My Credit Union

Construction Loan

Print


 


4.82% pa
Variable Rate

4.88% pa
Comparison Rate

Apply OnlineMake an appointment


For building or structural renovations

  • Borrow $50,000 - $2M
  • 5 free progressive drawdowns
  • Inspection fees are payable
  • Loan Redraw facility available
  • 100% Offset Account available (during construction period)
  • No ongoing fees
  • Refer to our loan fees for set up costs
  • Interest Only available during construction only

 


5.52% pa
Variable Rate

5.58% pa
Comparison Rate

Apply OnlineMake an appointment


For building or structural renovations Gateway's Construction Loan has been specially designed for residential building projects, with progressive draw downs and interest-only terms to suit.

  • Borrow $50,000 - $2M
  • 5 free progressive drawdowns
  • Inspection fees are payable
  • Loan Redraw facility available
  • 100% Offset Account available (during construction period)
  • No ongoing fees
  • Refer to our loan fees for set up costs
  • Interest Only available during construction only

 

 


 

  Owner-Occupier Product Features:
Construction Loan (Owner Occupier)
Featured Interest Rates
Variable interest rate4.82% pa
Comparison rate4.88% pa
Fees
Establishment fee$200 
Valuation Fee $$325 1
Annual fee$0 
Monthly fee$0 
Discharge fee$300 
Features
Redraw facilityYes 
Offset accountYes 
Loan repayment insuranceNo 
Additional repayments acceptedYes 
Additional repayments fee $$0 
ATM/EFTPOS accessNo 
Branch accessYes 
  Investment Product Features:
Construction Loan (Investment)
Featured Interest Rates
Variable interest rate5.52% pa
Comparison rate5.58% pa
Fees
Establishment fee$200 
Valuation Fee $$325 1
Annual fee$0 
Monthly fee$0 
Discharge fee$300 
Features
Redraw facilityYes 
Offset accountYes 
Loan repayment insuranceNo 
Additional repayments acceptedYes 
Additional repayments fee $$0 
ATM/EFTPOS accessNo 
Branch accessYes 

 

  Additional Product Information:

 

Things you should know:

Rates advertised apply to principal and interest repayment types only. Gateway reserves the right to vary these interest rates at any time. Comparison rates are calculated based on a loan amount of $150,000 over a 25 year term. WARNING: Comparison rates are true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rates. Applications for finance are subject our standard credit assessment criteria. Full terms and conditions are included in the loan offer. Fees and charges apply.

1 Applies to standard single residential dwellings to $1 million in Metro locations and $500,000 in Regional locations (maximum land area 2.2ha/5 acres). An additional valuation fee may apply for non-standard properties