FirstmacConstruction Home Loan
Construction loans can be used to provide finance when you are building a house, completing a major renovation or demolishing and rebuilding. It allows you to progressively draw down on the loan in stages, only paying interest on the amount drawn during the construction period.
Also sold at the same rates and fees as LJ Hooker Home Loans.
At a glance
- Max LVR
- 90%
- Features
- extra repayments
Rates
Every rate Firstmac publishes for this home loan, 4 in all.
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableInterest Only during Construction or for 12 months, whichever ends sooner | Investment, Interest only | - | ≤80% LVR | 7.69% | 7.27% | - |
| VariableInterest Only during Construction or for 12 months, whichever ends sooner | Investment, Interest only | - | 80–90% LVR | 7.89% | 7.56% | - |
| VariableInterest Only during Construction or for 12 months, whichever ends sooner | Owner occupied, Interest only | - | ≤80% LVR | 7.59% | 6.99% | - |
| VariableInterest Only during Construction or for 12 months, whichever ends sooner | Owner occupied, Interest only | - | 80–90% LVR | 7.79% | 7.37% | - |
Fees
8 fees published, grouped by when they're charged.
- When you take it outNo feeApplication Fee
- While you hold itNo fee published
- When you close it or pay it offUp to $3002 fees, each listed below
When you take it out1
- Application Fee
No application fee is charged when setting up the loan.
No fee
When particular things happen5
- Construction Administration Fee
Construction Administration Fee charged at settlement to cover the administrative costs of managing a construction loan during the building period.
$120 - Construction Assessment Progress Fee
Construction Assessment Progress Fee charged at settlement to cover the cost of assessing each stage of construction.
$650 - Documentation Fee
A fee charged for preparing and processing the loan documentation required for settlement.
$300 - Settlement Fee
A one-time fee charged at the time of loan settlement to cover processing and completion of the mortgage and funding of the loan.
$300 - Valuation Fee
A variable fee charged at cost to assess the value of the property used as security for the loan, starting from a minimum amount.
From $221
When you close it or pay it off2
- Discharge Administration Fee
A fee applied when releasing our mortgage to cover administrative processing of the discharge request. Waived if loan runs to term.
$300 - Discharge Documentation Fee
A fee charged for preparing the necessary documentation when the loan is fully repaid and discharged. Waived if loan runs to term.
$250
Features
Eligibility and limits
- Minimum age 18
- Residency: Are Australian or New Zealand citizens living and working in either Australia or New Zealand, or are Permanent Residents of Australia living and working in Australia.
- Amount $50,000 to $1,500,000
- The loan term must be at least 15 years.
- The loan term cannot exceed 30 years.
Compare it with others
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Published by Firstmac under the Consumer Data Right, last changed by them on 7 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.