Ausfirst Lending Group is a finance advisory business that helps you fund a build — whether you’re constructing your first home, a knockdown-rebuild, an investment property or a major renovation. A construction loan works differently from a standard home loan: funds are released in stages as the build progresses, and the lender values the property on its completed value.
We assess options from a panel of more than 40 lenders, compare who suits your build and your site, and manage the progress draws, valuations and builder paperwork so the money is there at each stage. With over 50 years of combined lending experience, you deal with the same adviser from first plans through to completion.
Whether you already have a signed fixed-price contract or you’re still choosing a builder, the starting point is the same: an honest look at your budget, your land, and how a lender will assess the finished home.
Drawdowns against each build milestone, not one lump sum upfront.
We compare who lends comfortably on your build type and site.
The same person from first plans to final completion.
Instead of one lump sum, a construction loan draws down in stages as your build hits key milestones — and the lender assesses it on the completed value of the finished home, not just the land or the cash you’re spending today. That changes what you need to provide, how the valuation works, and how your cashflow runs during the build. Getting the structure right up front is what keeps the money flowing when the builder invoices.
The mechanics that make a construction loan different from a standard mortgage:
Lenders assess construction loans on a loan-to-value ratio (LVR) — in some cases up to 95%, though this varies with lender policy and your situation. Eligible first-home buyers may be able to build with as little as a 5% deposit under a government scheme.
The lender arranges an independent valuation based on the proposed finished property. Approval is typically based on the lower of land value plus construction cost, or the valuer’s completed estimate.
Construction loans usually include a drawdown window — commonly around 24 months — within which all funds must be accessed. If you’re buying vacant land to build later, a separate land loan may be needed first.
Where the build is an investment property, some lenders may also consider projected rental income as part of the assessment — see investment loans.
Once approved, your loan is released in stages, each aligned to a construction milestone. Your lender may require an inspection before releasing the next payment:
When the build is complete, the loan usually converts to a standard home loan, and the lender may request final documentation and a last inspection. It’s worth walking through the property with your builder to note any outstanding work before final payment, which can help avoid post-settlement disputes.
A clear application, supported by accurate documentation, may improve your chances of approval. In practice that means:
Evidence of consistent income, a solid savings or deposit history and strong credit conduct. Be ready with recent payslips or tax returns and bank statements.
A signed building contract or tender, detailed construction plans, the builder’s licence, and a construction budget with cost breakdowns for labour, materials and permits.
An independent valuation of the finished home, which the lender uses to set the loan against land-plus-build cost or the valuer’s estimate, whichever is lower.
Complete financial records upfront and your builder’s paperwork available early keep the process moving and the draws on time.
Construction lending isn’t one-size-fits-all. If one of these is you, that’s the place to start:
First-home schemes and a smaller deposit can make a new build achievable — see buying your first home and low-deposit options.
Rebuilding on land you already own has its own quirks around equity and valuation — see knockdown-rebuild finance.
Building it yourself changes how lenders assess the loan — fewer lenders, tighter terms. See owner-builder finance.
Finance for the homes you build for others — construction loans for builders, part of our builder and tradie finance specialty.
If your build includes sustainable design or energy-efficient features, you may qualify for green home loans.
A substantial renovation can be funded on a similar staged basis — see renovation loans.
Construction lending has more moving parts than a standard loan — here’s where that shows:
Policies on draws, valuations and site types vary widely between lenders. We match your build and your block to a lender that lends comfortably on it, rather than finding out at the frame stage that it doesn’t.
We coordinate the progress payments, valuations and builder paperwork so funds are released on time and the build keeps moving.
You work directly with Richard Luke, our director, with more than 30 years in Queensland lending — the same person from first plans to completion.
For most home loans our service is provided at no direct cost to you, because the lender pays us a commission on settlement. We explain and disclose any fees before you proceed.
A simple, four-step process built around advice before commitment:
We map your budget, your land and your build, and what you can borrow — no cost, no pressure.
We compare the panel and recommend the lender whose construction policy suits your build and site.
We prepare and submit everything, coordinate valuations, and manage progress payments with the lender and your builder.
We see the build through to completion, when the loan converts to a standard home loan, and review it down the track.
Building a home is a big project. Tell us about your build — the land, the builder, the budget — and we’ll tell you how to structure the finance and which lenders suit it. A quick, obligation-free chat is the best place to start.
Prefer to talk in person? We’re based in the heart of Caloundra and happy to sit down with you for an obligation-free chat about your build.
Suite 3/74 Bulcock Street
Caloundra QLD 4551
Phone: (07) 3916 7070
Open Monday to Friday, and by appointment.
At Ausfirst Lending Group, we understand that medical and healthcare professionals need more than just a loan—they need a lending partner who appreciates their unique journey. Whether you're a doctor, nurse, dentist, or allied health specialist, we provide tailored home loan solutions with personal guidance, LMI waivers, and flexible options that fit your career and lifestyle. With Richard’s 30+ years of hands-on broking experience, we ensure your loan process is managed with care, transparency, and expertise from start to finish
Educators play a vital role in shaping future generations, and we’re here to ensure their home loan journey is just as rewarding. Whether you're a school teacher, early childhood educator, university lecturer, or support staff member, we offer home loan solutions designed to recognise your dedication to the community. From exclusive lending benefits to flexible loan structures, we simplify the process so you can focus on what you do best—teaching and supporting others.
For those who serve and protect—whether in law enforcement, emergency services, legal professions, or defence—navigating the home loan process should be as straightforward as possible. We offer tailored mortgage solutions that acknowledge the unique demands of your profession, providing structured lending benefits, flexible options, and personalised support.
From police officers and firefighters to lawyers and defence personnel, we’re here to simplify your path to homeownership with solutions designed around your service.
