Build Your Dream Home with Confidence
At Finance Brokers Tasmania, we understand that building a new home or undertaking a major renovation is an exciting journey — but it can also feel complex when it comes to finance.
A construction loan is different from a standard home loan, and having the right broker by your side makes all the difference.
What is a Construction Loan?
A construction loan is designed to help you fund the building process in stages, rather than borrowing the full amount upfront. Instead of receiving one large sum, the lender releases funds in progress payments (called drawdowns) as each stage of your build is completed.
This means you only pay interest on the portion you’ve drawn, which can help manage cash flow during construction.
Typical Stages of Construction Loan Payments
Deposit
To get the project started
Slab/Foundations
Once the base is poured
Frame
When the framework is up
Lock-Up
Once walls, roof, and windows are installed
Fit-Out
For internal fixtures like kitchens, bathrooms, and flooring
Completion
Final funds released when your build is finished
