Renovating.

Dreaming of that new kitchen or want to add an extra bathroom? Perhaps you’re looking to spruce up the backyard or fix that old laundry.

Sometimes choosing the right loan can be just as stressful as the renovation itself.

Depending on your loan arrangements, you may be able to borrow extra funds on your existing home loan without having to take out a new loan. Or, if you’ve been making repayments above the required amount, you may be able to redraw the extra payments.

Let 1300HomeLoan take the hassle out of financing your next renovation and allow you to put the finishing touches on your ideal home as fast as possible.

To make your dream home a reality, call 1300HomeLoan today, or email us and we’ll have a broker contact you.

Building & Construction Loans

If you’re building a new home or planning major renovations to your existing home, a construction loan is generally the most appropriate funding option. The major difference between a construction loan and a standard home loan is that in the case of a construction loan the loan is usually drawn down in stages. Payments (or drawdowns) coincide with the initial purchase of the land followed by a number of key construction stages.

This type of loan is ideal for building, as you only pay interest on the amounts you have drawn down.

Before building starts, you will need to pay a deposit to your builder as well as paying a deposit for the land if you are buying land. As work progresses you will need to make payments to the builder.

Construction loans are generally structured for progress payments to be made to the builder during the various stages of construction.

Contact 1300HomeLoan now and discuss your options.