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Construction Home Loans

Construction Home Loans

A Construction loan most ordinarily has progress payments. That is, you draw down the home loan (or increment you’re acquiring) as expected to pay for the construction via progress payments. A construction loan will for the most part be interest-only over the initial 12 months and afterward return to a standard variable rate home loan.

Rather than settling the entire loan amount, the loan is drawn down in stages. There are generally 5 stages that require a progress payment. These stages are:

  1. Slab / base payment
  2. Frame Stage
  3. Lockup stage
  4. Fitout/Fixing
  5. Completion

During this time you will receive invoices from your builders in which you will provide to your lender.

To discuss construction loans further please contact us.


Your Home Your Mortgage:
A Home Buyers Guide

Your Mortgage Your Options:
A Home Owners Guide To Refinancing



From the moment you turn the key in the lock and take those first few steps through your new front door, the feeling of owning your own home is second to none.

Your Home Your Mortgage aims to arm home buyers and investors with essential know-how and proven techniques to ensure you avoid the common pitfalls of financing a property.


There’s no question the current mortgage environment is one of the most competitive in our nation’s history.

Refinancing provides Australians with a platform to get a better deal on their current mortgage, many of which may have been locked in some years ago at interest rates well above what’s on offer in today’s competitive market.



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Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Before making any decision in relation to a Better Choice product, you should read the relevant disclosure document. All rates and fees quoted in our products are indicative only and can change dependent on your personal circumstances. Conditions and fees apply.

Comparison rate is based on a loan of $150,000 principal over a 25 year term. WARNING: The Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan.

Better Choice Home Loans Pty Ltd & Better Choice Commercial (a division of Better Choice Home Loans Pty Ltd) 2000- ABN 79 095 728 868 | Australian Credit Licence 378333