Wondering how you’ll pay rent, or another house mortgage while you build a new home?

In simple terms, a Construction Finance loan provides progress payments throughout the build of your home (unlike a standard mortgage where it’s paid out all at once). In addition, you can discuss with your lender to won’t pay interest on the full loan amount until the home has been completed. This saves you money.

If you’re deciding between an existing home and a newly built home, the good news is that banks require generally 10% less as a minimum of a deposit on a newly built house. (Whereas a standard mortgage on an older house requires at least a 20% deposit). You may also be able to access some of your KiwiSaver for your deposit, and in some cases receive a KiwiSaver HomeStart grant.

Hawkin’s Homes have partnered with ASB Bank. They have over 150 years of industry experience and are experts in accessing the most suitable home loan available with market leading rates. They can help guide you through the process and make everything simple.

Call the Graham White 027 2587172 or Victoria Dodds 027 3572378 for free, friendly mortgage advice.