Melbourne Mortgage Broker
Complete Finance For Your Dream Home, From Land To Construction
Secure a home and land package with a specialized loan that covers both elements in one streamlined solution.
Why Consider a House & Land Loan?
A house and land loan provides a convenient financing solution for those looking to build their dream home. With a structured payment plan aligned to construction milestones, this loan type offers financial security while ensuring steady project completion.
Simplified Financing
Combines land purchase and construction into one loan, making the process more convenient. This approach eliminates the need for multiple applications, ensuring smoother financial management throughout the project.
Lower Deposit Requirements
Access options with as little as 5% down, reducing the upfront financial burden. Many lenders provide flexible deposit structures tailored to different borrower needs, and a Melbourne mortgage broker can help you find the best deposit solution.
Government Incentives
Take advantage of government grants and concessions designed to make homeownership more accessible. These programs can help lower costs significantly and provide long-term financial benefits.
Melbourne Mortgage Broker
Key Features of a House & Land Loan
A house and land loan combines the financing for both the land purchase and home construction into a single loan package. This helps streamline the buying process and eliminates the need for separate approvals. These loans typically offer progressive payments to align with construction stages, reducing financial strain. Many lenders offer competitive interest rates, ensuring affordability throughout the process. Borrowers can benefit from flexible repayment structures, allowing them to tailor the loan to their financial needs. Government incentives and grants may also be available, making homeownership more accessible.
One Loan for Both Costs: A single loan that simplifies financing for both land purchase and home construction, eliminating the need for multiple applications and approvals.
Flexible Payment Structures: Borrowers can select either staged payments that align with construction milestones or lump-sum payments for greater financial control.
Potential Stamp Duty Savings: New homebuyers may qualify for reduced or waived stamp duty costs, helping to lower overall expenses when purchasing property.
Customizable Loan Packages: Borrowers can choose from a range of loan terms, interest rate options, and repayment structures tailored to their specific financial situation.
Frequently Asked Questions (FAQ)
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1. What deposit is required for a house & land loan?
Typically, a minimum 5-10% deposit is needed, but some lenders may offer lower deposit options depending on eligibility and financial circumstances. In some cases, lender’s mortgage insurance (LMI) may be required if the deposit is below 20%.
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2. Can I use a guarantor for this loan?
Yes, many lenders allow a guarantor, often a close family member, to help secure better loan terms and reduce the required deposit. Using a guarantor can eliminate the need for LMI and improve borrowing capacity, making homeownership more accessible.
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3. Are first-home buyer incentives available?
Yes, grants and stamp duty exemptions may apply, depending on the state or territory. First-home buyers should check eligibility criteria for incentives such as the First Home Owner Grant (FHOG) and home guarantee schemes, which can lower deposit requirements and reduce upfront costs.
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4. What are the repayment terms for a house & land loan?
Repayment terms typically range from 25-30 years, with options for principal & interest or interest-only repayments. Some lenders offer flexible repayment structures, allowing borrowers to adjust based on financial goals and cash flow.
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5. How does the loan disbursement work for house & land loans?
Funds are usually released in stages—first for land purchase, then progressively for construction milestones. This ensures payments align with work completion and builder contracts, preventing unnecessary interest charges on undrawn loan amounts.
Melbourne Mortgage Broker
How Gold Group Can Help You Secure a Home Loan
Understanding Your Goals
We assess your financial situation and homeownership aspirations to determine the best loan options for you.
Finding the Right Loan
With access to multiple lenders, we compare various home loan products to find the best match for your needs.
Hassle-Free Application Process
We handle the paperwork, from pre-approval to settlement, ensuring a smooth and efficient process.
Guidance on Government Grants
Our team helps you navigate available grants and incentives, ensuring you maximize your financial benefits.
10 years of working experience
Melbourne Mortgage Broker
Why Choose Gold Group for Your Home Loan?
Provide your best loan services and our experience staff help you.
- Expert Knowledge:
Our team specializes in helping homebuyers secure tailored loan solutions.
- Full-Service Support:
From initial consultation to settlement, we are with you every step.
- Personalized Strategies:
We craft solutions that align with your financial goals.
- Smart Savings:
Our streamlined processes and expert insights help you save time and money.
Get in touch with us