Need a home loan that can help you fund your building and renovations? A home loan that will allow you to build your dream home or to renovate your existing home in the most cost effective way.

If you are building a new home or renovating your existing home a construction loan may be best suited to you.

There are a range of options available in terms of finance, the right finance will depend on the size and scope of the project. A renovation loan can help finance projects including bathroom updates, emergency repairs, room extensions as well as full renovations.

With options including:

• Redraw facility – for smaller projects such as a new room
• Home equity loan- for medium sized projects like a bathroom or pool
• Line of Credit
• Construction Loan

A construction loan allows for payments and interest on payments to be split according to building time frames for example if the loan amount is $300,000 and the cost of the land is $100,000, you will only have to pay interest on the $100,000 amount before construction is complete.

Building and renovating is a very exciting time though it is also very stressful, eChoice are here to help you taking all the hard work out of finding a home loan that will suit you and your individual needs whilst saving you time and money.