Construction Loans

We'll help you fund your new build or renovation

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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Reviews for Savvy Home Loans

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Celeste Carson

The team at Savvy have been incredible to work with. As a first home buyer the process can be overwhelming and confusing and while the team are very busy I felt cared for every step of the way. They are in constant communication to help get what you need over the line and the systems that have been setup make the process of uploading docs etc very smooth. I couldn’t recommend the team highly enough. Thank you so much for making one of the most important financial decisions of my life not only seem possible but an actual reality!

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clifford sharp

We have been dealing with Leanne and Derick since 2004 when we bought our first home . We haven't needed to anybody else for our financial needs. We have bought cars, vans and trucks using their financial expertise, getting really great deals. I have never seen anyone put so much energy into getting you the Best deal they can as quick as they can. Highly recommend them to anybody, and do frequently.

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Paul Knight

We had an outstanding experience working with Savvy Home Loans. From the first phone call, they were professional, knowledgeable, and incredibly easy to deal with. They took the time to understand exactly what we were hoping to achieve and came back with options that suited our budget and long-term plans. What impressed us most was how proactive they were - constantly keeping us updated, answering questions quickly, and making sure every step was straight forward. Thanks to Emma and Jarrad, the whole process was faster and smoother than we expected. I'd recommend them without hesitation to anyone looking for a reliable and genuinely helpful home loan broker. Excellent service from start to finish!

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Heidi Knight

Working with Emma and Jarrad at Savvy Home Loans was an absolute pleasure! From start to finish, they made the entire refinancing process smooth, stress-free, and easy to understand. They took the time to explain all our options, answered every question with patience, and truly went above and beyond to find the best solution all in just over a week turnaround! Their communication was fantastic and we always felt informed and supported. What really stood out was their genuine care and professionalism. We can't recommend Emma, Jarrad and Leanne highly enough. If you're looking for a knowledgeable, trustworthy, and friendly home loan broker, this is the one! Thank you for making this experience exceptional.

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clinton taylor

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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 ...

Frequently Asked Questions

What interest rates are available through your services?

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.

Do you assist first-time home buyers?

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.

Do you provide refinancing services for current mortgages?

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.

Do your mortgage brokers hold proper licensing and accreditation?

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.

Is your assistance limited to home loans only?

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.

What are the benefits of working with a mortgage broker?

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.