Construction and house-and-land loans
Building in Marsden Park, Box Hill, Schofields or anywhere else? Loans that release funds in stages as your build progresses.
Construction loans work differently from a standard home loan. The lender pays your builder in stages, called progress payments, and you usually pay interest only on the amount drawn so far.
With so many new estates across north-west Sydney, getting the structure right from the start saves stress later. Ram checks your builder's contract against what the lender needs before you sign.
Who this suits
- House-and-land package buyers
- Knock-down rebuilds
- Owners building a granny flat or duplex
What Ram helps with
- Land loans and construction loans set up together
- Reviewing the build contract and payment schedule with lender requirements in mind
- Managing each progress payment request
- Planning for costs that often get missed, such as landscaping and driveways
Documents to have ready
You don't need everything for the first chat, but having these handy speeds things up.
- Signed or draft building contract
- Plans and specifications
- Land contract
- Income documents
Questions about construction loans
Interest is usually charged only on the funds released so far, so repayments start small and grow as the build progresses. Full principal-and-interest repayments normally begin once construction is complete.
Variations can mean you need more funds. We plan a buffer where possible and talk to the lender early if costs change.
Guides on construction loans
NSW first home buyer stamp duty: exemptions, concessions and the $10,000 grant
3 minute read
Building and renovatingBuying a house-and-land package in Marsden Park, Schofields or Box Hill
3 minute read
Building and renovatingKnock-down rebuilds and granny flats in Seven Hills, Toongabbie and Lalor Park
3 minute read
Talk it through with Ram
A free, no-obligation conversation about where you are now and what you're planning. No credit check, no pressure.