Construction lending works differently from other loan types. Instead of receiving the full loan amount upfront, funds are disbursed in stages as construction progresses, paying builders and suppliers directly as per contract. This means you'll only pay interest on the funds you've drawn, rather than on the entire loan amount during the development phase.

Understanding how a construction loan functions and how it supports your building or renovation project is critical to ensure key milestones are preserved and budget creep mitigated.

At NAC, we have the expertise to guide you through the process and ensure you secure the right loan for your needs.