Construction loans
Building your dream home or investment property requires a specialist construction loan. WeBroke handles the entire process.
How construction loans work
Funds are drawn down in stages (progress payments) as construction milestones are reached. You only pay interest on funds drawn.
Progress payment stages
Typical stages: slab/base, frame, lock-up, fit-out, completion. Each stage triggers a draw-down and inspection.
Fixed price contract requirement
Most lenders require a fixed price building contract from a registered builder before approving a construction loan.
Land and construction package
WeBroke can arrange combined land and construction finance, simplifying the process of buying land and building.
Converting to standard loan
Once construction is complete, the loan converts to a standard home loan. We'll ensure you're on the best rate at this point.
Owner-builder loans
Owner-builder loans are available but have stricter requirements. WeBroke has lenders who specialise in owner-builder finance.
Need expert advice on construction loans?
WeBroke's specialist brokers will assess your situation and recommend the best loan structure for your needs.
Get expert advice