Construction Loans

Flexible construction finance for 1-2 residential dwellings.

Construction Loans

Our construction loans suit borrowers looking to complete construction of a single dwelling right through to small-medium development projects.

Our highly competitive construction loan product is suitable for the construction of 1-2 residential dwellings.

Our flexible construction loan supports both full document and low document loan types and can accommodate single dwelling builds for new homes, investment properties and or dual occupancy townhouses/villas.

Our construction loans work on a progressive draw down basis, usually in line with your domestic building contract.

Once the dwelling(s) are complete the residential construction loan converts into a standard home or investment loan.

Talk to one of our specialist lending managers today about our flexible construction loan products can help you build your property goals.

Construction Loan Features

Our highly popular construction loan products come with flexible features and competitive rates tailored to your unique situation.

  • Purchase up to 95%
  • Refinance up to 90%
  • Low doc up to 80%
  • Construct 1-2 residential dwellings
  • Credit impairments considered
  • No mortgage insurance
  • No credit scoring
  • Vacant land considered up to 65%
  • 100% offset (post construction)
  • Loans up to $1.5 million

Note: All applications are subject to normal credit assessment and loan suitability criteria. Terms and conditions, fees and charges apply. Minimum loan advance is $250,000.

Construction Loan Benefits

Here are some of the benefits of our popular construction loan products.

  • Construct up to 2 dwellings
  • No mortgage insurance
  • Full doc & low doc options
  • Individually tailored solutions
  • Qualified & experienced lending managers
  • Qualified & experienced lending managers

Qualifying for a Construction Loan


You can provide a fixed priced building contract or quote from a licensed builder.


Ensure you have sufficient funds to contribute at land settlement.


A4 plans and project specification required.

Construction Loan Progress Draws


Base Stage


Frame Stage


Lockup Stage


Fixing Stage



Lending Calculators

Crunching the numbers? Try our comprehensive range of lending calculators and run some numbers today.


Repayment Calculator

Estimate your loan repayments to calculate your regular commitment.



Borrowing Power

Discover your borrowing power, the first step to getting the right loan.



Stamp Duty

Calculate the amount of tax you’ll pay on any property purchase or transfer.


How We Help Others

Sarah Ishak Borrower

Sarah I, NSW

On behalf Adam and I, we would like to thank you for assisting us in being able to secure a new home for us. With our complex circumstances, you were able to offer us the best possible product…

Paul Cindy Molenaar

Paul & Cindy M, VIC

Just a short note to let you know we’ve finally settled into our new property. The settlement process was seamless and knowing that you were in the background gave us both a great deal of…


Why Red Rock?

Since 2004 we’ve helped thousands of Australians who don’t tick all the boxes.

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The Right Advice!

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Loan Flexibility

We specialise in mortgages for people who need loan flexibility.

Loan Options

Construction Loan FAQs

Yes, we can accomodate a conditional approval for a construction advance with a fixed price quote from a licensed builder in lieu of a completed building contract.

This is a common issue, we would strongly suggest that you never ever start a building project without a formally approved loan to cover at the very least the full amount of your building contract. We can only assist with a loan to complete a partially completed property if the construction project is at fixing stage.

Typically, a construction loan will be based on whichever of the following is the lessor: hard costs (land value plus building contract sum inc gst) or the on completion value of the dwelling(s).

We can assist with a construction advance, but we are unable to finance any demolition or works that are not directly attributed to property improvements. This is because they do not directly relate to the security that is being financed therefore the land would need to be cleared at your own cost.

Depending on when you are looking at commencing construction after settlement, we can assist with both the land and construction advance within one loan application. Typically to complete this we would require that construction commence within 3 months of settlement. If you are not ready to construct this soon after purchasing your land, we can assist with vacant land finance in some instances.