Construction Loans Explained: How to Use Construction Loans Calculator

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How do Construction Loans Work, we explain everything you need to know in this video.
00:00 Construction Loans Explained: How to Use Construction Loans Calculator
00:26 1. Why Are Construction Loans so Complicated?
01:13 2. How Does The Bank Value Your Home To Be Built?
02:41 3. How Long Does It Take To Get A Construction Home Loan Approved?
03:17 4. How Does A Construction Home Loan Work?
04:01 5. Are There Any Common Mistake To Avoid?
04:53 6. How Do You Make Home Loan Repayments During Construction Period?
In a perfect world, the bank will approve your construction loan quickly and easily.
But we don’t live in a perfect world 🙂
On the bright side, I’ve found that construction loans can be easy provided you give the bank the right information up front.
So if you are looking to build a home and need a construction loan, follow the steps in this guide.
www.huntergalloway.com.au/bui...
1. Why Are construction loans so complicated?
2. How does the bank value my to be built home?
3. How long does it take to get a construction home loan approved?
4. How does a construction loan work?
5. Are there any common mistakes of construction loans to avoid?
6. Do I make home loan repayments during the construction?
7. How does mortgage broker help you build a house?
DISCLAIMER:
This video offers no Legal, Financial and Taxation advice, and the information contained is general and does not take into account your personal situation. The Listener acknowledges, consents and agrees to the viewing of the content presented on the Channel is subject to the full Disclaimer (below) and agrees to be unconditionally bound by this Disclaimer.
Full Disclaimer here - www.huntergalloway.com.au/you...

[@MortgageBrokerAustralia]

Join FB Group (Free Access) 👉 facebook.com/groups/209395390748110/

[@mylesmaddux2488]

i dont mean to be so offtopic but does someone know a method to get back into an instagram account?? I somehow forgot my password. I appreciate any assistance you can offer me.

[@janetayala6908]

Perfectly explained, THANK YOU!!! :)

[@MortgageBrokerAustralia]

Thanks for watching Janet! Cheers

[@MortgageBrokerAustralia]

For more tips on Construction Loans www.huntergalloway.com.au/construction-financing-work/

[@rebeccaamey4012]

Nice to know about only having to pay on the interest of the loan while being built.

[@MortgageBrokerAustralia]

:)

[@kurtcharles3545]

Loved the video and all the information provided. The audio is a bit off due to the open space and the nonuse of a microphone. But overall the video was great!

[@MortgageBrokerAustralia]

Hey Kurt, thanks so much for watching! Yeah we fixed this in a few of the newer videos, but appreciate the feedback. Cheers, Jayden.

[@silkylofton]

Great

[@MortgageBrokerAustralia]

Thanks for watching James!

[@sumaricoetzee7486]

So it’s possible to get building plans approved by council before having a specific piece of land? E.g. design with an architect, get approval from the council I plan to live in, approval, then go through the loan process and look for a piece of land to build the house?

[@MortgageBrokerAustralia]

Thanks for watching

[@emmabuffone3204]

What is you are buying a house that’s 50% complete and you are planning on doing the finishing work yourself?

[@MortgageBrokerAustralia]

Hey Emma, you can definitely do that. The banks will generally not finance a partially completed construction as they have concerns with the quality of finishes, insurance issues etc. If you have enough cash to complete it yourself you'll be fine, and once completed you get the council approvals and can look at refinancing as a completed house! Thanks for the question. Cheers, Jayden.

[@rickgrimesshorts]

How to get pre approved for this type of loan and who is the best person to talk about this

[@MortgageBrokerAustralia]

Hey mate, hit us up at huntergalloway.com.au we can have a chat and look at options. Cheers, Jayden.

[@amychen948]

speak so fast😂

[@MortgageBrokerAustralia]

Sorry Amy! KZbin lets you slow it down to 0.5x or 0.75% look in the settings bit down the bottom! Thanks for watching!