Are you planning to build your dream home or renovate an existing property? At Tanti Financial Services, we understand that construction and renovation projects require specialised financing solutions. Our experienced team can help you find the ideal construction loan that aligns with your building or renovation plans.
A construction loan is specifically designed to finance the building of a new home or major renovations to an existing property. Unlike standard home loans, construction loans release funds in stages as your building project progresses. These loans can be used for:
A construction loan releases funds progressively as your build proceeds. Each stage is inspected and approved before payment is released.
The typical building stages are:
Before applying for a construction loan, you’ll typically need:
Construction loans offer unique advantages for building or renovation projects:
A construction loan might be suitable if you’re:
Our team will guide you through each phase of the construction lending process:
Our team provides specialised advice for construction and renovation financing.
When you work with our team, you benefit from:
Key Construction Loan Features:
Ready to Start Your Building Journey? Contact Tanti Financial Services today to discuss your construction loan options. Our experienced team will help you secure the right financing solution for your building or renovation project.
Progress payments are released at each completed stage of construction. After an inspection confirms the work is complete, the lender releases payment for that stage. You only pay interest on the amount drawn down.
If delays occur, you should notify your lender immediately and provide updated completion timelines. Most construction loans have a maximum timeframe for completion.
While minor changes may be possible, significant variations typically require lender approval and may need updated permits and costings.
Inspections are required at each stage of construction before progress payments are released. A final inspection is required upon completion.
During construction, you only pay interest on the amount drawn down. Most loans are interest-only during construction, converting to principal and interest upon completion.
Upon completion and final inspection, your loan typically converts to your chosen home loan structure and regular mortgage payments commence.
Note: Construction requirements and processes may vary between lenders. Please contact our team for specific advice about your situation.
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