Construction Loans

Building your dream home or investing in property can be an exciting journey, especially when you have the right financial backing. At CFC Finance, we specialise in helping Australians access Construction Loan options from banks and lenders across Australia. Whether you are embarking on a new build, considering major home renovations, or buying off the plan, our team is here to guide you through every step of the financial process. Understanding the intricacies of construction loans will empower you to make informed decisions about your property investment.

Construction loans are unique in their structure, typically characterised by progressive drawdown and instalments. This means you pay interest only on the amount drawn down, making it a cost-effective option during construction. The interest rate is a crucial factor, and we help you find competitive rates that align with your budget and financial goals. Progressive drawdown allows for progress payments to be made at various stages of your project, ensuring that your registered builder and sub-contractors like plumbers and electricians are paid promptly. These payments are often tied to a Progressive Payment Schedule and an ‘as if complete’ valuation, assessing the property’s worth at each stage of construction.

When applying for a loan with CFC Finance, you’ll benefit from a streamlined application process designed to simplify your journey. We assist you in determining the appropriate loan amount and guide you through essential steps like obtaining council plans, permits, and adhering to council regulations. It is crucial to make a plan early on, such as selecting a suitable land within your ideal location and price range. Whether you plan to demolish an existing property or commence building within a set period from the Disclosure Date, CFC Finance ensures you’re prepared for every requirement, including development applications and addressing any council restrictions.

Our construction loans offer flexible interest-only repayment options during the build phase, giving you financial breathing room until your project reaches completion. It’s important to note the potential for additional payments for Out of Contract Items not included in the original agreement. Understanding construction milestones is vital for managing expectations and ensuring your project stays on track. For those undertaking home improvements or facing unplanned expenses, a home improvement loan might be an ideal solution.

We also help manage Progressive Drawing Fees, which can arise during the project’s various stages. These fees are an essential consideration when preparing your budget. Furthermore, understanding the requirement to commence building within a set timeframe is crucial to avoid unnecessary delays or penalties.

By choosing CFC Finance, you gain access to expert advice and tailored solutions that meet your specific needs. Our commitment is to help you achieve your property goals efficiently and confidently.

To summarise, CFC Finance offers comprehensive support for Australians looking to access Construction Loan options from banks and lenders across Australia. From understanding interest rates and loan amounts to navigating the progressive drawdown process and managing construction milestones, our team is dedicated to making your construction journey as seamless as possible. Take the next step towards realising your dream property by reaching out to our team today. Let us help you build a future you're proud of.