We help ADF Members looking for a Construction Loan

Building your dream home or undertaking significant renovations can be an exciting yet daunting process, especially for current and former Australian Defence Force (ADF) members. At Defence Loans, we simplify this journey by offering comprehensive Construction Loan options from banks and lenders across Australia. Whether you're planning a new build, major home renovations, or buying off the plan, our expertise ensures a streamlined application process tailored to your needs.

Construction loans are unique in that they allow for progressive drawdown, meaning funds are released in stages as the project progresses. This method is beneficial because you only charge interest on the amount drawn down, rather than the entire loan amount from the start. It provides flexibility, enabling you to pay sub-contractors like plumbers and electricians as work is completed. In addition, we offer interest-only repayment options during the construction phase, making it easier to manage finances.

Applying for a loan with Defence Loans is straightforward. Our experienced brokers guide you through every step, ensuring you understand the terms and conditions. From council plans and permits to engaging a registered builder and adhering to council regulations, we help you navigate the complexities of construction finance. A key aspect of this process is the Progressive Payment Schedule, which aligns with various stages of the project. This schedule includes construction milestones such as foundation laying, framing, and final touches. Each milestone triggers a progress payment, ensuring funds are available when needed.

One of the critical factors in securing a construction loan is the ‘as if complete’ valuation. This assessment estimates the property's value once the project is finished, helping lenders determine the loan amount. Our brokers can assist in obtaining this valuation and ensuring it supports your financial needs. Additionally, we help you understand costs like the Progressive Drawing Fee and any Out of Contract Items not included in the initial quote. These elements are crucial for accurate budgeting and avoiding unexpected expenses.

When planning a new build or renovation, it's essential to consider factors such as ideal location, price range, and council restrictions. Finding suitable land or determining whether to demolish an existing property requires careful thought and planning. Our team at Defence Loans can help you navigate these decisions and ensure all necessary development applications are correctly lodged. We also support you in making a plan that outlines construction milestones and timelines, ensuring the project stays on track.

For those considering major home renovations or buying off the plan, a construction loan can also be an excellent solution. These loans cater to various scenarios, including home improvement loans for extensive refurbishments. By using progressive drawdown, you can manage additional payments efficiently, paying only for completed work at each stage.

Defence Loans is committed to helping ADF members achieve their home construction goals with ease. By offering access to Construction Loan options from banks and lenders across Australia, we ensure competitive interest rates and tailored solutions. Our streamlined application process, coupled with expert guidance on council regulations and suitable land choices, makes us a trusted partner in your building journey.

Ready to take the next step? Contact Defence Loans today to discuss your construction loan needs and discover how we can help you build your dream home or complete your ideal renovation project. We're here to support you every step of the way.