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Building Loans
Looking to build your dream home? Our building loans are here to help support your dreams with a competitive variable interest rate for your new build.
At Broken Hill Community Credit Union (BHCCU), we understand that turning your dream home into a reality is a significant undertaking. Whether you're planning to construct a brand-new home or expand and renovate your current space, our building loans are designed to make your dreams come true.
We offer a range of home loans and flexible financing options to suit your unique needs and budget.
What is a building loan for?
A building loan is designed to provide financing for constructing a new home or making significant renovations to your existing property. If you're planning to build your dream home or undertake substantial home improvements, a building loan from BHCCU can be the ideal solution to turn your vision into reality. Contact us today to discuss your specific needs and determine if a building loan is the right choice for you.
Our building loans
At BHCCU, our building loans come in a standard principle and interest loan or an interest only mortgage. This means you can secure the funds you need to build your dream home at a competitive rate. We're committed to providing you with transparent and competitive financing options.
How to apply for a building loan
Ensure you are eligible to fit all our building loan criteria
Gather evidence of your income, bank statements, payslips, loan security etc.
Complete a building loan application form (this can be done online or in person. If you require assistance, you can contact our team over the phone)
Wait for your approval (typically pre-approved within 24 hours*)
Start building your dream home!
*during business hours, conditions may apply
Features & benefits
✓ Competitive variable interest rate
✓ Pre-approval available
✓ No ongoing/monthly account-keeping fees
✓ No penalties for additional payments or early payout
Your dream home is within reach with BHCCU's building loan options. Contact us or fill out our application form now to begin your journey towards building the home you've always envisioned.
BHCCU is committed to helping you make your dream home a reality. The first step to realising your dream home is to get in touch with our friendly team. We're here to answer all your questions and guide you through the application process.
Building loans: FAQs
Do you offer phone consults for pre-approval assessments?
Yes. We offer phone consultations or in-person consultations to assess your eligibility and the requirements of the building loan. You can speak directly with one of our friendly staff who will be happy to help you with your pre-approval assessment.
What will a person need to be eligible to apply?
To be eligible to apply for a building loan, all applicants must be:
At least 18 years of age
An Australian Citizen or permanent resident of Australia
In receipt of regular income
How do you calculate building loan repayments?
To calculate how much your building loan repayments will be, check out BHCCU’s home loan calculator to get an estimate on your repayments so you can start planning your dream build. Be advised that repayment totals may change based on the building progress, additional charges that may occur and the flexibility options of your repayments.
How do building loans work?
Building loans work by providing you with the funds needed for the construction of the property towards its completion. There are options for both a standard principle and interest loan or an interest only mortgage. Both options have different features and benefits but our lending team are here to help you answer any questions to assist towards your newly constructed home.
How much deposit do I need for a building loan?
The deposit for a building loan varies depending on the loan assessment and necessary construction criteria; however your contribution may be as little as 5%, with LMI, to 30% for the build.
Important Information
The Broken Hill Community Credit Union Ltd ABN 12 087 650 762 Australian Credit Licence 238020. Credit eligibility criteria, terms and conditions, fees and charges apply. Full details are available on application.