Home isn’t built in a day…

We’ve helped finance a lot of Aussie dream homes. The following tips are designed to help you move with confidence through each stage of the process.

1. Have a clear vision

Communicating your vision to a builder and to us is your first challenge. You should do your research and discover what you like and what you don’t. Getting a pre-approval from your bank can give you the confidence to talk to your chosen builder about your budget.

2. Preparation is essential

Whether it’s a knock-down rebuild, renovation, or new build - make sure you have a contingency. A contingency is an amount of money you put aside to use if the project goes over budget. Being well prepared is crucial to the success of your build and construction loan application.

3. Choose your builder

Most builders have project managers who arrange all the required trades. From the plumbers, to the architect, to the electrician - construction is a team sport. You should take the time to find a reputable builder you can trust.

4. Communicate consistently

One thing that can contribute to finishing on-time and under budget is communication. Speaking clearly and consistently with your builder can help things move smoothly. Don’t forget - we’re always here to help.


Building your dream home - stage by stage, brick by brick.

Whatever your vision is - we’re here to help make it happen. No two journeys look the same, but here’s a few things to be aware of before, during and after construction.

Competitive construction loans for every project

Whether you’re looking to build your dream home or just your dream bathroom, we’ve got a variety of construction loan options to facilitate a smooth project.

Browse the options below or to see all products visit our home loan rates page.

This loan is designed to facilitate large renovation projects, knock-down rebuilds and new builds. You’ll get access to awesome features including:

  • Pay interest only on the funds used
  • Interest-only period during construction
  • Low establishment fee & multiple offsets included
  • 6.54%p.a. Interest rate
  • 6.36%p.a.
    Comparison rate

Refinancing Loans

For smaller renovations, refinancing your home loan to use the equity in your existing home might be the best way to go. We can help make renovating that new kitchen or bathroom simple with our range of home loans which offer features such as:

  • A competitive interest rate
  • No annual fees and no account keeping fees*
  • Additional repayments at no extra cost#
  • Instant fee-free redraw^


T&Cs, fees, charges and lending criteria apply. Rates displayed above are available for new owner-occupier borrowings of $150,000 and over with a minimum deposit or equity of 20% or more and interest-only repayments during the construction period. Loan reverts to principal and interest payments on completion of construction.

Learn about construction loans in 90 seconds

Putting on the project manager hat for a renovation or new build can be overwhelming. This video helps you understand what’s important in under two minutes.

Compare, calculate & choose

Our home loan calculators are designed to help you compare our products and to find out how much you could potentially save or borrow when you build and bank with us.

Construction survival guide

For information about starting your first construction project, read our comprehensive guide and make your next move with confidence.

Here's how Loc built a home with our Construction Loan.

Loc highlights how our Construction Loan has helped him start his journey on building a new home near the new Western Sydney International Airport.

Qudos Bank - your new financial home

Our Qudos at Home Mobile Lenders can meet you at a time and place that suits you. With expert support and on-the-spot applications, we’re here to make things as simple as possible. So, whenever and wherever you're ready to chat about  building your dream home - we are, too.

Frequently asked questions

Got questions? We've got answers.

Qudos Bank must approve any variations to your building contract prior to any changes with your builder. Depending on the circumstances if there is an increase in funds required you may need to provide these funds yourself. Your designated home loan specialist can help you throughout this process and ensure you have budgeted a reasonable contingency fund.

If you need additional funds after the approval of your construction loan, you must get in touch with us. The new request for finance must be assessed in line with our guidelines and criteria. 

If you haven’t already, consider checking your eligibility for government building and renovation grants.

Any additional expenditure or overrun costs should be covered by you. As soon as you think you will exceed the funds that are pre-approved, contact your construction loan specialist. Please note, drawing down of loan funds will be suspended until overrun costs are met.

Your builder must provide an original and complete tax invoice on their official letterhead with their ABN.

Not for any personal construction loans. However, you may still have to pay fees depending on how the funds are drawn from your loan account. Speak to your home loan specialist to see how this will affect you.

The loan funds will be released progressively in line with your building contract and its payment schedule. These payments are known as “progress payments”. All progress payments will be paid directly to your  builder upon your approval. If you’re contributing funds to the construction, these funds will also need to be paid in line with the payment schedule in your building contract.

Before we can make a payment to your builder, you’ll need to provide us with:

  • Confirmation that your cash contribution towards the construction costs has utilised (if applicable)
  • An invoice from your builder, signed by all borrowers stating that you authorise payment. When the invoice is received, we’ll: 
    • Have the property inspected (if required) and then if all is in order;
    • Draw the progress payment from the loan account and pay your builder directly 

We’re required to have your property inspected prior to advancing any progress payments, so please be aware it could take up to 5 business days  to process the payment.

How can we help?


  • 1 Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 10% is required. After completion of construction, your interest rate will revert to the current interest rate applicable to a new principal and interest Low Cost Home Loan with a deposit or equity of 20% or more, for the relevant purpose (ie. owner-occupied or investment).
  • 2 WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Our comparison rate assumes a loan of $150,000 for 25 years. The comparison rate is based on a 12 months interest only period, reverting to the interest rate applicable to a new principal and interest Low Cost Home Loan with a deposit or equity of 20% or more for the relevant purpose (ie. owner-occupied or investment).

*Except for Low Cost Home Loan (Value Package), Construction Loan and Variable Rate Home loan.

#Up to $10,000 a year on Fixed Rate Home Loans.

^No redraw facilities available for Fixed Rate Home Loans.

Approved applicants only. Normal lending criteria, terms and conditions and fees and charges apply.

Lenders mortgage insurance is required for home loans over 80% LVR and is subject to approval.

For interest only loans, only monthly repayment option available. During an interest only period, your interest only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.

You should read and consider the relevant terms and conditions (available on request) and our Financial Services Guide before deciding whether to obtain any of our financial products or services. Target Market Determination available here.