Construction loan calculator
Land settles, the build starts, and the loan is drawn in stages. See what you repay at each stage while you are still renting — and the month it all peaks, which is usually just before you get the keys.
Source: Consumer Affairs Victoria. Stage limits can change — confirm before you rely on the figure.
Stage limits not yet confirmed. These build stage limits have not been checked against the source. Confirm the current position at Consumer Affairs Victoria before relying on this figure.
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If it isn’t working, call0493 348 998and we’ll run the numbers with you — which is a better answer anyway, because we can use your actual situation.
Your heaviest month
—
Rent plus interest, at its highest during the build
- Total loan
- —
- Interest only, once the land settles
- —
- Interest only, just before handover
- —
- Principal and interest, once you move in
- —
- Interest paid during the build
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- Rent paid during the build
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What you pay each month
From land settlement to a few months after you move in. The loan repayment steps up at every stage as more is drawn, while the rent carries on underneath it — until handover, when the rent stops and the repayment switches to principal and interest.
When the money goes out
Each payment, when it falls, and whether it comes from your savings or the loan.
| Payment | When | Amount | From your savings | From the loan | Loan balance |
|---|---|---|---|---|---|
| Land | — | — | — | — | — |
| Deposit — 5% | — | — | — | — | — |
| Base — 10% | — | — | — | — | — |
| Frame — 15% | — | — | — | — | — |
| Lock-up — 35% | — | — | — | — | — |
| Fixing — 25% | — | — | — | — | — |
| Completion — 10% | — | — | — | — | — |
Percentages are of the build contract price. More on how construction loans work on the building and house and land page, and on the wait before your land titles in our titling guide.
A calculator can only tell you so much
These figures use general assumptions. What you can actually borrow depends on which lender you go to and how they assess your income — and that varies more than most people expect.