A construction loan, as the name suggests, is specifically intended for individuals who are constructing a new home instead of
purchasing an already built property. Unlike a conventional home loan, a construction loan encompasses the costs associated with the
building process, which will be elaborated on later. As a result, construction loans typically involve interest-only payments since the
property or "principal" does not yet exist. This feature not only keeps the repayments affordable but also aligns with the
ongoing construction of your home.
Have a chat with our lending team to help you secure the funding you need to build your dream.