Flexible Construction Loans for Building & Renovation - Rovo Finance
Build with confidence whether you’re starting from scratch or transforming your current home. Rovo Finance helps you access construction loans tailored to your plans, with staged payments, expert guidance, and support from blueprint to completion.
A construction loan is a short term home loan designed specifically for building or renovating property. Unlike traditional home loans, funds are released in instalments known as progressive drawdowns as each stage of construction is completed. You only pay interest on the amount drawn with helping manage costs more effectively during the build.
These loans are best for buyers building on vacant land, purchasing house & land packages, undertaking major renovations, or developing investment properties. Rovo Finance helps you compare lenders and structure your loan to match your build timeline and financial goals.
- Build a new home on vacant land
- Renovate or extend an existing property
- Purchase a house and land package
- Develop investment properties
- Finance off-the-plan builds
Construction typically follows five key stages:
- Slab – laying the foundation
- Frame – erecting the structure
- Lockup – installing external walls, doors, and windows
- Fit-out – plumbing, electrical and internal finishes
- Completion – final touches and clean-up
Repayments are usually interest only during construction, switching to principal and interest once the build is complete. This structure helps manage cash flow while your property takes shape.
Most lenders require a minimum 20% deposit, along with:
- Council-approved building plans
- A fixed-price building contract
- Builder credentials and licensing
Rovo Finance helps you prepare documentation and liaise with your builder and council to streamline approvals.
Rovo Finance simplifies the construction loan process by:
- Comparing lenders and loan structures
- Coordinating with builders and councils
- Advising on staged payments and drawdowns
- Providing expert support from application to settlement
Whether you are building your dream home or developing for investment. We tailor every loan to your timeline, budget & goals.
Book a consultation or send us a message and let’s turn your plans into reality.
FAQs
Construction loans release funds in stages as the build progresses & you only pay interest on the amount drawn. Regular home loans provide the full amount upfront.
Yes. Construction loans can be used for bog renovations or extensions. Especially when staged payments and council approvals are involved.
You will need council approved plans, a fixed-price building contract, builder credentials & financial documents. Rovo Finance helps you prepare and submit everything for faster approvals.
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