Construction & building loans
Financing a construction project is quite different from obtaining a standard home loan, and that’s where our expertise comes into play.
We start by offering a personalized service that includes a thorough assessment of your financial situation. Construction loans require meticulous planning, as they are disbursed in stages that correspond to different phases of the building process. We’ll meet with you to discuss your plans, budget, and timeline, ensuring that we can secure a loan that matches the cash flow needs of your construction project.
After gaining a clear understanding of your project, we’ll explain the various loan structures available. A construction loan typically involves a progress payment system, meaning funds are released at key milestones throughout the construction. This is where our expertise is invaluable; we help you comprehend how these drawdowns work, ensuring the necessary funds are available when your builder is ready to proceed to the next stage.
We have access to a robust network of over 50 lenders, offering a diverse range of construction loan products. Our role is to navigate these options and present you with the most competitive and suitable choices. Whether you need a loan with interest-only payments during the construction period or one that offers a line of credit for added flexibility, we have you covered.
Managing the documentation and ensuring timely payments to your builder is crucial. We assist in coordinating with the lender to make sure necessary inspections are carried out and funds are released without delay. This helps minimize any potential issues that could cause costly delays in your building schedule.
Our service doesn’t end with the settlement of your loan. We’ll stay in touch throughout the construction process, ready to offer advice or address any financial concerns that may arise. Once your home is completed, we can also assist with refinancing needs or adjustments to your loan structure, ensuring your mortgage continues to work for you in the long term.