A construction loan is designed to help finance the building of a new home, with funds typically released in stages as construction progresses. Instead of receiving the full loan amount upfront, payments are made to the builder at agreed stages of the build. Before approval, lenders will generally require documents such as the building contract, approved plans and relevant quotes, along with a valuation of the property once completed. At Petrova Finance, we can guide you through the construction loan process and help you understand what’s required at each stage.