Construction Loans

Are you looking to build your new home rather than buy an existing property? Well, finding the funds to build can be a little different to your usual home loans.

Construction loans can also be used for major renovations to your existing home or to a property you have bought that needs a bit of a face lift.

Here at Centurion Home Loans, our team work with each client to understand their financial situation, borrowing capacity and sort through hundreds of loan products to find options that are suitable for your needs.

We have access to over 40 lenders, allowing our team to find you a suitable loan your bank may not be able to offer.

Construction loans usually come in the form of 5 stages:

Slab or base
The first payment is the amount that will help you lay the foundations of your property. This stage will cover the levelling of the group, plumbing and waterproofing of your foundation.

Framework
The second payment is the amount that will help you build the frame of your property. It also covers brickwork, roofing, trusses, and windows.

Lockup
The lockup amount is to help you put up the external walls, install windows and doors – ensuring your home is “lockable”.

Fit out or fixing
The fit out or fix amount will help you do the internal fittings and fixtures of your property. This amount also covers plasterboards, the part-installation of cupboards and benches, plumbing, electricity, and gutters.

Completion
Completion is your fifth and final amount. This amount is used for the conclusion of contracted items (e.g. builders, equipment), as well as any finishing touches such as plumbing, electricity, and overall cleaning.

Contact us
If you’re looking to build your home or renovate your current home, simply fill out our contact form or call us on 0459 032 372 to discuss your options.