A free construction loan checklist from The Finance Yogi covering the contract, plans, permits and documents needed for each drawdown stage of a WA build.
Building a home runs smoothly when your finance keeps pace with the build. This free checklist covers the contract, plans, permits and documents you need for each drawdown stage.
Have these ready and every progress payment to your builder is released on time, so your build never stalls waiting on finance.
As your local Perth broker, The Finance Yogi uses this checklist to keep construction loans on track across Perth.
A construction loan releases funds in stages, and each stage needs the right paperwork before the lender pays your builder. Getting these ready upfront keeps your build moving.
The documents fall into three groups: what you need to set up the loan, what each progressive drawdown requires, and what is needed at completion.
Work through the checklist below and we will manage each release for you.
Construction delays often come down to missing paperwork at a drawdown, not the build itself.
Keep these ready and we will chase the valuer, manage the lender and keep your builder paid on time.
A fixed-price contract is strongly preferred, because the lender knows the total cost upfront. See why in our how construction loans work guide.
With these in place, your loan is structured around the build’s timeline.
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At each of the five stages – slab, frame, lockup, fixing and completion – your builder issues an invoice, a valuer confirms the work is done, and the lender releases that portion of the loan.
You will need the builder’s progress invoice for each stage, and the lender arranges the valuation. Keeping these moving promptly avoids any pause in the build.
Plan the repayments: you pay interest only on funds drawn, rising at each stage. Estimate your costs with the home loan repayment calculator.
At completion, you will need the final invoice, the occupancy permit or certificate, and confirmation the build matches the contract. The lender makes the final drawdown and the loan converts to a standard home loan.
This is also the moment to review your loan and switch to the sharpest standard rate available.
We help you make that switch at handover. See the full service on our construction loan broker Perth page.
Work through the list below before and during your build, and every drawdown will go smoothly.
We structure the loan, manage each stage, and switch you to a standard loan once your home is complete.
Keep these ready and your build stays on track. For the full picture, read our complete construction loan guide for WA, or explore our finance services.
Book a free, no-obligation chat and we will structure a construction loan that keeps your build moving.
Source: building finance guidance from ASIC MoneySmart, and building information from the WA Government. Confirm lender requirements before you build.
