Construction Loans
Building a new home is an exciting journey, and Resi Lending Solutions is here to make it as streamlined as possible with tailored solution with construction loans and knock-down rebuild options.
Here are some questions you should take into consideration as you navigate the loan process:
- What kind of loan is right for this project?
- What is the difference between a construction loan, bridging finance and a traditional mortgage?
- How much deposit do I need for a construction loan?
- How does construction stage claims work?
- Are the interest rates for construction loans different?
- How do I know if I qualify for a construction loan?
- How long does the approval process take for a construction loan?
- What happens if construction costs go over budget?
- Can I make changes to my plans during construction without affecting my loan?
- What happens if the construction is delayed?
Whether you’re building a new home from the ground up or demolishing an existing property, the process can feel overwhelming. However, with the right guidance and clear communication, these challenges can be managed effectively. From initial approval to final payment, you'll receive support at every stage, with funding released (with your approval) on time as construction progresses.
A growing area of interest in construction loans is prefabricated construction projects. Prefabricated (prefab) homes are partially or fully constructed in a factory before being transported to their final location, where they are assembled and connected to utilities. This category includes modular homes, kit homes, and the increasingly popular panelised homes. Prefab homes offer a faster construction timeline compared to traditional building methods, thanks to the controlled environment in which they are built.
At Resi Lending Solutions, we help you navigate the complexities of construction loans with confidence.
Ready to move forward or have questions? Get in touch today for personalised advice tailored to your needs!
