Planning to build your new home? Our borrowing power calculator helps you understand what you can afford. If you're a first-time buyer, visit our First Home Buyer Guide to get started.
Refinancing your existing property? Our refinance calculator offers insights into potential savings and loan options. Building is an exciting journey, and knowing your financial capacity is key to success.
Understanding Construction Loans
Construction loans are specialised mortgages designed to finance the building of a new home or major renovation. These loans often have different terms compared to standard mortgages, including staged payments aligned with the build progress.
Current Interest Rates
As of March 2026, the typical variable interest rate for construction loans starts from 5.99% per annum. It's essential to compare lenders and terms to secure the best deal for your project.
Factors Influencing Your Loan
- Build cost and timeline
- Your deposit amount
- Property location, e.g., Sydney suburbs
- Your credit score and income
How Our Calculator Works
Our construction loan calculator allows you to input your build cost, deposit amount, loan term, and current interest rate. It then provides an estimate of your monthly repayments, helping you budget effectively.
Additional Tips for Builders
Ensure you have a detailed building plan and budget before applying for a construction loan. Reviewing our First Home Buyers Guide can offer valuable insights. Consider consulting a mortgage broker to explore tailored financing options.
Planning Your Construction Project
Beyond financing, plan your project timeline, select reputable builders, and obtain all necessary permits. Proper planning ensures a smoother building process and timely completion.
Ready to start your building journey? Use our calculator to get an accurate estimate based on current rates and your project specifics. For personalised advice, contact our team today.
Visit our contact page to speak with a mortgage specialist and find the best construction loan options for your needs.