Free Mortgage Assessment. Contact Today!!!
Free Mortgage Assessment. Contact Today!!!
There’s nothing like building your own home from the ground up. With Nice Loans, you can finance every step of it. Our land and construction loans allow borrowers to finance both the purchase of land and the building of a home.
With funds released in stages, you have full control over your budget while ensuring your builder is paid at each phase of construction. Whether you’re starting with vacant land or already have the plans in place, we’ll help you structure a loan that perfectly fits your future.
We offer a range of construction lending solutions to suit all needs.
From your first plans and approvals through the final stages of your build, our team is with you every step of the way, providing direction, support and clarity when you need it the most. At Nice Loans, we simplify the construction loan process and guide you from planning to completion so you can focus on bringing your new home to life.
The major reason to go with a land & construction loan is the flexibility it provides to finance your build in a way that matches how construction actually works. They are paid in stages, not in one lump sum. You pay for progress, not promises.
Here’s what to expect from a land and construction loan with Nice Loans:
Every build is different. That's why Nice Loans compare a wide range of lenders to match you with the right loan structure. Hare are the main options we can help you with.
Best for buyers purchasing a house and land package through a developer or builder. The costs are often wrapped into one loan making it easier to budget from day one.
Designed for the buyers who intend to manage the build on their own rather than engaging a licensed builder. In such case, lender requirements are stricter and not all lenders offer them.
Suitable for investors who want to build a rental property or develop for resale. This type of loan can be structured with interest only repayments during the build phase. This helps in keep holding costs low before the property generates income.
This is the most common structure for new builds. Funds are released in line with milestones such as slab-down, frame, lock-up, fixing, and completion. Only pay interest on each drawdown amount, not the full loan.
Suitable for buyers who have found the perfect block but aren't ready to build yet. This standalone land loan lets you secure the land now. However, the lending criteria for vacant land are typically stricter with lower LVR & higher rates.
Most lenders require a fixed price building contract from a licensed builder before approving a construction loan. It is necessary as it gives lender confidence in the total build cost & protects you from the cost blowouts.
Construction loans are a smart solution for the right situation, but they work differently from standard home loans. Here's a honest breakdown:
Disclaimer: Loan suitability depends on individual financial circumstances, lender policies, and long-term property plans.
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We compare rates from a wide range of lenders to find the best loan for your situation.
We provide you full guidance from very start to settlement. We handle all the paperwork, negotitation, and support you at every stage.
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Here are some frequently asked questions by our clients. If you have any specific questions, please don't hesitate to contact us.
A land & construction loan is a specialised home loan that is designed to fund the purchase of land & the cost of building a new home. Rather than releasing the full amount upfront, funds are drawn down in stages as each phase in the construction is completed. The borrower only needs to pay interest on the amount drawn down at any given time.
Yes. Most lenders do require a signed fixed-price contract from a licensed builder before they approve a construction loan. This gives both parties (lender & buyer) certainty about the total build cost.
Once the construction is completed and the final drawdown has been made, your loan converts into a standard principal and interest home loan. From this point forward, your regular repayments begin on the full loan balance. Some lenders may require a formal switch or refinance.
Yes, and it can be a smart move as well. Building a new home means you may be eligible for the First Home Owner Grant (FHOG). Stamp duty concessions may also apply.
To determine the loan amount, the lender assesses the total cost of the build, land value, plus the fixed price construction contract and determines how much they’ll lend you based on the lower cost or end valuation. Most lenders will lend up to 80-95% of the property value, depending on the deposit, income and lender policy. LMI may also apply for loans above 80% LVR.
Answer a few quick questions and we'll find the right solution for you.
Select the option that best matches your situation.
Enter the purchase price, how much you'd like to borrow, and your deposit amount.
Based on your loan amount, here is what repayments could look like at current market rates.
How will you be securing this loan?
You may be eligible for the Queensland First Home Owner Grant (FHOG) and stamp duty concessions.
This helps us identify which lenders and products suit you best.
Be as honest as you can — it helps us find the right lender for your situation.
We'll calculate your available equity and find you a better deal.
Based on your refinance amount, here is what repayments could look like.
This helps us identify which lenders and products suit you best.
Be as honest as you can — it helps us find the right lender for your situation.
Select your land situation, then enter the values. Total project value is calculated automatically.
This can be up to your total project value, depending on your deposit.
Based on your construction loan amount, here is what repayments could look like.
How will you be securing this construction loan?
This helps us identify which lenders and products suit you best.
Be as honest as you can — it helps us find the right lender for your situation.
We'll use this to get back to you, usually within one business day.
