Construction loans
Whether you're building or renovating, the right financing can make the job easier and more affordable along the way.
How construction loans work
While every project is different, here’s how construction financing could work for you:
Congratulations, you’re home!
Why choose Suncorp Bank for your home construction loan?
Helpful tools & resources
Get some quick answers
Depending on the purpose and size of your loan, Suncorp Bank may provide finance of up to 95% of your property value. This amount includes Lenders Mortgage Insurance (LMI) if applicable, possible bank fees and some government fees.
Pre-approval (sometimes referred to as conditional approval) will give you a good idea of how much you may be able to borrow from the bank. If a lender pre-approves you for a loan, they will do so for a specific amount, so you can house hunt properties you know you can afford.
It is obligation-free if you're successful, and you can apply more than once.
You can speak with a lender to apply, or you can apply for pre-approval in as little as 20 minutes online!
If you can meet our lending criteria and are over 18 years old, you can apply for a Suncorp Bank home loan.
There’s no charge for talking with a lender. All home loan assistance is obligation-free.
Your mobile lender will let you know what information you’ll need before the meeting. As a guideline, you may need:
- Income documents
- Loan contracts
- Bank statements
Your minimum monthly repayments will begin one month from the date of settlement of your home loan. For example, if your home loan settled on the 2nd March, your first month’s repayment would be due on the 2nd April.
100% obligation free advice
A Suncorp Bank home loan expert can work with you to help set you up for success.
Our experienced home lending team are happy to answer all your lending questions. They'll call with two hours (or next business day) to discuss your home lending needs.
If you’d like to speak to someone straightaway, please call 13 11 75 Mon-Fri 8am-7pm and Sat 9am-2pm (AEST)
Things you should know:
Home Loan, Personal and Business Banking products are issued by Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882) to approved applicants only. Eligibility criteria, conditions, fees and charges apply and are available on request. Please read the relevant Product Information Document and terms and conditions before making any decisions about whether to acquire a product.
The information is intended to be of general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries.
1 A Mortgage Offset can be established by linking your Everyday Options Account to the loan account and having it in offset mode. While your Everyday Options Account is in offset mode you won’t earn interest on any sub-account balances except where you have fixed them in a flexiRate. flexiRates are deposit funds fixed for a set period so they will earn you interest and are not counted in your offset balance. A one-off Mortgage Offset Fee may be charged to your linked loan account, unless your loan is held in a Home Package Plus.
2 With Suncorp Bank home loans, a maximum period of five years interest-only repayments applies and is subject to you satisfying applicable bank criteria. Before choosing an interest-only repayment option, it’s important you understand the potential risks associated with this product feature. As the name suggests, interest-only repayments means you’ll pay the interest charges but you are not required to repay the principal during the interest-only period. Since repayments to reduce the principal are not being made during the interest-only period, the full loan amount will still be due at the end of the interest-only period. Your repayment amount will also increase when your interest-only period ends. You will pay more in interest than if you made principal and interest repayments from the first drawdown date
