Construction loans

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Need Funding for your Project?

Funding a building project can be time-consuming, and more importantly, cost intensive. If you find yourself short on the finance required to support this, a construction loan is sure to help greatly. Our loans allow you to access funds progressively as you move through the many stages of a project.


Whether you plan to make renovations, demolish a property, develop land, or build from the ground up, Gryphon Direct has all your needs covered.

Gryphon Construction Loans

The Benefits of Construction Financing


Cost Efficiency - It is unlikely that you will need the sum of your loan upfront, and progressive drawdowns, which allow you to withdraw funds along the way, as needed, can help reduce your loan balance and minimise on interest costs.

Flexibility - Construction financing comes with interest only payments during the construction, meaning lower repayments for the duration of that stage of your building project. We will look into your unique situations to find a deal that works best for you.

Convenience - You can make payments towards your construction loan at any time, reducing loan balance so you pay less interest. 

How Construction Loans Work


Construction loans help with funding building or developmental projects, and the first significant step is to identify the total amount of required funds required for the construction project. Finding out too late that the finance is not enough to cover the costs would be disastrous. As such, it is essential that this is settled early.

Both hard and soft costs must be taken into consideration when finding the total cost of construction. Council permits and architectural plans, among other things, fall under soft costs, while hard costs include labour and building materials.

In addition to all this, it would be wise to factor in a little more funds so you’ll be ready in case anything goes wrong.

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What are Loan ratios?


Loan to Cost

The loan to cost ratio can be found by dividing the amount of funds borrowed over the total cost of the construction project. This typically amounts to a maximum of 80% for most lenders, with lower percentages being favourable.


Loan to End Value

This is similar to the loan to cost ratio, except that the loan amount is divided by the end value of the project instead. The end value will be estimated with the market value of similar projects. Normally acceptable up to 70%, 


Why choose Gryphon Direct?

With Gryphon Direct, you get a confirmed rate, so there’s no guesswork and you know exactly what to expect. In addition, we’re not like the banks, and we won’t turn you away like them either. Our loans are flexible - simply bring up any issues you have and we’ll work together to tailor a loan that perfectly suits your situation. With 26 years of experience in private home loans, you can rest assured that we will secure the very best deal for your needs.

  • One simple set of regular payments
  • Pay less in interest fees and charges
  • Follow a clearer timeline to feel more in control
  • Credit card, car finance, tax debt, hire purchase, store cards, and other personal loans are all covered. 

Apply for a private construction loan

You can also use your loan to pay off and consolidate related debts and much more. Get in touch with us through the quick form and we'll have an experienced manager contact you shortly. You can expect our full assistance throughout the entire process.

Leave it to us at Gryphon Direct

All our lenders are approved with a license, and every loan is a legal contract regulated by the courts. We have a network of over 200 lenders Australia-wide ready to lend for any purpose, wherever you may be, and will compare between them to find the best and most suitable match for your needs.

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