Construction Loans for New Builds & Knockdown Rebuilds
Looking at building your dream home? We would love to help!
Based in Sydney's Hills District and helping clients right across Australia, we make construction loans simple.We can help you understand what documentation is required, what your borrowing capacity is and what your repayments will be when you do proceed. Our experts will explain all the other costs associated with getting a construction loan including stamp-duty, settlement fees and LMI (lenders mortgage insurance) if applicable.
We have access to over 40 lenders, including all the major banks, allowing us to secure a competitive loan package tailored to your needs.
Speak to our team of professionals and let them help you make your dream home a reality.
How a Construction Loan Differs From a Standard Home LoanConstruction loans don’t release all your funds at once. Instead, the loan is drawn down in stages — known as progress payments — that line up with the key phases of your build, such as the slab, frame, lockup, fitout and completion. Your lender releases each payment as that stage is finished, often after a valuer confirms the work, so you only pay interest on the portion of the loan that has actually been drawn. This staged structure helps keep your repayments lower during the build.
Interest During Construction and the Move to RepaymentsDuring the building phase, most construction loans are interest-only on the funds drawn so far, which helps manage cash flow while you may also be paying rent or an existing mortgage. Once the build is complete and the final progress payment is made, the loan typically converts to a standard principal-and-interest home loan. We can walk you through how this transition works and what to expect at each stage.
What You’ll Generally Need to ApplyLenders assessing a construction loan usually want to see a fixed-price building contract with a licensed builder, council-approved plans and permits, builder’s insurance details, and a breakdown of the progress-payment schedule. Having these documents ready can make the process smoother. We can help you understand what each lender on our panel of over 40 requires and prepare your application accordingly.
SB finance does not offer personal advice and aims to provide information which is factual and in-line with lenders requirements and a customers best interest. We encourage you to seek independent legal and financial advice before proceeding. our credit guide and Privacy disclosure is available on our website.
Competitive Options
With access to over 40 lenders, we compare the market to find a finance option suited to your situation. Terms and conditions, fees and eligibility criteria apply.
Loan Deals
Talk to our team about the options available across property, asset and personal finance. We'll explain how each could suit your needs.
Quick Application
Our Application process is straight-forward and hassle free. We pride ourselves in being responsive and prompt with processing your application!
Personalised Service
Here at SB Finance we treat everybody like one of the family. We pay attention to the detail and make sure we offer nothing but first class service tailored to your needs!
CONTACT US
Let’s talk finance
Whether you have questions or inquiries about our services, we’re here to assist you every step of the way.
Frequently Asked Questions
Yes, at SB Finance we have several loan options that can assist with purchasing your first home. Speak to one of our team today to discuss how we can help you get a loan to suit you. We offer a free consultation to discuss your requirements and will guide you through the process of what is required to apply.
Yes! With access to over 40 of Australia’s largest lenders, we do have lenders on our panel that will consider bad credit or defaults subject to the application. Speak with our team to find out more!
With such a large panel of lenders to choose from No Deposit(subject to application and lender guidelines). The most common deposit amount required would generally range between 10%-20% depending on the lender.
LMI stands for Lenders Mortgage Insurance and is designed to provide lenders with an additional level of protection in the event the borrower defaults (doesn’t repay) the loan.
LMI can be avoided with a deposit as per lenders guidelines (usually 20%) or a guarantor going on the loan. Speak with our team and they can discuss the guidelines around LMI.
Stamp duty is a tax levied by state or territory governments on certain purchases, including buying a home, land or investment property. The amount of stamp duty charged varies depending on where the transaction takes place and the value of the property. Each state and territory has its own fee schedule, so you need to check with your local revenue office. If you are a first If you’re buying your first home you might not have to pay stamp duty if you are eligible for the state-based First Home Owners Grant.
There are several ways you can apply, all of which are simple. you can contact us on 1300 172 346 or email info@sbfin.com.au to speak with our team. alternatively, you can speak to us via any of our social media platforms or fill in the quick quote form on our page and we can reach out to you.