most states
Knockdown Rebuild
Demolish & rebuild
Already own the land? Finance the demolition and rebuild of your existing property. Retain your location while building your dream home.
- Existing land as security
- Demolition costs included
- No stamp duty on land
- Retain existing suburb & location
From pre-approval to handover
Six steps from initial approval to moving into your brand-new home.
Pre-approval
Get conditional approval before signing any building contract. Know your budget before you commit.
Sign contracts
Sign your land contract and fixed-price building contract. We review both to ensure your finance aligns.
Formal approval
Lender assesses the builder, plans, and fixed-price contract. Valuation is done on the completed value.
Land settlement
Land purchase settles. Construction loan is established and ready for progressive drawdowns.
Build begins
Builder starts construction. Funds are released at each stage after a lender inspection confirms progress.
Completion
Final drawdown released at handover. Loan converts to a standard principal & interest home loan.
What makes construction loans different?
Construction loans have unique requirements that standard home loans don't. Getting the structure right from the start avoids costly delays and lender complications mid-build.
Fixed-price building contract required
Lenders require a fixed-price contract from a registered builder. This gives them certainty about the final loan amount and completed value.
Valuation on completed value
The lender values your property on its completed value — not the current land value. This determines your maximum loan amount.
Progress inspections at each stage
Before each drawdown, the lender sends a valuer to confirm the stage is complete. This protects both you and the lender.
Interest-only during construction
You only pay interest on funds drawn down — not the full loan amount. This keeps repayments manageable while you're still paying rent or a mortgage.
Best Interests Duty
Legally required to recommend what's best for you
First Home Owner Grant available for new builds
Building a new home? You may be eligible for the FHOG — up to $30,000 in QLD, $15,000 in SA, $10,000 in NSW, VIC & WA.
Construction loan FAQs
Construction loan guides
Construction Loans: The Complete Australian Guide
Everything you need to know about construction loans — progressive drawdowns, fixed-price contracts, FHOG eligibility, and choosing the right builder.
First Home Buyer Guide: Grants, Schemes & Low Deposit Options
A complete guide to buying your first home in Australia — including the First Home Owner Grant, First Home Guarantee, and stamp duty concessions.
How Much Deposit Do You Really Need?
The minimum deposit for a construction loan, how LMI works, and strategies to get into your new build sooner with a smaller deposit.
Get pre-approved before you sign
Don't sign a building contract without knowing your borrowing capacity. Get conditional pre-approval first — it's free, takes 48 hours, and gives you the confidence to commit.