Our Services

Construction Loan

Building your dream home from the ground up is a thrilling prospect, but it comes with unique financial considerations. Our team at Antloans specialises in construction loans, and we’re here to help you navigate this complex terrain. We’ll work closely with you and your builder to understand the project’s scope and budget, tailoring a loan that aligns with your construction timeline. Plus, we’ll ensure that you have access to the funds you need, precisely when you need them during each phase of construction. Let us take the stress out of building your dream home, so you can focus on watching it become a reality.

Types of Construction Loans in Australia

Home Renovation Loans

Home Renovation loans (or Home Improvement Loans) in Australia provide funding for homeowners looking to upgrade or renovate their existing properties, covering both minor cosmetic changes and major structural improvements.

Construction Loans

Construction loans are tailored for individuals or developers building new homes or properties from the ground up, offering funds throughout the construction process with staged releases based on project milestones.

Post-Construction Loans

Post-construction loans, also known as end loans, convert a construction loan into a permanent mortgage once the building project is complete, streamlining the financing process and offering stability for homeowners after construction.

Owner-Builder Construction Loans

Owner-builder Construction loans are designed for individuals who wish to act as their own builder or project manager, providing funding for construction projects where the borrower oversees the building process directly, offering greater control and potential cost savings.

Eligibility Criteria for Construction Loans

Eligibility typically hinges on factors such as credit score, income stability, and down payment capability. Additionally, approval often depends on the project’s details, including plans, builder credentials, and council approvals.

The Application Process

The process begins with obtaining council approval for your building plans, followed by submitting these plans along with your financial details to the lender for assessment. Lenders will review your financial situation, project plans, and builder qualifications before approving the loan.

Funding and Drawdown Process

Construction loans are unique as they provide funds in stages, based on construction milestones. These stages usually include the slab, frame, lock-up, fit-out, and completion stages, with funds released upon completion of each phase. This structured approach helps manage cash flow and ensures funds are used appropriately throughout the construction process.

Interest Rates and Fees

Interest rates for construction loans can be variable or fixed but tend to be higher than standard home loans due to the perceived higher risk. Fees may include upfront costs, progress payment fees, and standard charges associated with home loans.

Risks and Considerations

It’s crucial to consider potential risks such as budget overruns, construction delays, and interest rate fluctuations. Choosing a reliable builder and having a contingency plan can mitigate some of these risks.