Overview

Need money to build your new home? Do you need to renovate? A construction loan may be the right solution for you.
Construction loans are a type of home loan for people who are completing major renovations to their existing home or building a new home on their existing land. Unlike a regular home loan, construction loans will not provide a lump sum at settlement as they are designed to align with the construction process, so they provide progress payments, usually directly to the builder at the building stages.