Home Loans

Home Renovation Loan

Explore how Stanford Financial can transform your home renovation dreams into reality. Let our tailored solutions and expert guidance pave the way to a seamless financing experience.
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We’ll find the best loan for your home renovation needs

Dreaming of transforming your house into the perfect home? 

We can help you find a home renovation loan that will turn those dreams into reality. 

Our loans are designed to fund your vision, whether it’s a modern kitchen, an expanded living space, or a complete makeover. 

Leveraging our network of over 50 lenders, we make financing your home renovation straightforward and stress-free.

Schedule a free consultation online or on 07 3703 1801 today to learn more about how we can help bring your renovation dreams to life!

Home renovation loans we can help you secure

Standard home loans to renovate

These loans are specifically tailored for homeowners looking to undertake significant renovations, upgrades, or extensions. This approach not only offers the potential for lower interest rates compared to unsecured borrowing options but also allows for the possibility of tax-deductible interest, depending on your financial situation.

Refinance home loan

Refinancing your existing mortgage can provide the funds needed for your home renovations. 

This option is ideal if you’re looking to benefit from lower interest rates or different loan terms while accessing the equity in your home for your project. 

Refinancing can consolidate your debt into one manageable payment, often resulting in lower monthly payments and the ability to pay off your renovation costs over the life of your mortgage.

Home equity loan

A home equity loan allows you to borrow against the equity you’ve built up in your property to help finance your renovations. 

This type of loan provides a lump-sum payment that you can use for your home improvements. 

Whether you would like $10,000 to paint your house or $100,000 for substantial renovations, a home equity loan may be a great option to increase the value of your property or turn it into your dream property. 

Personal loans for home renovations

Personal Loans for home renovations offer a flexible and swift financing solution, perfect for smaller-scale projects or when immediate funding is needed without tapping into home equity. These loans, available as either secured or unsecured, adapt to your financial scenario, providing the necessary resources to rejuvenate or improve your home with minimal delay.

Unsecured personal loan

An unsecured personal loan does not require collateral and is based on your creditworthiness. 

This loan can be a flexible and quick option for financing smaller to medium-sized renovation projects. 

Since the loan is unsecured, interest rates may be higher compared to secured options, but it offers the convenience of not putting your home at risk.

Secured personal loan

Secured personal loans are backed by collateral, such as a car or savings account, making them less risky for lenders and often resulting in lower interest rates for borrowers. 

This type of loan can be a good option if you need a larger amount for your renovation and are comfortable using an asset as security.

Construction loans for renovations

Construction loans are specifically designed for significant renovation projects or the construction of new additions to your home. 

These loans typically cover the cost of the project and are disbursed in stages based on the completion of predetermined construction milestones. 

With a construction loan, interest is usually only charged on the portion of the loan that has been drawn down, making it a cost-effective option for larger, phased renovation projects.

Why Choose Stanford Financial?

Personalised Finance Solutions

Our brokers will explain and clarify all relevant jargon and ‘bank talk’ to ensure that you’re educated to make the right decisions for your circumstances. Led by our passion and creative ideas, we don’t just accept the banks’ ‘yes or no’ policies. If there isn’t a pathway, we will create one for you.

Access to Over 50 Lenders

Our extensive network of over 50 lenders ensures you have access to the best rates and loan products on the market. This variety allows us to find the perfect match for your financial needs.

Award-Winning Brokerage

Logan’s vision when he started Stanford Financial was to empower and educate clients to navigate life’s financial journeys with confidence. Our commitment to superior customer service has earned us several industry awards and finalist nominations. This includes winning the MFAA Diversified Business and Newcomer awards in 2022.

Nationwide Service

No matter where in Australia your home renovation journey takes you, Stanford Financial’s nationwide network offers consistent, exceptional financial guidance. Leveraging our local expertise and national reach ensures you receive unparalleled, tailored support for your renovation, guaranteeing a seamless and successful project from start to finish.

Book a free consultation today!

Ready to transform your home with the perfect renovation?

Schedule a free consultation online or on 07 3703 1801 today to discover the ideal financing solution for your needs and budget.

Take the first step towards turning your renovation dreams into your living reality.

Frequently Asked Questions

How much can I borrow for a home loan?

The amount you can borrow for a home loan depends on several factors, including your income, expenses, existing debts, and credit history. At Stanford Financial, we evaluate your financial situation to determine the maximum loan amount you qualify for, ensuring it aligns with your repayment capability. You can get a rough estimate using our online home loan calculator or schedule a consultation with one of our loan advisors for a more precise assessment.

The minimum deposit required for a home loan typically ranges from 5% to 20% of the property’s purchase price. The exact percentage can vary based on the loan product and your financial circumstances. A larger deposit might help you secure better interest rates and avoid the cost of Lenders Mortgage Insurance (LMI). We recommend discussing your deposit options with a Stanford Financial loan specialist to find the best solution for your needs.

The Loan to Value Ratio (LVR) is a measure used by lenders to assess the risk of a home loan. It is calculated by dividing the loan amount by the value of the property being purchased, expressed as a percentage. For example, if you’re borrowing $300,000 to purchase a $400,000 property, your LVR would be 75%. A lower LVR generally represents lower risk for the lender and may result in more favourable loan conditions.

Applying for a home loan with Stanford Financial is straightforward:

1. Kick-off Conversation: Your journey begins with a consultation with one of our experienced lending advisors. 

2. Analytical Prep: A dedicated Credit Analyst gathers and prepares the necessary documentation.

3. Exploration of Options: Your Lending Advisor will then illuminate the path forward by presenting home loan options that are uniquely suited to your personal circumstances.

4. Drafting Your Application: With a clear direction, your Analyst prepares your loan application, ensuring every detail aligns with your goals.

5. Fine-tuning and Submission: We pay attention to the finer details, refining and finalizing your application before it’s submitted for approval.

6. Celebrating Approval: Once your loan is approved, it’s time to celebrate! Your Settlement Coordinator will reach out with the good news and guide you through the final steps.

Yes, your Higher Education Contribution Scheme (HECS) debt can affect your home loan application. While it is not considered as negatively as other types of debt, your HECS debt reduces your overall borrowing capacity as it is a financial commitment that must be repaid from your income. Lenders, including Stanford Financial, take your HECS debt into account when assessing your loan application, evaluating your income and repayment capacity. It’s important to disclose any HECS debt during the application process.

Whether upgrading your current home or undertaking significant renovations, our Ipswich mortgage brokers provide home renovation loans throughout Australia. We deliver personalised advice and financing options that make your renovation goals achievable, wherever you are based.

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