Building the home of your dreams in Australia is an exciting but demanding exercise. The last thing you want to worry about is finance. Unfortunately most conventional lenders frown upon Owner Builders making it sometime near impossible to obtain finance. Mortgage Buddy provides multiple Owner Builder Finance Solutions.

Owner Builder Loans are also available as Low Doc Owner Builder Loans, Credit Impaired Owner Builder Loans and Line Of Credit Owner Builder Loans.

An Owner Builder Loan is generally a short-term, interim loan for financing the cost of construction. At the end of the construction term, your loan reverts to a standard loan of your choice. The lender makes payments to the builder at periodic intervals as the work progresses.

The difference between a construction loan and a standard home loan is that instead of a lump sum payment at agreement signoff, the loan is usually drawn down in stages. Payments (or draw downs) coincide with the initial purchase of the land followed by a number of key construction stages.

Another form of Owner Builder Loan is to borrow money against your block of land, in a Line of Credit Facility and use the funds as you require.

You can never be locked into any loan by any lender!

(This means that irrespective of being in a fixed rate loan or a variable rate loan, you can leave that lender by paying their indicated break fee. It is often the case that break fees are less than the benefits received by switching to a better loan product.)

The Australian Home Loan Industry boasts in excess of 3,000 loan products, options and variations. Mortgage Buddy as a true Mortgage & Finance Broker can assist you with the majority of these various home loan options.

Call Mortgage Buddy to help you find the right Owner Builder Loan - 1300 30 29 29