American First Loans is a part of Australia’s largest home builder, the BGC Group, and has helped tens of thousands of clients obtain finance to build their new home.
A construction home loan is typically a variable rate loan that is used for constructing a new home or renovating an existing one. The builder presents a progress payment to the bank as each stage of the home is completed, which increases the amount of the loan and monthly repayment accordingly. Repayments are generally interest-only during the construction period, with repayments converting to principal and interest on completion of the home.
Our Mortgage Brokers have extensive experience in the field of construction home loans and are therefore well-placed to educate you on the requirements of the bank, builder and land developer. We know the building process intimately, and we take the hard work out of the home loan process and coordinate what is needed behind the scenes, so you can concentrate on the enjoyable parts of building your home.