Construction Loans
Talk to WA’s award-winning home loan and personal finance experts about a construction loan.
Construction Loans Made Simple
If you’re looking for a construction loan, you want clear, concise support at every stage of your building journey. As WA’s trusted construction loan experts, and the in-house finance partner of Summit Homes Group, we understand the unique lending requirements of new home construction and property development.
Whether you’re building your first home, upgrading, or starting a new investment project, we provide flexible finance options that align with your build and your budget. Our experienced team will guide you every step of the way, ensuring your funds are in place when you need them, and your build runs smoothly.
What is a Construction Loan?
A construction loan is a type of home loan specifically designed for people building a new home or undertaking major renovations. Unlike a standard home loan, construction loans are paid progressively with funds released in stages as your build progresses, rather than in one lump sum. This structure helps manage cash flow and ensures you only pay interest on the money that’s been released.
How Construction Loans Work
When you take out a construction loan, you’ll receive funding in clearly defined stages:
- Land Purchase (if applicable)
- Slab Down Stage
- Structural Walls or Frame Stage
- Roof Cover Stage
- Lock Up Stage
- Final or Practical Completion
We liaise frequently with your builder and lender to coordinate each progress payment, ensuring payments are made on time and according to your build contract.
Why Choose Westgate for your Construction Finance?
With years of experience working alongside WA’s top builders, we offer more than just finance, we offer insight, support, and a smoother lending experience. As a Westgate client, you’ll benefit from:
Get Started with a Construction Loan Today.
Building a home is a big step, and getting the right finance is crucial. Whether you’re at the early planning stage or ready to build, our team is here to help you every step of the way. Complete the short form below, and a Westgate Home Loans specialist will be in touch shortly.
