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A Construction Loan is for borrowers wanting to build a residence. Some construction loans allow you to use the home loan to purchase the land first and then construct a residence on it within the given timeframe (normally 2 years).

Mortgage House also offers land only loans which allow you to purchase just the block of land, without having a building contract or council approved plans.

Aimed solely at borrowers building a residence, the Mortgage House Construction Loan features an interest only repayment structure during the construction process (with up to 2 years finance of the land before construction), and principal and interest repayments after construction has completed.

Construction Loans:

Click on one of the Construction loans below for further details

• 1st Rate Mortgage Plus Home Loan
• Advantage Home Loan
• Advantage Plus Home Loan

Yes. If you have equity in your home, you may be able to use it to fund renovations to your home, subject to a home loan approval.

Equity is the value of a property minus the owner's outstanding home loan balance. (eg, Your house is valued at $500k and the outstanding home loan balance is $350K. Therefore the equity available in your home is $150k)

The easiest way to access the funds is by attaching a Line of Credit facility to your home loan. A line of credit facility allows you to borrow money, in a separate pool, up to a specified limit. The funds will be made available to you in your Line Of Credit account and you access them as required. Effectively, you will draw down the funds as you need them and subsequently only pay interest on the funds you have accessed.

Equity Home Loans:

Click on one of the Equity loans below for further details:

• Equity Silver Home Loan
• Equity Gold Home Loan
• Equity Platinum Home Loan
• Carpe Diem Home Loan
• Advantage Home Line Home Loan
• 1st Rate Mortgage Combo Home Loan