Construction Loans

Dreaming of building or renovating your ideal home? Our personalised construction loan solutions are designed to make your vision a reality. At Ferns Finance, we do all the legwork to match your specific needs to the right loan, saving you time, stress, and hassle.

Build your dream home with confidence

Personalised Lending Solutions for Your Construction Project

Building your own home from scratch or embarking on a major renovation is an incredibly exciting journey. However, securing the right finance for a construction project is a little different than buying an established house. It requires a specialised approach to ensure your funding aligns perfectly with your building timeline and payment schedule.

At Ferns Finance, we are experts in navigating the intricacies of construction loans for clients throughout Beenleigh, Logan, Scenic Rim, and the Gold Coast. We provide loan solutions for:

  • Buying Land: Secure finance for your perfect block of land.
  • Building New Homes: Fund the construction of your custom-built dream home.
  • Purchasing Off-the-Plan: Finance your future property before it's even built.
  • House & Land Packages: Streamline the process of buying both the land and the build with a single solution.
  • Major Renovations: Obtain funding for significant structural changes or extensions to your existing home.

The Construction Loan Process: Simplified by Ferns Finance

Securing a loan to build a home is unique because the land and building purchase often need to settle separately, and funds are released in stages. We do all the legwork to match your needs to the right construction loan, saving you time, stress, and hassle.

  1. The Application Stage:To accommodate the staged nature of building, your lender will typically manage your initial loan as two separate but simultaneous applications – one for the land purchase and the second for the completed house and land cost. The second application will ultimately consolidate and replace the first loan, leaving you with just one comprehensive loan.
  2. The Construction Stage:Most lenders will require you to start building on your land within a specified timeframe (often two years) of settlement – this doesn't mean you need to finish the home within this timeframe, just that you need to commence construction. The construction of your home will generally be conducted in stages (e.g., slab, frame, lock-up, fix-out, completion), with payments required from your loan at the end of each completed stage. Your broker assists with these progress payments.
  3. The Repayment Stage:A key benefit of construction loans is that the bank or lender only charges you interest on the amount of money you have actually drawn down to pay your builder. Therefore, your minimum repayment will vary, gradually increasing as your home progresses through each stage of construction. While most construction loans have a variable interest rate, there are some available that operate as fixed-rate loans. If you opt for a fixed rate construction loan, you might have one rate on your land loan and a second rate on your construction loan.

Why Choose Ferns Finance for Your Construction Loan?

We leverage our relationships with over 60 banks and lenders to find the most competitive rates and flexible terms for your building project. We understand the specific requirements for construction finance in the Beenleigh, Logan, Scenic Rim, and Gold Coast regions, and we're committed to making your journey to a new home as smooth and successful as possible.

Don't let the complexities of construction finance overwhelm you. Talk to us today about your plans, and let us help you lay the financial foundation for your dream home.

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Helpful calculators.

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Interest-Only Mortgage Calculator | Compare Payments & True Cost

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Frequently asked questions.

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How to choose a finance broker?

Choosing a finance broker involves several key considerations:

  • Experience: Look for brokers with a proven track record in the industry.
  • Reputation: Research reviews and testimonials from previous clients to gauge their reliability.
  • Services Offered: Ensure the broker provides the specific services you need, whether it's mortgages, personal loans, or business financing.

Taking the time to choose the right broker can lead to a more successful borrowing experience.

What are the benefits of using a finance broker?

Using a finance broker offers several benefits, including:

  • Access to Multiple Lenders: Brokers have relationships with various lenders, giving clients access to a wider range of financial products.
  • Expertise: Brokers are knowledgeable about the finance industry and can provide valuable advice tailored to individual circumstances.
  • Time-Saving: Brokers handle the paperwork and negotiations, saving clients time and effort.

Overall, finance brokers can simplify the borrowing process and help clients make informed decisions.

What documents do I need for a finance broker?

When working with a finance broker, you'll typically need to provide several documents, including:

  • Proof of Identity: A government-issued ID, such as a passport or driver's license.
  • Income Verification: Recent pay stubs or tax returns to demonstrate your financial stability.
  • Credit History: Brokers may request your credit report to assess your borrowing eligibility.

Having these documents ready can streamline the process and help your broker find suitable options for you.

What government grants are available for first-home buyers in Queensland?

As of now, eligible first-home buyers in QLD can access the First Home Owner Grant and possibly stamp duty concessions. We’ll check your eligibility and help with the paperwork.

What is a finance broker?

A finance broker is a professional who acts as an intermediary between clients and lenders. They help individuals and businesses secure loans, mortgages, and other financial products. By leveraging their knowledge of the market, finance brokers can find the best deals tailored to their clients' needs.

Finance brokers are particularly useful for those who may not have the time or expertise to navigate the complex world of finance on their own. They provide valuable insights and guidance throughout the borrowing process.

What is the process of working with a finance broker?

The process of working with a finance broker typically involves the following steps:

  1. Initial Consultation: Discuss your financial needs and goals with the broker.
  2. Document Submission: Provide necessary documents for assessment.
  3. Loan Options: The broker will present suitable loan options based on your profile.
  4. Application Process: The broker will assist you in completing the application and submitting it to the lender.

This structured approach ensures that you receive personalised service throughout the borrowing process.

Talk to us today about your options.

Talk to us today about your options. Whether you're in Beenleigh, Logan, Scenic Rim, or on the Gold Coast, Gwen @ Ferns Finance is ready to provide expert, straightforward advice.

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