construction Home loans
With our expertise and in-depth knowledge, our goal is to simplify your land buying journey and help you navigate the complexities of finding the ideal home loan for building.
To get started on your journey towards pre-approval and securing your ideal home loan, simply fill out the form below and our team will be in touch. Get ready to take the first step towards building your dream home with the perfect home loan.
Working hand in hand to help you achieve your goals
We work hand in hand with trusted mortgage brokers who share our commitment to putting customers first. Our brokers are selected based on their expertise, authenticity, and integrity, ensuring that you receive personalised advice tailored to your needs. Further to that, our brokers are hand picked based on their knowledge and experience in the home building space and working with construction loans.
Have A Local On Your Support Team When Planning To Build
At Land In Warrnambool, we understand that everyone’s financial situation is unique. That’s why we take the time to get to know you and your specific requirements. By understanding your borrowing capacity and eligibility for grants and incentives, our selected brokers can tailor a loan package that suits your budget and goals.
CHOOSE A CONSTRUCTION LOAN AND SAVE THOUSANDS IN INTEREST REPAYMENTS
HOME LOAN OR CONSTRUCTION LOAN?
When you are building you have options for the type of loan you choose. You can have a standard home loan where you borrow the full amount of the money required to complete the whole project, or you can purchase your block of land using a home loan and get what is called a ‘construction loan’ to finance the construction of your home. There’s big advantages to using a construction loan.
When you take out a home loan to finance your entire home building project, including the land, you will generally pay both principal and interest on the full amount from the beginning. When you take out a construction loan you are advanced the funds as required for each stage of the build. The beauty of this is that you’ll only pay interest on the instalments that have already been advanced to you. This means you will save on interest repayments during construction. You’ll only be paying interest on the full amount at the end of the build, by which stage the home loan you took out for your land and the construction loan can be combined into one single home loan. And the best part is that you’ll have saved thousands in the process.