Finance Solutions for you
Along with our partners, we are committed to assisting you with financing for your new home.
Our Finance Partners | Lending Calculator
Looking to achieve your dream of homeownership? Our finance partners are here to help!
If you’re considering a Home and Land package, building from scratch, renovating, or landscaping, financing your project through bank lending may be necessary. It’s important to be aware of your financial situation and budget, so we recommend consulting a mortgage adviser or your bank at the start of the planning process.
Our lending partners are experienced and can help guide you through the process of finding the perfect loan for your dream home. Check out our online lending calculators to see how easy it can be to get started.
Are you considering building a new home and wondering why you should opt for a specialised Construction Finance and Loan provider?
Here are some key advantages:
- You can build with a smaller deposit than expected, from 5% (subject to terms and conditions).
- Qualifying clients may access “Client Progress Payment” or “House and Land Turn-Key” Packages.
- The loan will be fully managed throughout the building process, from application to completion, reducing your stress.
- Depending on the price of the new home or house and land package, there are a few KiwiSaver advantages to building a new home instead of an existing home. You may have the ability to use some of your KiwiSaver for your deposit and potential access to a KiwiSaver HomeStart Grant. By using one of our Specialised Construction Providers, we can walk you through this process.
At EBUILD, we partner with top Construction Finance providers to offer bespoke new-build loan solutions. Our track record speaks for itself, having helped many clients achieve their dream home goals. To find out how much you can afford, try our partner Lending Calculators.
Looking to apply for Construction Finance or Loan? We’ve got you covered from start to finish!
Let’s connect and explore how easy it is to begin building your dream home or rental property.
Construction Funding
Just like all Home Lending, banks will require a sufficient deposit (or equity) and income. Sometimes the deposit is lower for “build deals” as these loans have exemptions from Reserve Bank limits to encourage the supply of houses. Depending on the cost of the build, you could also have the ability to use some of your KiwiSaver for your deposit and potential access to a KiwiSaver HomeStart Grant. Generally, the funds are drawn down through the build, so you don’t have to pay the whole cost of the loan from the start (so you aren’t hit with rent and a full loan cost). Loans can also generally be “Interest Only” through the build process to further assist with affordability. Construction loans are offered by most banks and non-bank lenders, however, each lender can have different criteria.
Renovations and Extensions
Lenders will fund renovations and extensions as a “top-up” loan. There may be sufficient equity in your house as it currently stands, or a valuation may be required to confirm the property’s “completed” value after the project. Banks will lend against this value and, in some cases (depending on the size and nature of the project) will advance all the funds at once. In other cases, they will progressively advance the funds through the project (the same as for construction funding).
Funding for landscaping/decorating
Lenders usually offer additional funding for such projects, ensuring that the property has sufficient equity and that your income can sustain the new lending. It’s essential to notify the lender if the project requires any consents, as they’ll need to examine them.