Build your dream home with low rate construction loans.
Turning your vision of a dream home into reality requires the right financial support. At BE Astute, we specialise in construction loans designed to help you finance the build of your new home seamlessly. Our experienced mortgage brokers are here to guide you through every stage of the construction process, ensuring you have access to the funds you need at each milestone.
With our personalised service and extensive lender network, we’ll help you secure a construction loan that aligns perfectly with your building plans, so you can focus on creating the home you’ve always wanted.
Tailored loan solutions for your build
Every construction project is unique, and at BE Astute, we recognise that your loan should reflect your specific needs. Our brokers work closely with you to tailor a loan structure that aligns with your construction timeline and budget, ensuring you have the right financing at every stage of your project.
Progressive drawdown payments
Our construction loans offer progressive drawdown payments, meaning you can access funds as your build progresses. This helps manage your cash flow effectively, ensuring you can pay contractors and suppliers without financial stress, allowing for a smoother construction process.
Expert guidance throughout the process
Navigating the intricacies of a construction loan can be complex, but you don’t have to do it alone. Our knowledgeable mortgage brokers provide clear, transparent guidance from start to finish, helping you understand each step and making informed decisions. We’re committed to supporting you throughout your building journey.
Construction loans are your blueprint for success
Applying for a construction loan has never been easier
As your trusted mortgage broker, we take pride in offering expert guidance, a vast network of reputable lenders, and personalised first home loan solutions tailored to your needs.
Explore construction loan options online
Embark on your financial journey by visiting BE Astute’s user-friendly website. Here, you’ll find a comprehensive array of construction loan options tailored to your specific circumstances. Our intuitive interface allows you to effortlessly browse through the range of construction loan offerings, each accompanied by detailed information about loan amounts, interest rates, and repayment periods. You’re in control – take the time to compare options and identify the loan that best aligns with your requirements and budget.
Connect with our brokers
Getting started with your construction loan is simple. Once you’ve made an enquiry, our experienced mortgage brokers will connect with you for a personalised consultation.
During this session, we’ll discuss your financial goals, current loan terms, and any concerns you may have. This is your opportunity to ask questions and receive tailored advice from professionals who are focused on finding the right solution for you.
We pride ourselves on transparency, ensuring that you fully understand your options as we begin working to secure the best home loan deal to match your needs.
Get approved and funded fast
At BE Asute, we recognise the urgency of your financial needs. Our streamlined process ensures that once your application is submitted, our team promptly reviews and assesses your details. Our goal is to provide you with a quick response, often within a short timeframe. Once approved, the funds are swiftly transferred to your designated bank account. This enables you to address your financial requirements without unnecessary delays, giving you the peace of mind you deserve.
What makes our mortgage brokers your preferred partners?
Ready to start building your dream home?
At BE Astute, we’re here to make the construction loan process as straightforward and stress-free as possible. Contact our expert mortgage brokers today to discuss your building plans and discover how we can help you secure the financing you need. Call us now or fill out our online enquiry form to get started on your journey to homeownership!
Questions about construction loans? We’ve got answers!
What is a construction loan, and how does it work?
A construction loan is a short-term loan used to finance the building or renovation of a home. Unlike a standard home loan, funds are released in stages as the construction progresses, allowing you to pay for the project in phases. At BE Astute, we help manage the entire loan process, ensuring smooth cash flow from start to finish.
How do construction loan progress payments work?
Progress payments are made at various stages of construction, such as the foundation, framing, and completion stages. Your builder submits invoices, and the lender releases funds to cover each phase. Our team at BE Astute ensures the payment schedule is set up correctly and liaises with your builder and lender to keep everything on track.
How much deposit do I need for a construction loan?
Typically, you’ll need a deposit of at least 5-20% of the total construction cost, depending on the lender and your financial situation. Government grants or schemes may help reduce the deposit needed. We assess your eligibility and guide you on how much deposit is required to secure your construction loan.
What is the difference between a construction loan and a traditional home loan?
The key difference is that construction loans provide funds progressively as the building work is completed, while standard home loans give you a lump sum upfront. Additionally, you only pay interest on the amount drawn down during construction. Our brokers help you understand which option is best suited for your needs and project.
Can I use a construction loan for renovations?
Yes, construction loans can be used for major renovations or extensions. The process works similarly to new builds, with funds released in stages as the work progresses. At BE Astute, we help you secure the right loan for your renovation, ensuring the project is financed smoothly and without unexpected delays.
How is the interest calculated on a construction loan?
Interest is typically charged only on the amount drawn down, not the full loan amount. This means you’re only paying interest on the funds used as each stage of the build is completed. Once construction is finished, the loan is usually converted into a standard home loan. We assist in choosing the right structure to keep costs manageable during and after construction.
How do I qualify for a construction loan?
To qualify, you’ll need a solid construction plan, a licensed builder, and proof of income to demonstrate your ability to repay the loan. Lenders will also want to review the building contract and plans. Our brokers simplify the qualification process, guiding you through the necessary paperwork and liaising with lenders to ensure you meet their criteria.
What are the risks associated with construction loans?
Construction loans carry certain risks, such as construction delays, cost overruns, or changes in property value during the build. We help you prepare for these potential issues by ensuring a well-structured loan and working closely with your builder and lender to mitigate risks throughout the project.
How long does it take to get a construction loan approved?
The approval process for a construction loan can take 2-4 weeks, depending on your lender and the complexity of the project. At BE Astute, we streamline the approval process by managing all the documentation and liaising with the lender to get your loan approved as quickly and efficiently as possible.
What happens after the construction is completed?
Once construction is completed, your loan will typically convert to a standard home loan, with regular repayments covering both principal and interest. At BE Astute, we ensure a smooth transition from the construction phase to a long-term loan, securing the best possible terms for your financial future.