Construction Loans

Construction loans and development financing — build your future with Universal Finance Corporation

Whether you’re building your dream home from scratch or preparing for some drastic property renovations, you need the right financial support. Universal Finance Corporation can help you bring your property aspirations to life with a competitive construction loan. We compare construction loan rates on your behalf to ensure you receive the best construction loan in Australia for your needs. 

Explore our construction loan brokerage services and contact us today to start your search. 

Understanding construction and development loans in Australia 

Construction and development loans are uniquely structured to meet the specific needs of building projects. Unlike traditional mortgages, these loans are designed to fund the various stages of construction, ensuring continuous financial support throughout the project.

Funds are disbursed in stages, known as "drawdowns” or “progress payments," aligned with the progress of construction, and borrowers typically make interest-only payments on the amount disbursed by the lender. Stage-based funding like this provides borrowers flexibility, ensuring they always have access to funds as their project progresses.

Once the build is completed, the construction loan converts to a standard loan, and the borrower can begin making principal and interest payments.

Given the unusual nature of construction loans, seeking professional financing guidance is highly recommended. 

Experience an easier way to find the best construction loan in Australia

We all need a little help every now and then to get the ball rolling, and our skilled team at Universal Finance Corporation is ready to help. Here’s how our mortgage brokers can assist you in finding the right construction loan:

• Thorough project assessment

Our brokers start by conducting a thorough assessment of your project. We analyse the scope of work required, timeline and budget to fully understand your financing needs. From this detailed evaluation, our team will be in a more confident position to recommend the best construction loan option tailored to your specific requirements.

• Customised financing solutions 

Understanding that every project is unique, our brokers provide personalised financial solutions. We consider your financial situation, borrowing capacity, project goals and long-term plans to offer customised advice. Whether you need a short-term construction loan or a more comprehensive development financing package, we tailor our recommendations to suit your needs.

• Streamlined application process 

Applying for a construction loan involves detailed documentation and coordination with lenders. Our brokers simplify this process by assisting with paperwork, ensuring all necessary documents are in order and managing communications with lenders. This efficient approach minimises delays and helps you secure funding quickly.

• Timely guidance and support

As you embark on your build or renovation, we provide continuous support throughout the construction phase, monitoring the disbursement of funds and offering advice on how you can best manage your loan effectively. If your financial needs change, we are here to assist with refinancing or adjusting your loan terms.

Build with confidence with Universal Finance Corporation

Starting a construction or development project is an emotionally intensive and time-consuming project that requires the right financial backing. At Universal Finance Corporation, our dedicated mortgage brokers are here to provide the expertise and support you need to secure the best construction loans.

Ready to start your construction journey? Contact Universal Finance Corporation today to discuss your construction and development finance options.