Construction Loans
Use our service for the next purchase, or refinance, of your home or investment property and receive
friendly & professional service, a great loan fromyour choice of leading lenders plus a mortgage rebate!
Information on Basic Variable Interest Rate products Information on loans that have a discounted interest rate for an introductory period Information - 100% Interest Offset mortgages
Information about Standard Variable Interest Rate products Information about loans typically sought by investors Information about Interest Only loans
Information on Line of Credit 'Equity' facilities Information about loan packages with interest rate discounts Construction loan information
Commercially secured loan information Information on Fixed Interest Rate mortgages Low Document/Non Conforming loans - for those with unsubstantiated income or credit defaults

Construction - Building - Renovation loans

These loans are for the purpose of building or renovating a home when the client has insufficient equity to borrow the required funds based on the existing value of the property and requires the lender to use an 'on completion' figure when the security property is valued. A licensed builder must be contracted and a fixed price tender must be supplied as part of the application process. After the lender has conditionally approved the loan the land, tender and plans are then sent for an 'on completion' valuation to one of the lender's approved Panel Valuers.
After settlement of the loan the construction phase begins.

During the construction period...

  • There are progress payments (usually five) made by the lender to the builder, at various stages.

  • Most Construction Loans Products are on the lenders 'Standard Variable Interest Rate'.

  • During the construction period the borrower is only charged interest on whatever amount of the overall account loan limit has been released to date.

After Construction...

After construction the loan will usually either revert automatically to whichever product the client applied for or it will remain on the Standard Variable Interest Rate.
Some lenders offer a construction feature as part of their Basic Variable Interest Rate product as well where the loan is on the 'basic' rate both during, and after, settlement.

Call or email for lender's comparison rate schedules or specialised Mortgage Software generated comparisons that details relevant features of competing loan products side by side and also gives an AAPR (average annual percentage rate) which is an indication of the 'true' cost of the loan over a seven year term.

The above Construction Loan content is information only and should not be construed as financial advice.

Call Rebate now on 1300 558 835
or click here for email details.
Website use is subject to terms and conditions. Mortgage Rebates orHome Loan Refunds
mentioned or advertised on  www.rebatehomeloans.com.au are not endorsed by lenders.
Creative Administration services (BN: NSW V5440737). © 2005 All rghts reserved.

 Home page
Click here to contact rebatehomeloans.com.au
See some of the Lenders available in the Australian Home Loans, Mortgage, Market
Information about different mortgage types
Australian Real Estate information and links
Here is a scenario that shows how refinancing a mortgage with home loan rebate may benefit a client
Follow this link to find out how our Mortgage Rebate System worksFollow this link to calculate your mortgage repayments
Follow this link to calculate your borrowing capacity
Follow this link to calculate your mortgage rebate
Mortgage Broker and Industry commission's information - Website Disclaimer/Privacy Policy, Testimonials and Employment opportunity
About us - Mortgage Broker referral service

Google

WWW
This web site