SK Finance and Home Loans
Construction Loans
Building a home comes with its own finance process. We help you understand construction lending and what to expect along the way.
About this service
Finance guidance built around your circumstances.
Building a home is different from buying an existing property. We can help you understand how construction finance works and what lenders may require.
Every borrowing situation is different. Your income, financial position, goals, property and the lender's assessment criteria can all affect the options available to you.
Our role is to help you understand the finance process, discuss your requirements and explore lending options that may be suitable for your circumstances.
Who this may be for
This service may be relevant to customers in situations such as:
- People planning to build a new home.
- People buying land before construction.
- Borrowers rebuilding or replacing a property.
- Anyone wanting to understand construction finance.
How we can help
Depending on your circumstances, we can help you understand areas such as:
- Understanding construction loan structures.
- Discussing land and construction finance.
- Explaining progress payments.
- Understanding lender requirements.
- Exploring construction loan options.
- Preparing your application.
Things to consider
Your circumstances matter.
When assessing a lending option, there are several factors that may need to be considered. The exact requirements depend on the lender and your individual circumstances.
Land purchase price.
Building contract and costs.
Your deposit and available funds.
Builder documentation.
Progress payment requirements.
The lender's construction policy.
Why work with us
A simpler way to approach your finance.
We focus on clear conversations, practical guidance and helping you understand your lending options.
A clearer understanding of construction finance.
Access to construction lending options.
Help understanding progress payments.
Support through the application process.
Our process
From conversation to next steps.
The exact process can vary depending on your circumstances, lender and finance requirements. Generally, the journey can look like this.
Discuss your plans
We talk about your land, building plans, estimated costs and finance needs.
Review your finances
We review your income, expenses, debts and available funds.
Explore your options
We discuss construction lending options available through our lender panel.
Prepare the documents
Building contracts, plans, quotes and financial documents may be required.
Lender assessment
The lender assesses your application and proposed construction against its criteria.
Progress payments
After approval, funds are generally released as construction reaches the agreed stages.
Getting prepared
Documents you may need.
The documents required will depend on your circumstances and the lender. These are examples of information that may be requested.
Identification.
Income evidence.
Land contract, where applicable.
Building contract.
Building plans and specifications.
Construction quotes and supporting documents.
Frequently asked questions
Questions about construction loans?
How does a construction loan work?+
Construction loans generally release funds progressively as building work reaches agreed stages. The exact process depends on the lender and loan structure.
Can I finance the land and construction together?+
Depending on your circumstances and the lender, finance may be structured to cover both the land purchase and construction.
Do I need a fixed-price building contract?+
Requirements vary between lenders. A lender may require a specific type of building contract and supporting documents before approving construction finance.
Let's talk
Ready to talk about your finance goals?
Start with a conversation about your goals and circumstances. We'll help you understand the next steps and the lending options that may be available to you.
Construction lending requirements vary between lenders. Building costs, contracts and finance are subject to lender assessment, criteria and approval.