Development Loan

Build Value with Finance
Develop Your Assets

Development loans are used to develop property assets, including new construction, excavation work, and important infrastructure such as storm sewers and roads. In addition, a development loan can be used to support the holding costs of the property until it can be sold or support fully amortizing permanent financing.

Award Mortgage can help you buy and develop residential or commercial property to ensure your financial security.

Types of Development Loan

Residential
Project Development

A residential project may include an individual apartment, multiple townhouses, or three or four small villas. A development loan may involve financing to divide and sell land in separate packages or sell a single house and land package.

Commercial
Project Development

Commercial projects often involve property developments in office buildings and commercial districts. In addition, commercial projects can also include nurseries, nursing homes, hotels, motels, boarding houses, medical centers, hospitals and more.

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Our Services

STAGE	CYCLE	SERVICES WHAT WE CAN PROVIDE
Purchase of land		Hunting for a property or land to develop by consulting with real estate agents Providing financial services to help our clients reach settlement
Initial design	3 months	Liaising with designers to fit the development philosophy
DA approval	6 to 12 months	Providing loans to customers during the DA approval process Preparing all related documents for the finance of construction
Building	12 months	Providing construction loans for clients Final funding

Our Services

STAGE	CYCLE	SERVICES WHAT WE CAN PROVIDE
Purchase of land		Hunting for a property or a developable land for clients by consulting a real estate agent. Providing financial services to help clients settle the land
Initial design	3 months	Liaising with designers to fit the development philosophy
DA approval	6 to 12 months	Providing loans to customers during the DA approval process Preparing all related documents for the finance of construction
Building	12 months	Providing construction loans for clients Final funding

Frequently Asked Questions on Development Loans

What is development finance used for?

Development finance is a type of loan that can be used to improve a property or build a new structure. The types of projects financed by development loans vary greatly in size, scope, and type. Ask us if you think your project is right for a development loan.

Will I have to pay exit fees if I complete my project early?

Award Mortgage always aims to secure funding solutions which incur no exit fees. When you obtain a development loan with Award Mortgage, we always ensure you understand all the terms of the loan before signing, including any fees related to early completion or other circumstances.

Will I have to make monthly payments?

No, there are not monthly payments with this type of loan. With a development loan, the interest is rolled up throughout the agreed term of the loan.

Will I be charged interest on the full term of the loan even if I complete the project early?

You are only charged interest for the amount of time you take out the loan. Therefore, if you finish the project ahead of schedule, you will not pay interest on months where development is no longer in progress.

How quickly can a loan be secured?

You can usually secure a loan within a few days of receiving the necessary documentation. When you call to enquire about a development loan, ask about our documentation process, so you have everything you need when you're ready to proceed with your application.