Building your dream home? Let’s talk financing!

There are two main options for financing your new construction project:

Completion Mortgage: This lump sum payment is issued once construction is 100% complete.

Progress Draw Mortgage: This option provides you with funds as construction progresses, typically based on predetermined milestones.

Financing options to fit your project:

Loan-to-Value (LTV) up to 95%: This covers the combined cost of land and construction.

Builders vs. Self-Build: We offer financing for projects handled by a new home warranty builder or for those who want to tackle the challenge of self-building (approval subject to experience and skills).

Understanding progress draw payments:

Interest: Some lenders charge the mortgage rate as funds are drawn, while others have a temporary construction rate that converts to your fixed rate upon completion.

Fees: Some lenders offer a one-time fee that covers draw processing, while others require separate payments for inspections and legal fees at each draw.

Be prepared for contingencies:

Most lenders require a buffer of around 10% of the total cost to cover unexpected expenses or cost overruns.

Ready to build your dream?

Contact us today to discuss your financing options and find the perfect fit for your new construction project!