Meet HER
I WANT TO BUY LAND OR
BUILD A NEW PROPERTY
Build your dream home or investment with an experienced mortgage broker by your side
Construction & building made easy!
Let’s face it, building your dream project should feel easy. And it is with us. We handle the complexities of building loans, while you focus on enjoying the process.
We provide loan solutions for buying land, building new homes, purchasing off-the-plan and house & land packages.
Securing a loan to build a home is a little different than buying an established house because often the land and building purchase will need to settle separately so we will guide you through every step from contracts to draw downs.
Building your next home is easy
Whether it’s your first time or you’ve done this before, familiarise yourself with the ins and outs of investment borrowing.
-
It all begins with a quick and easy connection. Start by taking just 5 minutes to answer a few simple questions right here. Once you’ve completed this, we’ll schedule an introductory session where we can meet either online or in person. During this session, we’ll discuss your financial goals, explore your borrowing capacity, and review your timeline and budget. This is your opportunity to connect with us and for us to understand your needs, so we can chart the best path forward together.
-
Once we understand your loan needs, we handle everything: researching and comparing over 70+ lenders, negotiating interest rates, and preparing your application for pre-approval. We provide a personalised strategy, present with competitive loan options and guide you through the entire application process, ensuring you have a clear understanding of your borrowing limits and repayment details. Did you know, an existing property can be used as equity, which means you may not need as much deposit as you first thought.
-
Once you’ve found your dream house and land. We’ll guide you through making an offer, arranging the property valuation, arranging your building and construction process to suit the lender and even deliver the champagne for settlement.
What’s different about construction?
At Her Finance, we’re experts in building. With years of experience, we’ll take the financial hurdles out of the process and protect you from issues like:
Paying higher interest rates during the construction phase.
Putting in too much deposit, so you don’t have extra cash for contingencies.
Helping you finance all the finishing touches—landscaping, driveways, air conditioning, and more—so you can move into your perfect home without compromise.
Here’s how construction loans work in 3 simple steps:
-
When applying for a loan to cover both land and construction costs, the process typically involves two separate applications. One application is for purchasing the land, while the other is for financing the construction of the home.
Usually, a lender will handle these as two distinct loans. Upon completion of the construction, the second loan will consolidate the first, resulting in a single loan covering both the land and the built property.
-
Most lenders will also require you to build on your land within two years of settlement - this does not mean you need to finish the home within the two year time frame, just that you need to start building within two years of settling on your land.
The construction of your home will generally be conducted in stages, with payments and valuation required at the end of each stage.
-
The bank or lender only charges you on the amount of money you have drawn down, therefore your minimum repayment will vary depending on which stage your home has reached. Once you've reached completion, your full mortgage repayments will start. This is also a great time to get the property revalued so we can see how your loan is performing in the market and whether we need to refinance.
Construction made simple!
Download the Ultimate Home Building Guide and gain the essential knowledge to tackle your construction project with confidence. Whether it’s securing financing, managing permits, or working with contractors, this guide provides clear, practical steps to ensure your project runs smoothly. Start building your dream home today with the expert insights and tips you need for success.
FAQs for Constructions Loans
We’ve got your questions covered!
-
Unlike a traditional mortgage, which is used to purchase an existing home, a construction loan is specifically for funding the building process. It involves two phases: the construction phase, where funds are drawn as needed, and the conversion phase, where the loan is refinanced into a permanent mortgage once construction is complete.
-
Funds from a construction loan are typically disbursed in stages, known as draws, based on the progress of the construction. As work is completed, your lender will inspect the site and release payments to cover the costs incurred up to that point. This ensures that funds are used appropriately and in accordance with the construction schedule.
-
For a construction loan, you’ll need several key documents from the builder, including a detailed construction contract outlining the scope, timeline, and costs; construction plans and specifications; proof of the builder’s license and insurance; a breakdown of estimated costs; the builder’s resume or portfolio showcasing past projects; and a project timeline or schedule. These documents help ensure the project is well-planned, the builder is qualified, and funds are disbursed accurately.
Not sure where to start?
Schedule a FREE 15-minute planning session and get your questions answered by your dedicated broker.
Backed by 100% 5 star Google Reviews
Find out why we’re the finance brokers that Aussie buyers and business owners trust.
Still have questions?
You’re not alone! Buying property or borrowing money is one of the biggest decisions you’ll make! Ask us anything, we’re here to help.
