Construction Loans · Home Loans
Land, builder, plans and progress payments. One loan, structured for the whole build.
Building new, or knocking down and rebuilding? We arrange the loan for the land and the build, manage every progress payment, and tell you plainly what is possible before you sign a contract.
$1.5b in settled lending
MPA Top Commercial Brokers
5.0 Google rating
Phone answered 24 hours
What happens next
Why commercial through Evolve
Commercial is where we do our best work
Land and build together
Land contract, building contract and plans assessed as one loan, so you are not approved for the land and then stranded on the build.
Up to 70 lenders
Majors, non-banks and specialists across the residential panel, including lenders whose construction policy suits house and land packages, knockdown rebuilds and unusual builds.
Contract checked first
We read the building contract, plans, approvals and insurance the way the lender will, before anything is lodged, so problems surface early and cheaply.
Progress payments, managed
Each builder’s claim goes to the lender with the right paperwork, so funds are released when they should be and the build keeps moving.
“We dealt with Les throughout our first home buying experience and he was extremely helpful. Any questions we had big or small Les did not hesitate to reply to and would go into detail ensuring we understood the process.”
Samuel, Google review
“I originally worked with Les Patonay at Evolve Lending & Finance in 2019 for the purchase of our first house. After selling this house we reengaged and leveraged his services to purchase our new house. Les is prompt, professional, and a pleasure to work with.”
Joshua, Google review
In plain terms
Construction loans, explained plainly
Construction loans work differently from a standard home loan, and most of the trouble people have with them comes from that difference. The lender approves the land and the build together, releases the money in stages as the builder finishes each one, and charges interest only on what has been drawn. Get the paperwork right at the start and the rest tends to follow.
That paperwork is a fixed-price building contract, council-approved plans, the builder’s insurance and a valuation of the finished home, and every lender reads it a little differently. Some suit house and land packages, others prefer a knockdown rebuild on land you already own, and few will consider an owner-builder. We match the file to the right lender, whether you still need to finance your property purchase or already hold the block.
Tell us where the build is up to and what you want to build. The answer will be straight: possible now, possible with changes, or not yet.
How it works
From first conversation to settlement
- Step
The first conversation
A call, usually within one business day, covering the land, the builder, the plans and where the deposit or equity is coming from.
- Step
Initial assessment and recommendation
Building contract, plans, approvals and insurance checked against lender policy and confirmed with your builder. Then lender, structure and costs in writing, including how progress payments work.
- Step
Application prepared for signing
We prepare the application and supporting documents for the chosen lender. You review and sign; nothing is lodged until you have.
- Step
Lodgement and lender approval
Lodged the same or next business day after signing. Most lenders approve in 3–7 business days, some in 1–2, a few take 10–15. Then we manage each progress payment to handover.
Understanding construction lending
How building finance actually works
How does a construction loan work?
A construction loan pays the builder in stages as the work is completed, rather than handing over the full amount at settlement. You pay interest only on the money drawn so far, and the loan converts to normal repayments once the home is finished.
Most lenders release funds at five or six stages: deposit, slab, frame, lock-up, fixing and completion. Before each payment the lender checks the builder’s invoice and usually sends a valuer to confirm the stage is done.
What do lenders need to approve a construction loan?
Lenders want a fixed-price building contract from a licensed builder, council-approved plans, evidence of the builder’s insurance and a valuation of the home as if it were complete. Your income and deposit are assessed the same way as any home loan.
In NSW the builder’s Home Building Compensation Fund cover is a standard request, and most lenders expect the build to start and finish within a set window. Cost-plus and owner-builder projects are possible with fewer lenders.
Can first home buyers use a construction loan?
Yes. A new build is one of the ways first home buyers can access the NSW First Home Owner Grant and duty concessions, and on a house and land package duty is often assessed on the land alone.
The build has to fit the scheme’s value caps, which change, so check the current figures before relying on them. A construction loan sits alongside the grant rather than replacing the deposit you still need.
Can you fund a knockdown rebuild with equity?
Often, yes, because the lender values the finished home rather than the house being pulled down. If you own the land, or a home you plan to demolish, its equity can cover some or all of the deposit for the build.
The catch is the period between demolition and completion, when you may be paying rent and interest on drawn funds at the same time. That is built into the servicing assessment, so plan for it rather than discover it.
Keep exploring
What you can borrow, what it costs and which lender fits.
Building on business income, read properly.
Fund a knockdown rebuild from what you already own.
Guide · What the NSW grant and concessions are worth on a new build
Calculator · A first estimate of what lenders may count for land and build
Get the finance right before you sign
Call 1300 112 355
Questions asked before the slab goes down
What is a construction loan?
A construction loan is a loan designed for building rather than buying an already completed property. Instead of being advanced in one lump sum at the start, funds are usually released in stages as the build progresses.
How do construction loan payments work?
Construction loans are usually funded by progress payments. That means the lender releases funds at different stages of the build, rather than all at once. Borrowers are also commonly required to contribute their own funds first, depending on the structure and lender.
What is the difference between a standard construction loan and a low-doc construction loan?
A standard construction loan usually relies on full income verification, while a low-doc construction loan is designed for borrowers such as self-employed individuals and business owners where traditional income documents may be unavailable, unsuitable, or not required by the lender. The construction side works similarly once approved, but the income assessment and lender pool are more specialised.
Can self-employed borrowers get a construction loan?
Yes, in some cases. Self-employed borrowers may be able to obtain either a standard construction loan or, where appropriate, a low-doc construction loan depending on the scenario, lender policy, and available supporting documents.
Do all lenders offer low-doc construction loans?
No. Not all lenders offer construction loans at all, and of those that do, fewer still offer low-doc construction lending. This is a specialist area, which is why lender selection matters so much.
What documents are usually needed for a construction loan?
That depends on the lender and the scenario, but commonly includes identification, income documents or alternative income evidence, building contract, plans, specifications, council approvals where relevant, and details of your deposit, equity, or land position.
What are the main trade-offs with low-doc construction loans?
The main benefit is that they may allow a borrower to proceed where standard full-doc lending is not suitable. The main trade-offs are usually higher rates or fees, fewer lender options, and a larger deposit or equity contribution requirement.