Construction
Loans

Toowoomba’s Construction Loan Experts

Are you planning to build a new home or undertake major renovations? The world of construction loans can be complex and overwhelming. At Unlocked Finance, we’re here to make your journey from blueprint to move-in day as smooth as possible.

Why Choose Unlocked Finance for Your Construction Loan?

• Specialised Expertise: Our team of dedicated brokers and lending assistants specialise in new home financing.
• Hassle-Free Experience: We manage the complexities of construction loans, allowing you to focus on bringing your dream home to life.
  Ongoing Support: We’re with you at every stage, from initial planning to final completion.
• Tailored Solutions: We understand that every building project is unique, and we structure your loan accordingly.
• Clear Communication: We keep you informed throughout the process, explaining each step in plain language.

Understanding Construction Loans

A construction loan is different from a standard home loan:

• Progressive Drawdowns: The loan is released in stages as your build progresses, matching your builder’s payment schedule.
• Interest Savings: You only pay interest on the amount drawn down, not the full loan amount.
• Flexible Structure: Many lenders offer interest-only payments during construction, switching to principal and interest upon completion.

How Progress Payments Work

Your lender will make payments directly to your builder at key construction stages:

• Slab down or base
• Frame stage
• Lockup
• Fit-out or fixing
• Completion

These stages may vary based on your builder’s contract.

Our Construction Loan Service

Due to the complexity and ongoing support required for construction loans, we charge a fee for this specialised service. This ensures we can provide you with the dedicated attention your project needs from start to finish.