Loan Size

Minimum loan size is $200,000

Maximum loan size is $1,000,000 (refer to construction maximum loan limits table below). 



Requirements are:

  • 80% in Metropolitan/Regional and National locations (refer to the Construction Maximum Low Doc Loan Limits table below).
  • The Max low doc loan LVR% must not be exceeded at any time during construction
  • The total advance will never exceed the value of work completed.
  • The  5% deposit to builder may be released to the builder providing that the Fixed Price Contract has been signed by the Builder and the Customer and the commencement date is within 90 days of land settlement. The deposit also needs to be included as a progress payment within the building Contract. Customers will need to provide any other shortfall amounts before this can be paid.
  • Funds are to be disbursed according to the building contract. The minimum progress draw down is $5,000.
  • The LVR is based on the lesser of the land and construction valuation or contract prices. 

Loan Purpose

Low Doc Construction Loans are available to:

  • Purchase land and construct a single dwelling (no duplexes)
  • Refinance an existing full doc land loan from another loan provider and construct a dwelling
  • Finance the construction of a dwelling on existing land
  • Conduct major renovations to a new or existing property

Construction Authority and Loan term

Requirements are:

  • An Authority to Commence Construction has to be issued before construction can begin.
  • Construction must be completed within 12 months of an Authority to Commence Construction being issued.
  • There is no set time for construction commencement from initial land settlement.
  • The construction period is a part of the total loan term. Standard Loan term options apply ( i.e. up to 30 years). 



Construction maximum loan limits

Location LVR Max Loan Amount
Metropolitan/Cat 1    
Self Employed 80% $1M
Regional/Cat 2
Self Employed 80% $750k
 National/Cat 3
Self Employed 80% $500k
National/Cat 4
Self Employed Locations are not acceptable.

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