Fund your new build, upgrade or renovation with a Construction Loan organised by a Finance & Mortgage Broker at Savvy Home Loans
Rated 5 from 91 Reviews
Building a new home or embarking on major home renovations requires careful planning and financial consideration. At Savvy Home Loans, we specialise in helping clients access construction loan options from banks and lenders across Australia. Whether you're planning to demolish an existing property or buy off the plan, our team is here to guide you through the process. From understanding interest rates to managing progress payments, we offer a streamlined application process designed to make your dream home a reality.
When applying for a loan, it's essential to understand the various stages of the project and how construction loans work. Unlike regular home loans, construction loans are paid out in instalments, known as progressive drawdowns. This means you only pay interest on the amount drawn down, providing a cost-effective way to finance your build. Interest-only repayment options are also available during the construction period, allowing you to manage your cash flow effectively.
Choosing the right loan amount is crucial, and our experienced brokers can help you determine what fits your budget and price range. We'll assist you in making a plan that considers all aspects of the build, including council plans, permits, and any council restrictions or regulations. Additionally, our expertise extends to understanding 'as if complete' valuations and Progressive Payment Schedules. These elements are vital as they ensure you have the necessary funds available at each stage of construction to pay sub-contractors, such as plumbers and electricians.
To facilitate a smooth process, it's important to commence building within a set period from the Disclosure Date. Our brokers will guide you through securing suitable land and submitting a development application, ensuring all council regulations are met. We also advise on managing Out of Contract Items not included in the initial agreement, which may require additional payments. Understanding these aspects can prevent unexpected costs and delays.
For those considering a new build, finding the ideal location that suits your lifestyle and budget is essential. Our team will work with you to explore suitable land options that align with your vision. If you're considering major home renovations instead, we can help assess whether a construction loan or a home improvement loan is more appropriate for your needs.
As part of our commitment to simplifying the borrowing process, we offer guidance on managing construction milestones and ensuring payments align with progress. This includes understanding Progressive Drawing Fees and how they impact your overall borrowing.
Savvy Home Loans is dedicated to providing comprehensive support throughout your construction journey. By offering access to competitive construction loan options from reputable banks and lenders across Australia, we ensure you're equipped with the best possible financial solution for your project. Our team is ready to assist you with every step – from applying for a loan to finalising your dream home. Contact us today to discuss your construction plans and discover how we can help bring them to life.
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Suzy Davey
Leanne at Savvy is an experienced and extremely knowledgeable mortgage broker, always happy to help her clients understand their options.
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John White
I have just been recently divorced, and it was time for me to buy a place of my own. A very daunting process when you aren't use to doing it by yourself. I was lucky enough to have an unbelievable Real Estate Agent, Penny Finnigan who put me onto Emma as my broker, and what can I say but WOW. Emma is such a beautiful person as well as an unbelievable broker. Emma took all the daunting out of the whole process for me. Right from the very start Emma made me feel comfortable and at ease with the whole process and she delivered exactly what she said she would. She continually communicated with me and kept me up to date the whole way along, and a lot of times Emma went above and beyond what she had to do. I feel very lucky to have built such a great rapport with Emma along my journey, and I feel even luckier to have her on my side as my broker. If you want someone who is genuine through to the bone and a damn good broker as well, give Emma a call, you won't have any regrets ???? Thanks again Emma, you feel like a friend as well as my broker. I will be forever grateful ???? Warmest regards John
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Suzanne Carlton
We cannot thank Emma and Jarrad at Savvy Home Loans enough, their service was absolutely outstanding every step of the way. We tried three times with our own bank and they still couldn’t get our finance sorted but Emma and Jarrad stepped in and made it happen. They took care of everything for us and went above and beyond to make the whole process smooth, stress-free, and successful. Nothing was ever too hard; they patiently answered my countless emails with professionalism and care and went above and beyond to make the process stress-free. If you’re looking for people who truly put their clients first and deliver results, we highly recommend Savvy Home Loans-Emma and Jarrad are the best!
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Dionne Jolly
After being introduced to Leanne by my Financial Advisor Helen Baker, I cannot thank Leanne and her Savvy team Emma and Jarrod enough for their superb and personalised service in helping me secure my first home loan. The Savvy team went ...
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Greg Badrick
Great people to deal with..Emma, Leanne & Jarrad. Very efficient and obliging always contactable... I recommend them totally. Greg Badrick.
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clinton taylor
We examine an extensive selection of financial products from banks, credit unions, and lending institutions nationwide. This enables us to review thousands of available options and ensure we consistently recommend the most suitable home loans for our clients.
We love working with first-time home buyers! Our team has comprehensive expertise in the entire home buying journey and can guide you toward securing the appropriate home loan. We're also well-versed in the various programs designed to support first-time buyers, including the First Home Owners Grant and different stamp duty exemptions that may be available.
Absolutely! We're confident in our ability to locate the most competitive interest rates for your refinancing needs, whether you're dealing with a residential home loan or an investment property loan.
Every one of our mortgage brokers maintains full accreditation and holds membership with the Mortgage and Finance Association of Australia. They demonstrate the highest level of professionalism and deliver outstanding service across various lending solutions.
Our services extend beyond home loans to include investment property loans, construction financing, vehicle loans, personal loans, and numerous other lending products. If you need financing for a purchase, we can likely provide assistance.
Mortgage brokers serve as your advocate in finding the most appropriate loan from major banks, smaller financial institutions, or alternative lending sources. We offer access to a comprehensive range of products that exceeds what any individual lender can provide, allowing us to handle all the research and comparison work to identify the perfect loan solution for your specific needs.
Savvy Home Loans Pty Ltd ABN: 37 128 927 211. Leanne Pon, Derrick Pon and Emma Klingner are authorised credit representatives under Australian Credit Licence #388758..
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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