Best Construction Loans & Rates in Australia

  • See the top investment home loan rates, starting from 5.48% p.a. (6.24% p.a. comparison rate^).
Construction home loans
Construction home loans

In our construction home loans guide:

1

3

5

2

4

6

1

2

3

4

5

6

Best variable rate construction loans compared

The table below shows a selection of the best variable construction loan rates currently available for owner-occupiers. These rates are based on principal and interest repayments and the table is sorted by the lowest comparison rate, then the lowest interest rate.

The Capricornian - Country to Coast Home Loan

Variable interest rate

5.69% p.a.

Comparison rate^

5.69% p.a.

Features
  • 100% offset account
Maximum loan to value ratio (LVR)

95%

Pacific Mortgage Group - Construction Home loan

Variable interest rate

5.89% p.a.

Comparison rate^

5.89% p.a.

Features
  • Extra repayments allowed
  • Free redraw
Maximum loan to value ratio (LVR)

80%

Summerland Credit Union - Eco Home Loan

Variable interest rate

5.84% p.a.

Comparison rate^

5.89% p.a.

Features
  • Extra repayments allowed
  • Free redraw
Maximum loan to value ratio (LVR)

60%

Regional Australia Bank - Mortgage Offset Home Loan

Variable interest rate

5.87% p.a.

Comparison rate^

5.90% p.a.

Features
  • Up to eight 100% offset accounts
Maximum loan to value ratio (LVR)

70%

Auswide Bank - Basic Home Loan

Variable interest rate

5.89% p.a.

Comparison rate^

5.91% p.a.

Features
  • Extra repayments allowed
  • Free redraw
Maximum loan to value ratio (LVR)

70%

BankVic Variable Rate Home Loan

Variable interest rate

5.95% p.a.

Comparison rate^

5.95% p.a.

Features
  • Interest-only for up to 24 months
  • Extra repayments allowed with redraw (min $50)
Maximum loan to value ratio (LVR)

95%

Hume Bank - liteBlue Variable Rate

Variable interest rate

5.94% p.a.

Comparison rate^

5.95% p.a.

Features
  • Extra repayments allowed
  • Free online redraw
Maximum loan to value ratio (LVR)

60%

Australian Mutual Bank - Gumleaf Basic Home Loan

Variable interest rate

5.89% p.a.

Comparison rate^

5.96% p.a.

Features
  • Family Support Option available
  • Free redraw
Maximum loan to value ratio (LVR)

60%

Community First Bank - Basic Home Loan Investor

Variable interest rate

5.94% p.a.

Comparison rate^

5.99% p.a.

Features
  • Extra repayments allowed
  • Free redraw
Maximum loan to value ratio (LVR)

95%

Summerland Credit Union - Eco Home Loan

Variable interest rate

5.94% p.a.

Comparison rate^

5.99% p.a.

Features
  • Extra repayments allowed
  • Free redraw
Maximum loan to value ratio (LVR)

80%

Northern Inland Credit Union - Dream Value Home Loan

Variable interest rate

5.84% p.a.

Comparison rate^

6.00% p.a.

Features
  • Extra repayments allowed
  • Free redraw
Maximum loan to value ratio (LVR)

80%

Hume Bank - liteBlue Variable Rate

Variable interest rate

5.99% p.a.

Comparison rate^

6.00% p.a.

Features
  • Extra repayments allowed
  • Free online redraw
Maximum loan to value ratio (LVR)

80%

BCU Bank - Omg Home Loan

Variable interest rate

5.99% p.a.

Comparison rate^

6.00% p.a.

Features
  • Extra repayments allowed
  • Free redraw
Maximum loan to value ratio (LVR)

80%

People's Choice - Basic Home Loan

Variable interest rate

5.99% p.a.

Comparison rate^

6.00% p.a.

Features
  • Extra repayments allowed
  • Free redraw
Maximum loan to value ratio (LVR)

80%

Australian Mutual Bank - Gumleaf Basic Home Loan

Variable interest rate

5.94% p.a.

Comparison rate^

6.01% p.a.

Features
  • Family Support Option available
  • Free redraw
Maximum loan to value ratio (LVR)

70%

Greater Bank - Great Rate Home Loan

Variable interest rate

5.99% p.a.

Comparison rate^

6.01% p.a.

Features
  • Extra repayments allowed
  • Free redraw
Maximum loan to value ratio (LVR)

80%

Heritage Bank - Discount Variable Home Loan

Variable interest rate

5.99% p.a.

Comparison rate^

6.01% p.a.

Features
  • Extra repayments allowed
  • Free online redraw
Maximum loan to value ratio (LVR)

70%

Variable interest rate Comparison rate^FeaturesMaximum loan to value ratio (LVR)

The Capricornian - Country to Coast Home Loan

5.69% p.a.

5.69% p.a.

  • 100% offset account

95%

Pacific Mortgage Group - Construction Home loan

5.89% p.a.

5.89% p.a.

  • Extra repayments allowed
  • Free redraw

80%

Summerland Credit Union - Eco Home Loan

5.84% p.a.

5.89% p.a.

  • Extra repayments allowed
  • Free redraw

60%

Regional Australia Bank - Mortgage Offset Home Loan

5.87% p.a.

5.90% p.a.

  • Up to eight 100% offset accounts

70%

Auswide Bank - Basic Home Loan

5.89% p.a.

5.91% p.a.

  • Extra repayments allowed
  • Free redraw

70%

BankVic Variable Rate Home Loan

5.95% p.a.

5.95% p.a.

  • Interest-only for up to 24 months
  • Extra repayments allowed with redraw (min $50)

95%

Hume Bank - liteBlue Variable Rate

5.94% p.a.

5.95% p.a.

  • Extra repayments allowed
  • Free online redraw

60%

Australian Mutual Bank - Gumleaf Basic Home Loan

5.89% p.a.

5.96% p.a.

  • Family Support Option available
  • Free redraw

60%

Community First Bank - Basic Home Loan Investor

5.94% p.a.

5.99% p.a.

  • Extra repayments allowed
  • Free redraw

95%

Summerland Credit Union - Eco Home Loan

5.94% p.a.

5.99% p.a.

  • Extra repayments allowed
  • Free redraw

80%

Northern Inland Credit Union - Dream Value Home Loan

5.84% p.a.

6.00% p.a.

  • Extra repayments allowed
  • Free redraw

80%

Hume Bank - liteBlue Variable Rate

5.99% p.a.

6.00% p.a.

  • Extra repayments allowed
  • Free online redraw

80%

BCU Bank - Omg Home Loan

5.99% p.a.

6.00% p.a.

  • Extra repayments allowed
  • Free redraw

80%

People's Choice - Basic Home Loan

5.99% p.a.

6.00% p.a.

  • Extra repayments allowed
  • Free redraw

80%

Australian Mutual Bank - Gumleaf Basic Home Loan

5.94% p.a.

6.01% p.a.

  • Family Support Option available
  • Free redraw

70%

Greater Bank - Great Rate Home Loan

5.99% p.a.

6.01% p.a.

  • Extra repayments allowed
  • Free redraw

80%

Heritage Bank - Discount Variable Home Loan

5.99% p.a.

6.01% p.a.

  • Extra repayments allowed
  • Free online redraw

70%

Rates are current as of 5 December 2023. ^Warning: Comparison rates are calculated based on a loan amount of $150,000 repaid over a 25-year term with monthly repayments. Different loan amounts and terms will result in different comparison rates. Check with the provider for full loan details, including rates, fees, eligibility and terms and conditions to make sure the product is right for you. While this is an extensive list of the lowest-rate variable construction home loans in Australia, we can't guarantee that all loans available in the market are shown.

Best fixed rate construction loans compared

The table below shows a selection of the best fixed construction home loan rates currently available. These rates are based on principal and interest repayments and the table is sorted by the lowest interest rate, then the lowest comparison rate.

Australian Mutual Bank - Fixed Rate Home Loan 3 Year

Fixed interest rate

5.48% p.a. for 3 years

Comparison rate^

6.24% p.a.

Features
  • Extra repayments up to $20k during fixed term
  • Redraw available
Maximum loan to value ratio (LVR)

95%

Australian Mutual Bank - Fixed Rate Home Loan 2 or 5 Year

Fixed interest rate

5.63% p.a. for 2 or 5 years

Comparison rate^

6.35% p.a. (2 year); 6.16% p.a. (5 year)

Features
  • Extra repayments up to $20k during fixed term
  • Redraw available
Maximum loan to value ratio (LVR)

95%

Illawarra Credit Union - The Works Package Home Loan 2 or 3 Year Fixed

Fixed interest rate

5.79% p.a. for 2 or 3 years

Comparison rate^

6.99% p.a. (2 year); 6.91% p.a. (3 year)

Features
  • Split loan option available
Maximum loan to value ratio (LVR)

95%

BCU Bank - Fixed Rate Loan 3 Year

Fixed interest rate

5.89% p.a. for 3 years

Comparison rate^

6.18% p.a.

Features
  • Extra repayments up to $25k during fixed term
Maximum loan to value ratio (LVR)

95%

Illawarra Credit Union - Bare Essentials Home Loan

Fixed interest rate

5.89% p.a. for 2 or 3 years

Comparison rate^

6.75% p.a. (2 year); 6.66% p.a. (3 year)

Features
  • Split loan option
Maximum loan to value ratio (LVR)

95%

Illawarra Credit Union - The Works Package Home Loan 1 Year Fixed

Fixed interest rate

5.90% p.a. for 1 year

Comparison rate^

7.09% p.a.

Features
  • Split loan option available
Maximum loan to value ratio (LVR)

95%

BCU Bank - Fixed Rate Loan 2 Year

Fixed interest rate

5.94% p.a. for 3 years

Comparison rate^

6.23% p.a.

Features
  • Extra repayments up to $25k during fixed term
Maximum loan to value ratio (LVR)

95%

Australian Mutual Bank - Fixed Rate Home Loan 1 Year

Fixed interest rate

5.98% p.a. for 1 year

Comparison rate^

6.47% p.a.

Features
  • Extra repayments up to $20k during fixed term
  • Redraw available
Maximum loan to value ratio (LVR)

95%

Pacific Mortgage Group - Fixed Rate Home Loan 1 Year

Fixed interest rate

5.99% p.a. for 1 year

Comparison rate^

5.90% p.a.

Features
  • Unlimited redraw
Maximum loan to value ratio (LVR)

80%

BCU Bank - Fixed Rate Loan 4 Year

Fixed interest rate

5.99% p.a. for 4 years

Comparison rate^

6.19% p.a.

Features
  • Extra repayments up to $25k during fixed term
Maximum loan to value ratio (LVR)

95%

Queensland Country Bank Ultimate Home Loan Package Fixed 1 Year

Fixed interest rate

5.99% p.a. for 1 year

Comparison rate^

6.48% p.a.

Features
  • 100% offset account
  • Redraw facility
Maximum loan to value ratio (LVR)

80%

Auswide Bank Freedom Package Home Loan Fixed 1 Year

Fixed interest rate

5.99% p.a. for 1 year

Comparison rate^

6.73% p.a.

Features
  • 100% offset account
  • Redraw facility
Maximum loan to value ratio (LVR)

80%

Illawarra Credit Union - The Works Package Home Loan 1 Year Fixed

Fixed interest rate

5.99% p.a. for 3 years

Comparison rate^

7.09% p.a.

Features
  • Split loan option available
Maximum loan to value ratio (LVR)

95%

Greater Bank - Great Rate Home Loan 2 or 3 Year Fixed

Fixed interest rate

5.99% p.a. for 2 or 3 years

Comparison rate^

7.49% p.a. (2 year); 7.32% p.a (3 year)

Features
  • Extra repayments and redraw
Maximum loan to value ratio (LVR)

80%

Greater Bank - Ultimate Home Loan

Fixed interest rate

5.99% p.a. for 2 or 3 years

Comparison rate^

7.66% p.a. (2 year); 7.51% p.a (3 year)

Features
  • Extra repayments with redraw
  • Split option available
Maximum loan to value ratio (LVR)

95%

Newcastle Permanent - 2 or 3 Year Premium Plus Package Special Fixed

Fixed interest rate

5.99% p.a. for 2 or 3 years

Comparison rate^

7.76% p.a. (2 year) ; 7.59% p.a. (3 year)

Features
  • $2,000 cashback (T&Cs apply)
  • Extra repayments and redraw
Maximum loan to value ratio (LVR)

80%

Illawarra Credit Union - Standard Fixed Rate Home Loan 2 or 3 Year

Fixed interest rate

5.99% p.a. for 2 or 3 years

Comparison rate^

7.60% p.a. (2 year) ; 7.43% p.a. (3 year)

Features
  • Split loan option available
Maximum loan to value ratio (LVR)

95%

Fixed interest rate Comparison rate^FeaturesMaximum loan to value ratio (LVR)

Australian Mutual Bank - Fixed Rate Home Loan 3 Year

5.48% p.a. for 3 years

6.24% p.a.

  • Extra repayments up to $20k during fixed term
  • Redraw available

95%

Australian Mutual Bank - Fixed Rate Home Loan 2 or 5 Year

5.63% p.a. for 2 or 5 years

6.35% p.a. (2 year); 6.16% p.a. (5 year)

  • Extra repayments up to $20k during fixed term
  • Redraw available

95%

Illawarra Credit Union - The Works Package Home Loan 2 or 3 Year Fixed

5.79% p.a. for 2 or 3 years

6.99% p.a. (2 year); 6.91% p.a. (3 year)

  • Split loan option available

95%

BCU Bank - Fixed Rate Loan 3 Year

5.89% p.a. for 3 years

6.18% p.a.

  • Extra repayments up to $25k during fixed term

95%

Illawarra Credit Union - Bare Essentials Home Loan

5.89% p.a. for 2 or 3 years

6.75% p.a. (2 year); 6.66% p.a. (3 year)

  • Split loan option

95%

Illawarra Credit Union - The Works Package Home Loan 1 Year Fixed

5.90% p.a. for 1 year

7.09% p.a.

  • Split loan option available

95%

BCU Bank - Fixed Rate Loan 2 Year

5.94% p.a. for 3 years

6.23% p.a.

  • Extra repayments up to $25k during fixed term

95%

Australian Mutual Bank - Fixed Rate Home Loan 1 Year

5.98% p.a. for 1 year

6.47% p.a.

  • Extra repayments up to $20k during fixed term
  • Redraw available

95%

Pacific Mortgage Group - Fixed Rate Home Loan 1 Year

5.99% p.a. for 1 year

5.90% p.a.

  • Unlimited redraw

80%

BCU Bank - Fixed Rate Loan 4 Year

5.99% p.a. for 4 years

6.19% p.a.

  • Extra repayments up to $25k during fixed term

95%

Queensland Country Bank Ultimate Home Loan Package Fixed 1 Year

5.99% p.a. for 1 year

6.48% p.a.

  • 100% offset account
  • Redraw facility

80%

Auswide Bank Freedom Package Home Loan Fixed 1 Year

5.99% p.a. for 1 year

6.73% p.a.

  • 100% offset account
  • Redraw facility

80%

Illawarra Credit Union - The Works Package Home Loan 1 Year Fixed

5.99% p.a. for 3 years

7.09% p.a.

  • Split loan option available

95%

Greater Bank - Great Rate Home Loan 2 or 3 Year Fixed

5.99% p.a. for 2 or 3 years

7.49% p.a. (2 year); 7.32% p.a (3 year)

  • Extra repayments and redraw

80%

Greater Bank - Ultimate Home Loan

5.99% p.a. for 2 or 3 years

7.66% p.a. (2 year); 7.51% p.a (3 year)

  • Extra repayments with redraw
  • Split option available

95%

Newcastle Permanent - 2 or 3 Year Premium Plus Package Special Fixed

5.99% p.a. for 2 or 3 years

7.76% p.a. (2 year) ; 7.59% p.a. (3 year)

  • $2,000 cashback (T&Cs apply)
  • Extra repayments and redraw

80%

Illawarra Credit Union - Standard Fixed Rate Home Loan 2 or 3 Year

5.99% p.a. for 2 or 3 years

7.60% p.a. (2 year) ; 7.43% p.a. (3 year)

  • Split loan option available

95%

Rates are current as of 5 December 2023. ^Warning: Comparison rates are calculated based on a loan amount of $150,000 repaid over a 25-year term with monthly repayments. Different loan amounts and terms will result in different comparison rates. Check with the provider for full loan details, including rates, fees, eligibility and terms and conditions to make sure the product is right for you. While this is an extensive list of the lowest-rate fixed investment home loans in Australia, we can't guarantee that all loans available in the market are shown.

How do construction loans work?

Construction home loans are designed to fund the building of residential homes or investments, as well as major renovations to existing dwellings. They work similarly to standard home loans, but with some key differences.

  • As part of the application process, you need to give the lender your builder's fixed-price quote detailing the total cost of the project broken down into each stage of construction.
  • If approved, the lender will release funds as needed to complete each stage of the construction. This is called a ‘progressive drawdown’.
  • You’ll only pay interest on the amount you’ve drawn down.
  • You have the option to make interest-only home loan repayments while construction is in progress.
  • When the build is finished your construction loan will revert to a normal home loan and you’ll start making both principal and interest repayments.
  • As with a normal home loan, it’s best to have a deposit equal to 20% of the build cost before applying (i.e. a loan-to-value ratio below 80%). You may be approved with as little as 5% but you may have been charged extra fees such as LMI along with higher interest rates.
  • When your home is built your construction will be converted into a standard owner-occupier home loan (or an investment property loan if you are renting the home out).

Why go interest-only on a construction loan?

Mansour Soltani

“While you’re doing the construction, most lenders will allow you to pay interest-only on your loan for 12, 18 or 24 months. The reason a lot of borrowers want to do that is for cash flow. While you're building you're generally renting, which is a big added expense and lower repayments can be a big help.”

Mansour Soltani, Money.com.au's home loan expert

Construction loan versus standard home loan

Construction loanStandard home loan

Purpose

Finance the construction of a new home or major renovation

Finance purchase of existing home (including new builds)

Deposit required

At least 5% (but ideally 20%)

At least 5% (but ideally 20%)

Finance provided

Gradually as payments are required at various stages by the builder

All loan funds are released at once

Interest

Charged on amounts drawn down only

Charged on the full loan amount from the start

Repayments

Usually interest-only during construction

Usually principal and interest, but some loans offer an interest-only option for a set period

Construction home loan progress payments (how the loan funds are released)

1

Foundations

Laying foundations of the house and installing plumbing (e.g. 10% of total loan).

2

Frame

Building the frame of your property including roofing, windows, walls and trusses (e.g. 15-20% of total loan).

3

Lock up

Construction of internal walls, doors and insulation of the home. This includes everything that is required to be able to ‘lock up’ your property and make it weathertight (e.g. 30-35% of total loan).

4

Fit-out

The finer details of the home are added such as shelving, kitchen & bathroom cabinetry, tiles and internal cladding (e.g. 20% of total loan).

5

Completion

Everything that is required to complete the home. This may include installation of retaining walls or fences as well as cleaning of the site (e.g. 15% of total loan).

IMPORTANT: With the exception of the final payment upon completion, your lender won’t inspect your property to ensure each stage has been completed. Instead, it will be your responsibility to check the work has been finished, and to then forward the builder’s invoice to the lender for payment.

Australia's Money Matchmaker matching you with your best loans across multiple lenders
Some lenders charge a fee for each time a progressive drawdown of a construction loan is made. These fees are generally added to your total loan amount.

Expert tip: How construction loan progress payments work

Mansour Soltani

"When you're negotiating with your builder, they will outline how much they want to be paid at each stage. But it's actually the bank that will dictate how the builder gets paid. As a client, it’s best to have that conversation up front with your builder to set the expectation that at the end of the day, how and when the payments are made will be up to the bank and not you."

Mansour Soltani, Money.com.au's home loan expert

Motorcycle loan documents

How to apply for a construction home loan

To apply for a construction loan, you’ll need to give the lender all the usual documentation required when taking out a normal home loan, including:

  • Proof of identity
  • Proof of income
  • Record of expenses
  • Proof of your other debts
  • Proof of savings, investments and assets

You’ll also need to supply documents relating to your planned build...

Other documents required for a construction loan application

While some builders are reluctant to offer fixed-price building contracts (due to quickly-rising costs), it’s usually a requirement of the lender that the contract is based on a fixed price.

This will generally need to include:

  • An outline of each construction stage
  • A progress payment schedule
  • A construction timeline
  • Total costs for the project

This will also be provided by your builder or architect and will include all details of your home including layout, size, specifications, materials used and more.

Before your construction loan is formally approved your lender will arrange for a valuation of the home’s value as if it were completed. To do this, the valuer will need both the building contract and the building plans.

The estimate of the valuation on completion will be based on recent sale prices of other comparable homes in the area. This is done to ensure you’re not overspending on your build, and that your home will be worth more than the loan amount when completed (i.e. avoiding negative equity).

The lender will want to see proof that the property and project is adequately insured throughout. This generally includes:

  • Builder’s All Risk Insurance: Covers risk to the building while it’s being constructed.
  • **Public Liability Insurance: **Covers damage to property or injury to people relating to the construction.
Australia's Money Matchmaker matching you with your best loans across multiple lenders
The average build time for detached houses in Australia increased from 10.3 months to 11.7 months in 2022/23, according to Master Builders Australia. Keep your potential build time in mind when applying for your construction loan.

Owner-builder construction loans explained

To secure a construction loan, you usually need to sign a contract with a qualified builder. If you want to build your home yourself, you’ll need to apply for an owner builder construction loan, offered by a limited number of lenders.

Getting approval can be difficult for this type of loan because lenders view owner-builder projects as more risky (e.g. prone to cost overruns). If you’re a licensed builder you may be able to secure a loan for up to 80% of the build’s cost - if you’re not you may only be able to borrow 50-70%.

Because lenders are so strict with these types of loans, before you apply you should make sure:

  • You have a deposit of at least 20% if possible.
  • You have a good credit score and minimal debt.
  • You have a detailed plan for construction including cost estimates and quotations for tradesmen and materials.

Since not all lenders offer these types of loans, it may be better to speak to a mortgage broker to help you find the right fit.

Can I build or renovate without a construction loan?

You generally need a construction loan to build a new home or carry out major structural renovations to a home. Lenders are usually reluctant to provide finance for a major building project up-front through a standard home loan.

However, for non-structural work, a construction loan may not be necessary. Instead, if you have a high level of equity in your property, you may be able to refinance your home loan to borrow more.

Our home loans expert, Mansour, offers the following example:

  • “Let's think about a property owner with a home worth $1 million and $500,000 of equity. In other words, their home loan is $500,000."

  • “And let’s say they want to do a couple of non-structural renos costing $200,000 in total. What they can do is talk to their bank or broker and l say, ‘I want to release equity’."

  • “If the bank approves it, it will increase their existing loan from $500,000 to $700,000, with a new separate loan account the borrower can withdraw from to pay for the renovations as they need it."

  • “Now instead of the 50% equity they started with, it's back at 30%.”

Home Renovations Loans

What about home renovation loans?

Another option for smaller renovations is a home renovation loan. These are different to construction loans and are essentially personal loans that can be used to pay for non-structural renovations.

Home renovation loans are generally easier and faster to apply for, with shorter repayment terms (1-5 years typically). However, personal loan interest rates tend to be higher than what’s available with a construction loan.

Construction home loans FAQ

A construction loan is a home loan specifically designed to fund the construction of residential homes and investments.

Most major banks and lenders offer construction loans including:

  • Westpac
  • NAB
  • Commbank
  • ANZ
  • ING
  • HSBC
  • Macquarie Bank
  • Suncorp Bank
  • St.George Bank
  • Heritage Bank
  • BOQ
  • Beyond Bank
  • Bendigo Bank
  • Bankwest
  • BankSA
  • Bank of Melbourne
  • Great Southern Bank
  • Bank Australia

Banks may have slightly more stringent restrictions and credit policies when assessing construction loans because they are considered higher risk than regular home loans. That’s because:

  • Lenders cannot see the finished home when issuing the loan (they are relying on estimates of the eventual value of the home).
  • There are risks that costs may overrun.
  • The property may be worth less than the loan amount when completed.

Another barrier is the requirement of lenders to have a fixed-price contract from the builder before approving the loan. Some builders are reluctant to offer fixed-price contracts.

Because of the increased risk and uncertainty for the lender, in many cases construction loans have higher interest rates than normal home loans.

But some lenders offer the same rates on construction loans as they do on other home loan (e.g. first home buyer loans). They key is to shop around for the best rates.

To secure a construction loan you must have:

  • A deposit equal to at least 5% of the total cost of the construction and land (but at least 20% is preferable).
  • A contract from a registered builder including a quote for the total cost, a schedule for the build, and a cost breakdown for each stage of the build.
  • Building plans.

You’ll also need all the documents required to apply for a normal home loan including:

  • Proof of identity
  • Proof of income (if you cannot provide this using the usual documentation because you are self-employed, you could consider a low doc home loan)
  • Proof of debt
  • Proof of savings, investments and assets
  • Record of spending
  • Gift letter (if part of your deposit has been given to you as a gift)

This may be possible through what's know as a bridging loan. This type of loan is designed for borrowers who have an existing home but don't want to sell it before purchasing their next property.

Home Loans guides and resources

What's the next step on your property journey? Our home loan guides will help you navigate the road ahead, whether you're buying, building or looking to save on an existing loan.

Written by

Shaun McGowan Money.com.au founder

Loans Expert

Shaun McGowan

Reviewed by

Sean Callery Editor Money.com.au

Editor

Sean Callery

AS FEATURED IN

Address

Level 3, 201 Miller St,
North Sydney, NSW, 2060, Australia

Suite 3, Level 2, 1 Taylor Street,
Moorabbin, VIC, 3189 Australia

Company

Money Pty Ltd trading as Money
ABN: 42 626 094 773
ACL: 528698
AFCA: 83955

© Copyright 2023 Money Pty Ltd.



Disclaimer

Money Pty Ltd (trading as Money) Australian Credit Licence 528698 provides information about credit products and is authorised to do so as the holder of Australian Credit Licence 528698. Money does not compare every Lender all products or issuers available in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product.