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for life.

My first home

Construction loans

Did you know that less than 8% of all home loans are construction finance loans? At Resolve Finance, over 80% of the home loans we write are construction loans, making us the specialists in the field. In fact, we’ve financed over 27,000 construction home loans since the company began in 1997.

Not only that, our business offers you the perfect one-stop-shop for all your home finance needs. We can handle your settlement process, your home and contents insurance, and ongoing care of your loan and financial future.

When you have the Resolve Finance team on your side, you can relax knowing a professional with specialised construction experience is on your side, making the whole process as easy as possible for you.

Construction Home Loans are very different to a standard home loan. There are additional steps to the process that may appear difficult or confusing, and it’s easy to feel overwhelmed.


The key differences with a Construction Home Loan:


1. How the loan is created:

When you’re building a new home, there are two ways the loan may be set up by your broker. The first is separate loans for the land and for the build itself, which may be combined once the home is complete. The other way is as a home and land package where both the land and home building components are combined into a single loan.


2. The way your loan works and repayments:

With a standard home loan, you may begin paying the full amount owing on the home loan as soon as you settle. With a construction loan, you may pay interest only on the land amount when you settle. The repayments then increase in stages as your home is built (called Progress Stages). The loan usually converts to principle and interest on completion.


3. Finance approval timeframes:

Given the length of time it takes to gain title release on land and build a new home, the finance approval process for a construction home loan may be longer than for an established home. It’s important to work closely with your broker during this time so that any changes to your situation are taken into account, to make sure the loan is still right for you.


If you are dealing with someone without this specialised knowledge and a thorough understanding of your situation, these key differences could mean big issues and delays in your finance and building process. At Resolve Finance, our understanding of the construction financing process is second to none.  We know precisely what’s required, and work closely with both your builder and any other parties for you to ensure that the whole process happens smoothly with no unnecessary holdups. This means you get into your new home sooner, so you can enjoy your new lifestyle!


To get started, get in touch with our team in Perth or Melbourne on 1300 883 292 or send us enquiry today.