OWNER OCCUPIED VARIABLE¹
- Conditions, fess & charges apply
- Conditions, fees & charges apply
You’ve decided to build your own home or renovate an existing dwelling and have found a licensed builder to do so. Morgan & Brooks can align you with the perfect construction loan to provide you with the funds to enter into a building contract and make your dreams a reality. Construction loans have the benefit to be advanced on the settlement of the land contract and thereafter progressively drawn down as your builder complete various stages of your home. In the unlikely and unfortunate event your builder encounters difficulties, lenders traditionally retain sufficient funds from your loan during the construction phase to ensure you can complete your dwelling with another builder. Your payments will progressively increase as the loan is fully drawn after which you can choose to fix a portion or all of your fully drawn advance.