Construction Loans

Have big renovation or construction ideas? We'll help find the right finance.

Getting a great rate with suitable features for a construction or renovation loan is critical for the success of your next project.

Cashflow is an important aspect of any project. The key is to understand how construction loans are structured and what you need to qualify. The lending criteria for construction loans can vary between banks and lenders, and so can the features of these different construction loans.

Constructions loans are not the same as traditional home loans. These are the major differences:

  • No lump sum payment: construction loans are financed in installments or 'draw-down' payments as you progress with the construction, as opposed to one big lump sum
  • Valuations: when you apply for a construction or renovation loan your project will be valued before, during and after – valuation frequencies can differ between banks
  • Interest: Construction and renovation loans may initially require 'interest-only' periods, depending on the lender. Plus, interest charged as 'draw-downs' or 'installments' are paid by the bank. What this means is that you don't pay interest on the entire loan until the entire loan is funded
  • Budget overruns: if you are running over budget we can help negotiate additional finance with your chosen bank or lender to avoid an incomplete project

We can help you assess how much you can borrow, even if you have bad credit. We will then find a suitable loan that will allow you to finance your construction or renovation with peace of mind.

Our teams have the knowledge and experience to source different types of construction loans and renovation loans from our panel of over 20 lenders. Our panel of lenders includes banks (both big and small), non-traditional lenders, and peer to peer lenders. This means we can help you find low rate loans that you might not see advertised.

What is a construction loan?

A construction loan or renovation loan is a funding solution that can bring a dream project to life!

Why use National Finance + Loans?

  • We can find options for big and small loans
  • We can find finance solutions for good and bad credit
  • We work with over 20 lenders (big banks, small banks, non-traditional lenders, peer to peer lenders)
  • Our teams understand how to get tough loans approved
  • We make the approval process as fast as possible for you

Get National Finance + Loans on your team. Ask questions or apply today by phone, online or in person.

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Disclaimer: Interest rate is a guide only. Payments stated are estimates only and do not include fees and charges.

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CRANLEIGHOUSE PTY LTD & WALK JOG RUN PTY LTD T/As National Finance And Loans | ABN: 99 214 040 118 | Australian Credit Licence: 494 362 © 2017