Construction Loans

We'll help you fund your new build or renovation

Empire Finance Mortgage Brokers is dedicated to supporting the dreams of residents in Shepparton and across Australia by providing access to a variety of Construction Loan options from banks and lenders nationwide. Whether you are planning a major home renovation or preparing to embark on a new build, understanding the nuances of Construction Loans can help set the foundation for a successful project. From interest rates to progressive drawdowns, we are here to guide you through each step.

When considering a Construction Loan, it is essential to understand how the loan amount is managed. Unlike traditional home loans, Construction Loans are typically disbursed in instalments, known as progress payments, throughout various stages of the project. This method allows you to only pay interest on the amount drawn down, offering a financial advantage during the building process. Many lenders offer interest-only repayment options during construction, which can be beneficial as you work to pay sub-contractors like plumbers and electricians or when you need to cover costs like council plans and permits.

The streamlined application process at Empire Finance makes applying for a loan straightforward. Our experienced brokers will assist you in making a plan that meets your needs, whether you are buying off the plan or planning to demolish an existing property for a new build. We understand the importance of commencing building within a set period from the Disclosure Date and can help ensure all council restrictions and regulations are adhered to. Our expertise also extends to identifying suitable land and understanding development applications, ensuring that all bases are covered before construction begins.

One of the unique aspects of Construction Loans is the 'as if complete' valuation process. This involves valuing the property based on what it will be worth once completed, rather than its current state. This valuation is critical in determining the Progressive Payment Schedule, which outlines when you will receive funds as you reach construction milestones. The schedule accounts for additional payments that may be needed for Out of Contract Items not included in your original agreement. Our brokers will work closely with you and your registered builder to ensure that each phase of your project aligns with your financial goals and price range.

As construction progresses, you will encounter various stages of the project that require funding. Empire Finance helps manage these stages, ensuring that payments to builders and sub-contractors are made on time. Whether your project involves major renovations or constructing a new home on a dream plot in an ideal location, managing these financial aspects effectively is crucial for timely completion. We also assist with managing Progressive Drawing Fees and other costs associated with the project.

Our service extends beyond just providing loans. We are part of the Shepparton community and pride ourselves on being responsive and reliable partners in your home-building journey. We understand that construction can be complex, but with our commitment and knowledge, we aim to make it as seamless as possible.

Empire Finance Mortgage Brokers is here to help you realise your construction ambitions. By providing detailed guidance on accessing Construction Loan options from banks and lenders across Australia, we ensure that your financial needs are met at every stage. Contact us today to discuss how we can support your home improvement goals and bring your vision to life with confidence and ease.

Our Lending Process

Step 1: Have a Chat With Us

Everything starts with a conversation. Give Jay and the team a call, book a free appointment online, or pop into our Shepparton office. This first chat is all about getting to know you, what you're looking to achieve, and where you're at right now. There's no jargon, no pressure, and no silly questions. Whether you're a first home buyer who's just starting to explore your options or a seasoned investor looking at your next move, we'll take the time to listen and understand what matters to you.

Step 2: Understanding Your Full Picture

Every person's situation is different, and we treat it that way. We'll walk you through exactly what information is needed, things like your income, expenses, assets, and any existing debts, and help you pull it all together. If anything feels confusing along the way, we explain it in plain language so you always know where you stand. The goal here is to get a clear and accurate view of your borrowing position, so we can put the right options in front of you.

Step 3: Finding the Right Loan for You

This is where having a broker on your side really counts. With access to hundreds of products from a wide panel of trusted lenders, including the major banks, credit unions, and specialist lenders, we do the legwork so you don't have to. We compare loan features, rates, and structures to find what genuinely suits your circumstances and goals. We'll present you with a shortlist of strong options and walk you through the pros and cons of each, so you can make a confident and informed decision. No one-size-fits-all here.

Step 4: Submitting Your Application

Once you've chosen the right loan, we handle the heavy lifting. Our team prepares and lodges your application with the lender, making sure everything is accurate, complete, and presented in the strongest possible way. Throughout this stage, we keep you updated at every turn, so you're never left in the dark wondering what's happening behind the scenes. If the lender needs anything extra, we're onto it straight away.

Step 5: Approval and Settlement

When your loan is approved, we walk you through the offer documents and make sure you understand every detail before you sign. From there, we coordinate with your solicitor or conveyancer, the lender, and any other parties involved to keep settlement on track and on time. If anything crops up along the way, our team handles it quickly and keeps things moving smoothly right through to the finish line.

Step 6: After Settlement, the Relationship Really Begins

At Empire Finance, settlement isn't the end of the road. It's actually where the real relationship starts. Jay and the team stay in touch with you well after the dust settles, checking in regularly to make sure your loan is still working hard for you as your life and circumstances change. Whether it's reviewing your rate down the track, chatting about your next property move, helping with equipment finance for the business, or simply catching up, we're in your corner for the long haul. You're not just a file number here. You're part of the community we're proud to serve across Shepparton, Cobram, Echuca, Wangaratta, Seymour, and right throughout regional Victoria.