Easy construction loans with emoney

You’re planning to build a new home and now you need to find the right home loan. Construction loans work a little differently to existing property home loans, to protect you financially as your new home is built. Funds are released progressively instead of in a lump sum at settlement. Your builder is paid at the end of each construction stage once the work has been inspected and approved.

How do construction loans work?

Construction funds are released once your home loan has been formally approved and construction commences.
Progressive payments are made at intervals to coincide with the five stages of construction. These are typically the deposit, base, frame, lock up, fit-out and final completion stages. 

The benefit of progressive payments is that you only pay interest on the portion of the loan that has been paid out. These can be made on an interest-only or principal and interest basis. Speak to your emoney lending specialist about which type of interest structure you require.

Progressive drawdown stages

Stage 1

Stage 2

Stage 3

Stage 4
Lock up

Stage 5

Want to know more about Construction loans?
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