Construction Loans

Construction loans are a specialised product designed for residential construction projects for up to 4 dwellings depending on the lender.  The borrower will be required to provide building plans, approved permits and a fixed price building contract to the lender.  Some lenders will lend to owner builders but generally with a reduced loan amount relative to the security end value.  The lender will manage the release of the construction loan funds direct to the builder when a stage payment is requested subject to an inspection to verify the stage completion to the satisfaction of the lender.