.png)
CONSTRUCTION LOANS
A Construction Loan is a specialised financing option designed for building a new home, where funds are gradually released to the builder in stages, known as progress payments, as each phase of construction is completed. Once the final progress payment has been issued and the full loan amount has been drawn, the loan typically converts to the type of mortgage that best suits your needs.
Flexible Financing for Your Dream Home Build
Building a new home is an exciting journey, and Century21 Financial is here to make financing it straightforward with our specialised Construction Loan options. A Construction Loan provides funding to cover the costs of building, where the lender releases funds—known as progress payments—at key stages of the construction process. This structure ensures that your builder is paid as each milestone is completed, from laying the foundation to the final touches on your home. Once construction is complete, your loan can transition into a long-term mortgage suited to your financial needs.
Progress Payments Aligned with Your Building Timeline
With a Century21 Financial Construction Loan, payments are made to your builder in increments, ensuring that your funds are used as the project progresses. These progress payments are structured to match key stages of the build, including groundwork, framing, lock-up, and completion. This approach not only allows for smooth funding but also offers transparency, as you can track the construction's progress and payment schedule, knowing that your financing is managed efficiently and aligned with your builder’s timeline.
Transitioning to Your Preferred Loan Type
Once the construction of your home is complete, Century21 Financial makes it easy to transition your Construction Loan to a standard home loan or another loan type that best fits your financial situation. This means that your loan evolves with you—starting as a construction-specific loan to cover the build and then seamlessly converting into a more traditional loan structure. Our team of advisers will work with you to ensure that this transition is smooth, helping you move into your new home with peace of mind and a financing structure that supports your long-term goals.
Guidance and Support Every Step of the Way
At Century21 Financial, we understand that building a new home is both a major investment and a complex process. Our experienced advisers are here to provide guidance and support from the initial loan application to the final transition to a traditional mortgage. We’ll help you navigate the requirements and timelines involved in a Construction Loan, giving you the confidence to manage your build and ensure timely payments. Get in touch with Century21 Financial today to learn more about how our Construction Loan can make your dream home a reality.
Let's Discuss
Your Next Project
Fill out the form, or call us to
set up a free consultation.
Service Areas:
all throughout New Zealand
Level 1, 6 Burgess Road, Johnsonville, Wellington 6037