Check your borrowing power before you brief a builder. It sets your budget, design and timeline
Renovation Loans
Home loan expertise to help pay for your home renovations.
No Obligations
5.0 Stars Based on 176 user reviews
Do need a home renovation loan?
If you love where you live, but your home is dated, falling apart or just doesn't work as functionally as you'd like, then home renovations are a fantastic way to create a harmonious family life while adding real value to your home.
As mortgage brokers, we help with the best way to fund the renovation, advice on how much you can afford to spend, new loan repayment amounts and then we get the loan approved so your renovations can begin.
The most common approach to financing is an increase or top up on your current home loan or if you're planning major renovations of more than $350,000 you may need a renovation (construction) loan.
Whichever approach we take, we will ensure you get the right loan and that it’s set up properly from the start.
We have helped clients finance renovations of all sizes, from large projects like lifting a Queenslander and adding new rooms underneath, through to small renovations like adding a back deck or upgrading the kitchen.
How to get started
Simply book a free call with me to have your questions answered.
With relationships with over 50 banks and lenders across Brisbane, the Gold Coast and the Sunshine Coast, strong knowledge of banking policies and efficient, friendly service, you will feel in safe hands.
Top 3 tips
Match the loan type to the project size.A top-up suits small renovations, while a construction loan is better for major projects.
Keep a 10 to 15% buffer for variations. Renovations often uncover unexpected costs, so plan ahead.
Four ways to fund a reno, and when each fits
| Option | Best for | Typical size | Speed | Watch-outs
|
|---|---|---|---|---|
| Top-up / redraw | Small cosmetic renos | Up to ~$100k | Fastest | Needs available equity and serviceability |
| Equity release | Mid-size, non-structural | $100k to $300k | Moderate | LVR (loan to value ratio) caps apply |
| Refinance for renovations | Better rate plus cash out | $50k to $300k | 3 to 5 weeks | Exit costs on current loan |
| Construction loan | Major structural work | $350k and above | Slowest | Progressive drawdowns, stage valuations |
Not sure which one applies to you? Book a call with Victor and we'll tell you.
Our Process
How we get a renovation loan approved
Here’s our simple process if you're doing major renovations (over $350,000) and needing a renovation (construction) loan.
Confirm borrowing capacity
Before you spend a cent on plans, we work out what the banks will actually lend. Victor reviews your income, expenses and existing debts against current lender policies across our panel of 50+ lenders...
Designs, quotes and tradies
You choose your builder and finalise drawings and fixed-price quotes. The bank lends against the contract, so the cleaner this stage, the smoother the approval. We'll tell you exactly what the lender...
Deposit and contract
You pay your builder's initial deposit from savings and sign the fixed-price building contract. We use that contract, plus the council-approved plans, as the basis for the loan application.
Fact find, docs and submission
You complete our online fact find and upload payslips, bank statements, contracts and quotes. We match your file to the right lender on our panel and submit it.
Renovating an investment property rather than your own home? See investment property loans for that specific approach.
Work with Victor, Queensland's expert in home loan approvals
- Victor Kalinowski, principal broker, 19+ years in lending
- In business since 2007, thousands of Queensland families helped
- 99.6% loan approval rate in the last financial year
- Access to 50+ banks and lenders
- No fee to you in most cases, we're paid by the lender at settlement
- Operating under an Australian Credit Licence
Based in Queensland with a mortgage broker in Brisbane office and brokers across the Gold and Sunshine Coasts.
Client Stories
Our client experiences with the home renovation process
Testimonials
See what clients say about our service
5.0 Stars
Based on 151 user reviews
Rob & Laura
"Victor and the team went above and beyond to ensure we secured the property we wanted. Communication was excellent and knowledge of the market second to none."
Dylan & Bree
"My fiancé and I are both self-employed and we were concerned about finding a lender. Victor and Christal made the entire financing process a breeze."
Isabelle & Wayne
"Victor's advice in the early stages was invaluable to us securing our loan. We need more community minded, person centred businesses like this."
Frequently Asked, Clearly Answered
It depends on your income, existing debts, and how much equity sits in your home. As a rough guide, most lenders will let you borrow up to 80% of your home's value (your LVR, or loan to value ratio) without lender's mortgage insurance. On a 20-minute call we can give you a real number based on current lender policies.
Yes, this is the most common path. If your home's gone up in value, or you've paid the loan down, that gap is equity you can draw on through a top-up, equity release or refinance.
A top-up is an increase to your existing home loan, paid to you as a lump sum. Best for renos under about $100k with no structural work. A construction loan releases funds in stages as the build progresses and is required for major structural renos, usually $350k and up.
For a top-up, no. For a construction loan, yes. Lenders want council-approved plans and a fixed-price building contract before they'll formally approve.
A top-up can be done in one to two weeks. A construction loan usually takes three to five weeks from submission to formal approval, depending on the lender and how clean the contract and plans are. If you're selling one home and renovating another, bridging finance can cover the gap.
In most cases, nothing. We're paid by the lender after your loan settles, similar to how bank staff are paid. If your situation is unusually complex we'll tell you upfront, before any work starts.
Thinking about a reno? Let's work out the right loan structure before you commit to a builder.
Work with Victor, Queensland's expert in home loan approvals
He’s here to guide you personally through every step, making sure your loan gets approved smoothly and stress-free.
