Construction Home Loan
Construction loans allow you to finance the building process for your new home or investment property. Once your property is completed the construction loan will automatically convert to your chosen loan option.
Red Rocks Build Power Construction loan allows you to finance the development of your new home or small sub-division generally with select progressive payments during the term of your construction period. Borrow up to 90% of your total development cost (i.e. land value + build contract price). To find our more about our Build Power Construction loan, Contact Us today.
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PRODUCT SPECIFICATIONS |
|
| Rate | Variable or Fixed (after construction) |
| Repayment Type | Principle & Interest or Interest Only 1-5 yrs |
| Loan Term | 25 or 30 years |
| Max Loan Amount | $750,000 |
| Purpose | Purchase & Construction Owner Occupied / Investment |
| Repayment Frequency | Fortnightly, Monthly |
| Repayment Options | Salary Crediting, Cheque, EFT, Direct Debit |
| Acceptable Security | Residential or Rural Residential |
| Mortgage Insurance | Paid by Lender |
| Max LVR | 90% - $750,000 |
PRODUCT FEATURES |
|
| Phone Banking | Yes |
| Internet Banking | Yes |
| Free Redraw Facility | Yes (On Completion) |
| Deposit Book | Yes (On Completion) |
| BPay (Inwards) | Yes (On Completion) |
| Salary Crediting | Yes (On Completion) |
| Additional Repayments | Yes (On Completion) |
| Monthly Fee | NIL |
| EFT Direct Debit | Yes (On Completion) |
| Income Requirements | PAYG, 2 Payslips or SE 2 yrs Financials |
| Company/Trust Eligible | Yes |
