Construction Loan Interest Rates

Hi all,

I'm soon going to be applying for a construction loan for the build of 2 townhouses.

Does anyone have any idea on the currently prevailing construction loan rate, and is this generally the same interest rate as a standard mortgage?

From a brief look on loans.com.au / Canstar etc. the rate seems to be circa 3% - 3.5%.

Can anyone confirm?

 

generally the same rates as non-construction loans.

 

Those rates are likely wrong, seeing as at least one of those townhouses will be an investment loans.com.au is showing a rate of 4.26% (ie. higher than average) and I dare say the rates you looked at are artificially low to get you to click through to an application/contact a lender directly only to find out you don't qualify for that specific product or similar.
Important when funding Construction that you get the 'as-if-complete' valuation done upfront prior to any finance application to see if the deal is even do-able and what your LVR will actually be. Best to speak to a broker about your options.