The money is released in stages as construction progresses
This is known as making progress payments. It helps to monitor the build and ensure you’re only paying for completed work.
Building a home or planning a major renovation? Home building loans – also known as construction loans – are designed to help you get there.
The money is released in stages as construction progresses
This is known as making progress payments. It helps to monitor the build and ensure you’re only paying for completed work.
You only pay the interest on your loan until construction's done
You don't have to make repayments on your full loan amount during construction, which means you could have extra money handy for unexpected expenses or rent to stay somewhere while you're building.
Great for big renovations
They aren't just great for building a new home – a construction loan can be good for your next major renovation.
3.32%
p.a.
Variable rate
3.76%
p.a.
Comparison rate
Our Complete Variable Home Loan Package is great for construction – no fees apply for progress payments or valuations. Plus, you get the flexibility to add up to nine offset accounts and an eligible credit card. 1 Offset Transaction Account must be held in the same name as the loan account. Other exclusions apply. Close
Rates shown are for owner occupiers borrowing up to 90% of the property value and paying interest only until construction’s finished. For loans of $200k+. Understand the comparison rate. Construction loan rates are based on the percentage of the property value you borrow and the interest only term. Our Home Lending Specialists can tell you more about our rates.
From budgeting your costs to picking the right builder.
Benefits and things to keep in mind to help you decide if building a home is the right move for you.
Find out about your financial options and things you should consider.
It really depends on the size of the project and your budget.
Whether you're buying land or a property, check out our home buying guidance for every step.
Home insurance is essential when getting a home loan. We can arrange home insurance packages through our partner CommInsure that are tailored to your needs.
Your very own Home Lending Specialist will respond within one business day. You can talk on the phone, meet at a branch, or have a Mobile Lending Manager come to you.